Economic pressures

[Danny B]

IRS humor

The IRS is much hated. In an effort to boost it's image, it produced a couple of in-house videos. They were primarily for training purposes. The first vid carries the theme that we would have utter chaos without taxes.
IRS Star Trek Parody - YouTube

The second vid is just strange. Where do they find people to write this stuff?
Internal Revenue Service (IRS) Gilligan's Island Parody (2010) - YouTube

[Danny B]

Venezuela Vs Chile

Time and time again, GOV tries the wrong approach to solving the problems of the poor. Venezuela tried to legislate forced support for the poor. This has never worked.
Watch the Movie Before it is Filmed - International Man
"Once a government has applied force and the force has failed in its objective, the government almost invariably reacts by applying more force�more of what caused the problem in the first place. The importance of this tendency cannot be overstated. "

Chile applied LESS GOV control and intervention. This resulted in a large reduction in poverty. Center for Freedom and Prosperity - The Chilean Miracle Shows that Economic Liberty is the Best Way - YouTube
Too many self-assured politicians who know that they have all the right answers.

[Danny B]

Pure criminal control

Jim Willie has a doctorate in statistics and understands them very well. He has written about the impending crash for a long time. At some point, he was motivated to wrote a "Popular Manifesto" with 20 avenues that could be implemented to avoid the crash.
Popular Manifesto: Demand for Solutions | Gold Eagle
Jim started out believing that America was turning fascist. As time went by, it became more and more obvious that we were not under fascist control. We are under criminal control.
Gerald Celente has reported much the same.

Europe seems to be under the control of incompetents rather that criminals.
Farage: We Are Now Run By Big Business, Big Banks and Big Bureaucrats - YouTube
Goldman Sachs does have people in control in Europe but, it isn't saturated with criminals as badly as America.
The Europeans can more clearly see the writing on the wall. Americans just don't have a clue as to the exact reason for the collapse.
GEAB N°81 is available! 2014 –World political chaos, statistical « smog », risk that the financial planet explodes… But solutions for the future continue to emerge

Both Great Britain and America are completely saturated with criminals in banking, Regulation and the judicial.
Keiser Report: Shrinkflation (E549) - YouTube

[Danny B]

investors, food and collapse

As U.S. GOV became more and more insolvent, it attempted to become more controlling. It tried to control investors. Just the same, it's apparent insolvency drove investors out of bonds. GOV enacted FACTA to keep investors from taking their money out of the country. Another BIG problem is where the money flows to.
NOBODY wants GOV paper. Free money from the FED,,, sure. Bonds, no way. The FED is creating about $ 1 trillion a year. The "plunge protection team" is pumping lots of this into the stock market. Equities are going up even without earnings. Residential real estate is going up even though the average person can not afford the average house. GOV is doing all it can to keep the loose cash from flowing into commodities,,, especially food commodities.
The rest of the world spends a lot more on food than we do.
http://www.tutor2u.net/blog/images/uploads/food.png
Food prices go up and they riot;
http://3.bp.blogspot.com/-547eNEOs6K...2BViolence.png

The FED printed about $ 26 trillion to rescue debt and banks. GOV is trying to keep this wet-ink money from flowing into commodities. There is general agreement that equities are way overvalued. When the stock market blows, the investments must either evaporate or escape.
Gold is worthless, for the most part. The wealth could flow into gold without screwing up a market. Imagine if it flowed into wheat or rice.
U.S. gold is officially valued at $ 42.42 an ounce. U.S. GOV could revalue gold way up OR, it could let the investors flood the commodities market. Imagine if oil doubled and food tripled.
Every consumer market in the world would lock up. Things would become so dangerous on the streets that every under-paid cop and soldier would leave the force to look after his family.

The manipulators of the world depend on there being a LOT of guns between them and you. Gold, it will be.

[Danny B]

Triffin's dilemma and gold

John Maynard Keynes stated that no sovereign currency could ever be the reserve currency because the originator would eventually over-print. In 1944 at Bretton Woods, representatives from 44 countries met to create a stable currency. They chose the U.S. dollar as a reserve currency because America had the most gold and had not been bombed.
The dollar would be gold linked. All other currencies would use the U.S. dollar as a backing for their currency. This would bring stability even though they weren't directly gold backed. Prior to the 1944 Bretton Woods agreement, central banks used gold as the asset to back their currencies.

As reconstruction gradually raised the standard of living in devastated countries, they began to produce excess wealth. This excess wealth was channelled into buying dollars as a store-of-value. The more wealthy a country became, the more dollars it demanded to buy.

Triffin;
"The obscure Belgian economist Robert Triffin is not only very dead he also isn't exactly a household name, yet. Triffin, who died in 1993 studied at Harvard, taught at Yale, worked at the Fed was a key contributor to the formation of the European monetary system. Triffin exposed serious flaws in the Bretton Woods monetary system and perfectly predicted it's inevitable demise yet his work remains largely ignored and unstudied by today's mainstream economists. This "flaw" became known as the Triffin dilemma, and many believe Triffin's dilemma has as serious implications today as it did 50 years ago. In short, Triffin proposed that when one nations currency also becomes the worlds reserve asset, eventually domestic and international monetary objectives diverge. "

Charleston Voice: Gold And Triffin's Dilemma
Keynes claimed that we would overprint. Triffin showed that the world would demand that we overprint.

Since the world demanded our currency, we sent them tons of it in exchange for their raw materials and manufactured products. We didn't need to manufacture,,, we could just print.

"The US Council on Foreign Relations aptly describes why Triffin's dilemma becomes unsustainable:

"To supply the world's risk-free asset, the center country must run a current account deficit and in doing so become ever more indebted to foreigners, until the risk-free asset that it issues ceases to be risk free. Precisely because the world is happy to have a dependable asset to hold as a store of value, it will buy so much of that asset that its issuer will become unsustainably burdened."

Have we reached the day when the United States has become unsustainably burdened? Can US debt honestly be considered to still be risk free?"

Congress voted to give most favored nation trading status to China. This brought in tons more outside wealth that could be absorbed by bankers and GOV. Sure, it hurt the little guy. It's not like anybody in the beltway cared. China sent us junk for dollars,,, and then sent the dollars back to us. We had a hellofa party. Wars and corruption as far as the eye could see.

Many countries are in the process of trying to pull away from the U.S. dollar. For the moment, they don't really have anywhere to go. It is not likely that we could return to a new Bretton Woods agreement because we KNOW that it will fail.
Guggenheim On Gold And The 'Unsustainable' Return To Bretton Woods | Zero Hedge

For a long time, the Swiss Franc was a very strong and reliable currency. BUT, every country that was a manufacturing country had to keep it's currency from growing too strong,,,, consequently losing market share to countries with a weak currency. The Swiss had to peg their currency to the Euro.
NO country can afford to have a strong currency, nor, the reserve currency.

States repeatedly experiment with paper money,,, and then, return to gold. Bankers repeated claim that there isn't enough gold to back all the paper money.
There was just too much wealth to allow gold to represent wealth at a fixed value / price. Bankers HATE gold because it extinguishes debt. They live to compound debt. Politicians hate gold because it prevents them from making promises in return for votes.

Paul Craig Roberts gives an explicit explanation of just how the bankers and politicians manipulate the price of gold;
The Daily Bell - The Hows and Whys of Gold Price Manipulation

They work VERY hard at manipulating the perception of gold because they can't manipulate the reality. The East isn't buying their BS. So, the gold is leaving. PCR lays it out pretty well just what will happen when the East-West flow stops.

Gold and silver are traded directly on the FOREX exchange as currencies. The FOREX trades $ 4 trillion every day. About 5,000 tons of gold are traded here daily. Keep in mind that yearly gold production is about 2500 tons. The Anglo-American bankers have stolen all foreign gold holdings. Bloomberg reports that the vaults are empty. They are sweeping the floors to keep from defaulting.

France hasn't sent back ANY gold to Germany. Don't worry,,, they will get it. Mali is the third largest gold producer in Africa AND,,, France just invaded.
ROBBING PETER MALI TO PAY PAUL GERMANY | WHAT REALLY HAPPENED
They were shipping tungsten-salted gold bars but, got caught. DON'T WORRY. "editorial from CNBC's Senior Editor Jim Carney that it didn't really matter if the bullion was really there at the New York federal Reserve, as long as the bookkeeping said it was! "

The movement of gold shows real desperation. One could surmise that an end to this movement will have serious consequences.

[Danny B]

bummer links

Just a few links. 1 out of 7 Americans are on food stamps. 28% of them have some college training.
The Financial Demolition of America Continues � Just Wondering - Alternative News and Opinions Just Wondering – Alternative News and Opinions

Economists with no sense at all are saying that the economy looks fine to them;
How Junk Economists Help The Rich Impoverish The Working Class -- Paul Craig Roberts - PaulCraigRoberts.org

China has been doing a LOT of printing;
"Since Lehman Brothers investment bank collapsed in 2008, the level of private domestic economy credit in China, from the central bank, private banks and regional authorities downward, is estimated to have risen from $9 trillion to an astounding $23 trillion. That is an increase of $14 trillion in a little bit more than 5 years. "
COMING SHOCK: ‘GOLD CANARY IN THE COAL MINE’
Deutches bank has a LOT of exposure to Chinese debt and is expected to collapse.

Matt Drudge seems a bit worried;
Matt Drudge Issues Warning: "Have An Exit Plan"

The stock market is declining and Richard Russell warns that it is at the edge. He has 60 years experience;
My Blog

[Danny B]

financial problems in the power industry

"Today in 2014, German household electricity consumers pay about 25 euro cents per kilowatthour pricing their �increasingly green� electricity at about $535 per barrel equivalent of energy. "
The Coming Energy Subprime Rout

[Danny B]

M2 growth in a crashing economy

When focusing on central banks, you should understand that they are nominal power, pawns of the true power - the wealthy banking families and other elite. The central banks pretend nominally to care about the economy, growth and the common good, but their deeds show another picture - they first serve the banking system and then anybody else. The most important function for central banks is to rescue overextended banks, engaged in fractional reserve lending (FRL) under the pretext of ensuring an orderly payment system. FRL is the true culprit for the Western economic demise and one of the major drivers of political corruption and societal decay. Dismantling central banks will not strike the problem at the root, although it will be a good step in the right direction.

In order to understand the power of FRL (which is a legalized FRAUD, not a "commercial practice"), consider:

1. Prior to 2008, the M2 level was about $8tr, whereas central bank reserves were $0.8tr and currency component of money supply was $0.7tr; total loans and leases of commercial banks (making the majority of M2) were $7tr

2. Currently M2 is $11tr, total loans and leases of commercial banks $7.4tr, central bank reserves $3.8tr, currency $1.2tr

Thus what central banks have done is keep M2 growing at the previous rates that were maintained via FRL (loans) expansion. As the latter stalled, they directly pumped up money supply via QE, so that M2 grew from $8tr to $11tr. These $3tr added to M2 via QE (so QE was ultimately with the investing public, not banks - the latter were only intermediaries) are in what Austirans call "fully covered fiduciary media (money substitutes)". Why? Because even these $3tr pumped by QE are issued by the banks as deposits, but these deposits are now fully covered by (excess) reserves of $3tr, lying with the banks. As a result the "money multiplier" has crashed. The "money multiplier" theory is a fallacy - banks do not care whether they have enough required reserves before lending (creating money out of thin air), they look for reserves if needed afterwards in the interbank market or directly at the Fed, which is required to always supply enough reserves in order to maintain a stable payments system and reach its target rate. The incorrect nature of the "money multiplier" theory is proven both by study of institutional arrangements and empirical studies (e.g. check prof. Steve Keen).
The reason why central banks are desparate to keep the stimulus flowing is the deflationary situation of the FRL debtberg currently - if they stop stimulating M2 growth will probably go negative and the system convulsions will start again. Their stimulation of the asset bubbles is of a secondary, but welcome importance to them (not because of the wealth effect for the broad economy, but because slowly inflating collateral is good for the banks and a reflation of assets on their balance sheets is needed after 2008). FRL is a racket (a wealth redistribution tool) and the central banks are there to back it up, so yes they are indirectly cheerleaders of the wealth redistribution and cooperate in the bubble building process on Wall Street. But they themselves see that being taken for a ride every time (the bubble (re-)blowing policy of "managing" the economy) is threatening a complete collapse of the system and they can lose their power. Maybe that is why they want to tread more carefull (taper) now.

[Danny B]

Goldman Sachs, J.P. Morgan, and MIT

Everyone knows that the nexus of evil bankers is represented by J.P.M. and G.S. GOV is aiding and abetting the crime. Where did the evil plan come from?
Paul Craig Roberts writes about "junk economics";
How Junk Economists Help The Rich Impoverish The Working Class -- Paul Craig Roberts - PaulCraigRoberts.org
Where did they learn their ideas?
I found an excellent article that is very comprehensive. The Mises institute represents one school of economic thought. Apparently, M.I.T. is responsible for our current crop of clueless economists and policy makers.
"The centrality of MIT to the core orthodoxy of modern economic theory in general and monetary policy in particular has been well documented by Jon Hilsenrath "
The Emerging Market Collapse Through The Eyes Of Don Corleone | Zero Hedge

The article mentions Blanchard along with ,,, "fellow graduate students were Ben Bernanke (1979), Mario Draghi (1976),
and Paul Krugman (1977), among other modern-day luminaries; Stanley
Fischer, current Governor of the Bank of Israel, was the dissertation
advisor for both Blanchard and Bernanke; Mervyn King and Larry Summers
(and many, many more"

From an historical point of view, our current systems are crashing VERY fast. It would be comforting to believe that the Keynesian / MIT modus operandi would be abandoned post haste. Sadly, I don't believe that this will be the case. Terminal tunnel vision apparently rules the day. The big-brains at Harvard lost a huge part of their endowment fund from bad investments. Is there not a single person at Harvard who has a tiny morsel of curiosity about Austrian economics? What about MIT? Are all these 4.0 gpa students so mesmerized by accepted orthodoxy that the logic of the Austrian school has no compelling draw?

[Danny B]

Killing the banks to save the dollar

Everybody and their dog knows that emerging markets are falling. Especially Turkey. As the hot money slows, it leaves emerging markets. This is quite destabilizing. FED taper may very well precipitate a crisis in Emerging markets that blows the derivatives market to Pluto, BUT;

"In other words, perhaps the Fed understands that a dollar crisis is a
bigger crisis than a bank crisis and that its bailout of the banks is
undermining the dollar. The question is: will the Fed let the banks go
in order to save the dollar?"
Paul Craig Roberts - Official Homepage

This question has been the subject of intense debate for years. Will the FED save the dollar OR the banks?

Considering that we are in deflation, this strengthens the dollar. Considering that the bank's exposure to derivatives is close to 1 $ quadrillion, the banks are unsavable. I suspect that the FED will "cut it's losses" at some point and drop the banks AND GOV.

The (bank) principals will throw up their hands and claim that there was nothing that they could have done. It worked for Corzine. I predicted that the FED would not taper because it would blow the interest rate swaps. The FED may very well blow the swaps and the banks to preserve the dollar. Who knows? Maybe that is the only way to fight the rise of the Yuan.

China used all our hot money to build EVERYTHING. Maybe that was the whole point of QE. China is now unsavable;
Debt Rattle Jan 31 2014: Risk Times Risk Equals Fear - The Automatic Earth

[Danny B]

Inflation / deflation,,, who cares

It really isn't worth arguing about inflation and deflation. The dollar is a debt instrument. If you print more of them, is it inflation or deflation?
Much of the confusion and uncertainty is related to the fact that classical inflation is an increase in the credit and currency supply. Since the dollar is a debt instrument, NOT a store of value, an increase in printing is an increase in debt, NOT wealth. Commercial bank money may be inflationary when it is issued but, the repayment phase is deflationary. Much of the TARP money was not repayed by design. This inflation was supposed to offset the growing deflation caused by defaults. The commercial banks can juice up the money supply and increase velocity but, this is temporary. Repayment PLUS interest is deflationary.

The FED sent trillions to broke banks to be held as excess reserves. Then, they paid interest on them. This was just a scheme to give income to banks that had no income due to an overcrowded industry. Many claim that those reserves will move into the general economy and cause price inflation. This isn't likely because, even though the FED can pass out loans without repayment, the commercial banks can not. The FED can cause permanent inflation but, the commercial banks can only cause temporary inflation. The no-doc and subprime loans would have been extremely deflationary when they blew if GOV had NOT kicked in the payoff.

So, while the FED only supplies a small percentage of the money supply, it is inflationary money. The commercial banks supply the bulk of new money but, it is neutral-to-deflationary upon repayment-with-interest. The FED injects inflationary money to offset the deflationary tendencies of the commercial banks. The FED has power because it has free money. The commercial banks have power because they create the bulk of new money. The FED has to continually create a trickle of new money to offset the interest drain.

In calculating inflation, one must factor in, who is creating what quantity of neutral money AND who is creating what quantity of inflationary money.

[Danny B]

Willie, Janszen and Grant

Jim Willie has a doctorate in statistics. He also seems to have some very good informants. He has never been afraid to let it all hang out. He has been correct about 80% of the time. He has a recent prediction that is shocking,,,, to use a word that is overused.
" The reality of the Chinese buying the USFed at the termination of its 100-year contract seems to be coming into view. "
Jim Willie: US Dollar Currency Crisis to Send T-Bond Yields Soaring! | SilverDoctors.com

Eric Janszen is a writer who has been at it for 16 years. He really knows the technical stuff. He is in a position where he goes to the FED meetings and talks with Bernanke. He has a recent article postulating a strong possibility that this bubble is the last bubble. He calculates that stocks are 56% over valued.
2013 Review and 2014 Forecast - Part I: The Last Bubble - Eric Janszen

Jim Grant of Grant's interest rate observer has been accurate and highly respected for a LONG time. He figures that stocks are 60% over valued.
The value of a stock is relative to it's price to earnings ratio. I believe that P/E is at about 17/1 . Once you factor in price inflation, there really aren't any earnings.

Here is an excellent article about the early days of the FED when it started out as an honest institution,,, if only for a short time. Hugh Grant is giving a lecture to the members of the FED.
Must Read: Jim Grant Crucifies The Fed; Explains Why A Gold Standard Is The Best Option | Zero Hedge
Grant talks about how price deflation goes hand in hand with technological advancement. The bankers do all they can to block price deflation by skimming off an ever-increasing percentage.

[Danny B]

Emerging market economies

I have to start this post with something humorous. Things are not looking good out there.
Bohemian gravity; A Capella Science - Bohemian Gravity! - YouTube

"but the Nikkei is down more than 2,300 points. The Nikkei has dropped more than 14 percent since the peak of the market, and many analysts believe that this is only just the beginning. "
"Losses snowballed in Tokyo during a global retreat that has erased $2.9 trillion from equity values worldwide this year"
"As a society, our total consumer, business and government debt is now equivalent to approximately 345 percent of GDP."
The Stock Market In Japan Is COLLAPSING

"In addition to the intractable Federal fiscal profligacy, 44 out of our 50 states are functionally insolvent, (the top five are Rhode Island, Connecticut, Massachusetts, Illinois, and Hawaii)
- See more at: Money Confiscation And Martial Law Unavoidable In US At This Point - :
"One third, or ~$13.5 Trillion dollars of state and municipal bonds at a high risk of default, right now! And yet, State and Local bond issuance continues apace at over $25B per month!"

J.P. Morgan reports that it's stash of gold is just 2.2 tons. This amount of gold fits nicely into a footlocker. There is no need for a vault.
Here is a graph that is an overlay from 1928---1930 compared to today;
http://www.theautomaticearth.com/wp-...113_1928_0.jpg

China is having a bit of a problem;
"As China's CNR reports, depositors in some of Yancheng City's largest farmers' co-operative mutual fund societies ("banks") have been unable to withdraw "hundreds of millions" in deposits in the last few weeks. "Everyone wants to borrow and no one wants to save," warned one 'salesperson', "and loan repayments are difficult to recover." There is "no money" and the doors are locked.

#8 Art Cashin of UBS is warning that credit markets in China "may be broken". For much more on this, please see my recent article entitled "The $23 Trillion Credit Bubble In China Is Starting To Collapse � Global Financial Crisis Next?""
20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

The emerging markets are starting to collapse. Turkey and Argentina are leading the pack. European banks have $ 3 trillion exposure to emerging markets. Deutches bank is collapsing. Their derivative exposure is 17 times the GDP of Germany.

Russia is a resource economy and has had problems anyway. They have cancelled bond auctions for the second week.

The FED has reduced bond buying by just a bit. They call it taper. This has started a crash in emerging markets,,,, first. Germany has called on the FED to STOP taper. So has India and others.
The Mortgage Lender Implode-O-Meter News Pick-ups: Deutsche Bank: Ultra-Fragile Global Markets Mean Fed Will Have To Reverse Taper
There is a definite perception that the FED will continue to taper. The FED would do this hoping to drive investors to the dollar as a safe haven. They aren't worried about crashing everybody else if they can just preserve the dollar. This is war without the explosives.

When Nixon closed the gold window, this started a slow-moving cataclysm. The Euro was created as a replacement / alternative to the dollar. The Euro is partially backed with gold. Dunno if that will be enough. The FED is trying to kill all competition,,, even the Euro. It looks like the emerging market / Japan collapse is unstoppable. That may very well be the plan of the FED.
The FED would also like to collapse China.

When we gave most-favored-nation trading status to China, we force-fed capital to their system. Since China and other low-wage competitors were going to take our manufacturing jobs anyway, we may have forced the issue to create uncontrolled growth. China was in a big hurry to join other powerful States. They threw caution to the wind in an effort to compress 70 years of industrial development into just 20 years.

China, for their part is buying all the gold they can get to try to have a gold-backed currency. They want to buy the stability of gold that we are trying to derail with our huge inflows of hot money. China moved 300 million self-sufficient peasants to the cities. If China can't give them some type of employment, there are going to be BIG problems. China has 64 million empty housing units. China is planning to build 60 additional international airports that they don't need.

China is a big aircraft that has a stall-speed of 7% growth. China is a command economy. NO command economy can grow at 7% without severe mis-allocations of credit. America is in the doldrums. China risks a total implosion.

[Danny B]

GOV and gold

Here is a good vid to start with;
Watch Snowboarding Pro William Hughes in "L.E.D. Surfer" by Jacob Sutton - YouTube

Man started with barter. It was a bit cumbersome so, he invented intermediaries (money). All money had to be a store of value Since priests, kings, politicians and bankers are parasites, they offer nothing of value. They have to take wealth by force and/or subterfuge. Gold was deemed to be the best intermediary for barter. ALL items in an intermediated barter held value. The non-producers have eternally tried to introduce an intermediary that they could control and produce (at no cost).

Paper money came into use in China about 700 A.D. China eliminated paper money entirely in 1455 and wouldn't adopt it again for several hundred years.

In the West, wealth reserves were held in the form of gold until 1944. The Bretton Woods agreement mandated that the U.S. dollar be gold backed and all other currencies be referenced to the dollar,,, indirectly to gold. America promised NOT to over-issue the dollar. In 1950, the Korean war was amped up to make profits for the war profiteers. In the early 60s, the Viet Nam war was created to keep the war profiteers fat and happy. The socialists wanted to buy votes in the early 60s so, LBJ created the "Great Society" welfare programs.

All of this had to be paid for and GOV did this with fresh printed currency. The rest of the world was quite unhappy that we were getting a free ride. They claimed that the dollar was not as good as gold. They dumped the dollars back on FED GOV and demanded gold.
France redeemed $191 million for gold by sending a French battleship to New York to take delivery of the gold from the Federal Reserve and to bring it back to France.

Woodrow Wilson; "They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it. "
We all know that he spoke of the bankers,,, primarily in London.

In a shocking move on August 11, 1971, the British ambassador requested to redeem an astonishing $3 billion for gold -roughly one third of the total gold reserves of the US. By that time, our gold reserves had fallen from a post-war high of 22,000 tons to about 10,000 tons. The British bankers wanted about 3,000 tons of gold. [B]FOUR[B] days later, Nixon closed the gold window. Nixon had made the decision on his own without even including the Secretary of State. Nixon got impeached.
Documents 158 through 174

The parasites have continually tried to get the producers to accept an intermediary that they controlled and produced. The average life of a fiat currency is 20--40 years. The U.S. dollar is 43 years old as an unbacked currency.
When the parasites get control of a currency, they invariably overprint it. When the crash comes, the bankers are always there to rescue GOV at a very high price.
"A clerk informed Carlisle that only $9 million in gold coin remained in government vaults"
"Morgan and the English Rothschilds would loan the U.S. Treasury 3.5 million ounces of gold in exchange for 30-year bonds"
The Panic of 1893: Boosting Bankers’ Money and Power

This time around, it appears that both GOB and banking are flat broke.

[Danny B]

Danger of banking

To start with, I'm going to post a couple of commercial vids. They're pretty cool.
автоФигурное Катание. Танец машин и фигуристов на льду - YouTube
Huge Bear Surprises Crew on EcoBubble Photo Shoot in BC - YouTube
It is well known that banking was taken over by organized crime. This made a lot of legitimate bankers very nervous. A LOT of them quit.
"FREEDOM PROJECT: 594 BANKER RESIGNATIONS"
FREEDOM PROJECT: 594 BANKER RESIGNATIONS ~ by American Kabuki ~ 15.4.12... | The Galactic Free Press

The new Pope fired quite a few of them also. What about the ones that remained? Things haven't gone so well.

Jim Willie;
"an exclusive report on the banker deaths, which has now increased to 5 in the past week with American Title CEO Richard Tulley found dead of �self-inflicted nail gun wounds�.
The Golden Jackass states that the suicided bankers had flipped during prosecution investigations, and were assassinated to prevent insider testimony of bank fraud from reaching the prosecution.
Willie, who recently sat down with The Doc for an exclusive interview revealing the �Smoking Gun� proving gold rehypothecation by US officials, emphasizes that we are NOT seeing bad bankers removed, we are witnessing bankers taken out who are on the verge of revealing BIG DATA details. "
"The banker hits are being done by the bad guys to keep men from singing after they flipped during prosecution investigation.
All have been working with police teams and continental cops like Interpol.
The STL Fed guy discovered some Bush giant multi-$B fraud and was ready to report it.
The STL Fed economist was hit by the Bush gang, before he sang against them.
The London bankers had begun to sing to Interpol on Mafia Vatican connections on massive FOREX fraud thefts.
It is unclear which is bigger: Vatican links to narco money, or links to FOREX fraud theft, or their control room for Nazis."
"They said Talley died from seven or eight self-inflicted wounds from a nail gun fired into his torso and head".