Mainstream Put Them To Sleep, It’s Your Job To WAKE THEM UP!

Thursday, February 5, 2015
By Paul Martin

By Bill Holter
Thursday, 5 February 2015

Every once in a while I am still amazed at some of the truly non thinking and non logical “mush” that comes out of the mainstream. While years ago my wife could find me screaming at the television on a regular basis, I have since mellowed and this is a much more rare occasion …until this morning. Maybe being bombarded for years by illogical mainstream pabulum has numbed my senses? One thing is for sure, the public has swallowed it whole!

CNBC had one of their “money experts” on and was talking about the scorecard for January. Did she talk about gold? Silver? No, being factually incorrect she was talking about how well the European bourses did! She was incorrect no matter how she tries to rationalize it, in nominal terms or in real terms, let me explain. First, when looked at from “local currency terms, the Russian bourse did far better than anything else …even though it was actually down in terms of gold and silver. The European bourses were at very best down 2-3% in terms of dollars or gold, some down much further. Because gold was up 8% and silver up 11% versus the dollar, and the dollar up against everything else, they were “up” double digits versus most everything on the planet! Of course, you know better than this, everything else was “down” or if you want, you can call it “devalued”. Gold and silver are the unmovable, immutable “yardsticks” that cannot debased, stretched or finagled with because an ounce is always an ounce. Gold and silver do not change, they don’t stretch, they don’t shrink they just “are” and everything else is “valued” against them …even the dollar. Their perceived values can however be “played with” by diluting paper supply but I digress…

Next, CNBC had another guest on who manages some $100+ billion (cringe) of “other peoples money”. He was proudly spouting how much better value U.S. equities were over international equities and actually said with a straight face “there are still some very good values” in the bond markets even though 10 year Treasuries were yielding 1.75%! Really? Seriously?! He went on to suggest that particularly in the municipal sector, “good values” could be found. Then of course we got the standard “disclaimer” that everyone should be “well diversified”.

Did the CNBC announcers ask him where the value is in tying up money for 10 years at 1.75%? You of course understand the problem, where is the upside? Will interest rates still be at these ridiculous levels in 10 years? Lower? Higher? 10 years is a very long time, it used to be more than two average business cycles. Now, the amount of “events” occurring in one year probably dwarf what used to be notable in 10 or even 20 years. The problem is this, “notable” events in today’s world, happen so often that its become the new normal and eyebrows no longer are raised for anything unless its “politically incorrect” …THEN there’s a problem!

Switching gears just a bit but still connected to these mainstream thoughts, all of this is about “fraud”. The U.S. way of life has gone from hard work and savings to cutting corners and borrowing. The fraud goes from top to bottom and starts with our money itself. Lie after lie about our economic and financial conditions have piled one on top of the other since 2008 and long before. You name the report, inflation (and thus real GDP), unemployment, housing, consumption or production …they are about the only thing we “manufacture” any more in the U.S.. Markets are rigged, manipulated and forced in contorted directions to confirm the lies fed to the public… and continually reaffirmed by the clueless “mainstream mushers”.

The Rest…HERE

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