It is certainly old news around here that terrifying inflation in prices, thanks to the monstrous inflation in the money supply caused by the Federal Reserve creating So Freaking Much Money (SFMM) for the last few decades, has caused me to venture to that dangerous precipice between being merely weird and obnoxious, to being a raving lunatic screaming from the rooftop “We’re freaking doomed!”
Of course, I also thunder, “Buy gold and silver! Buy gold and silver! Buy gold and silver!” until my voice is raspy and my throat is sore, only to have my words of wisdom and financial salvation drowned out by the roar of the assembled crowd chanting, “Jump! Jump! Jump!” and I’m trying to yell loud enough to tell them that they have it all wrong, and that “I have no intention of jumping to my death, you morons! But if you don’t buy gold and silver against the horrific inflation in prices unleashed by the Federal Reserve creating so much money, then you are, ironically, jumping to YOUR financial deaths! Hahaha! Go to hell, all of you!”
I even threw down some leaflets of the essay “A Vale of Dollars” by Joel Bowman, Managing Editor here at The Daily Reckoning, in which he writes, “According to data released by the World Bank, food prices rose a stunning 15% from October through January. The World Bank’s own food index now sits just 3% below its 2008 record.”
This revelation did cause some discussion amongst the, apparently few, literate crowd members, and the calls for me to “Jump! Jump! Jump!” faded, and people started talking about how much more food and gas cost.
But for me, I shut up when Mr. Bowman noted that “the price spike prompted” World Bank chief Robert Zoellick to, I assume, rise up out of the neo-Keynesian fog befuddling his apparently congenital stupidity and to remark that “Global food prices are rising to dangerous levels and threaten tens of millions of poor people.”
Well, first off, I gotta tell say that Mister “They calls me Clueless” Zoellick is, again, demonstrating a stunning, complete lack of any real grasp of the situation by laughably estimating that “tens of millions” of people will be adversely affected by food prices soaring, when the real figure is at least ten times that great, if not a hundred times greater, or (more likely) hundreds of times greater than his ridiculous lowball estimate, as everyone in the Whole Freaking World (WFW) will, to one degree or another, be affected by inflation in the price of food because there are very, very few people, if any, in that aforementioned Whole Freaking World (WFW) to whom a soaring price of food is completely insignificant.
So, again, what a moron! Although, this is what you would expect from him having happily participated in the whole monetary insanity, every step of the way, so as to be a direct cause of the world’s economic misery!
It’s too bad that Mr. Zoellick didn’t anticipate this whole thing, like the Austrian Business Cycle Theory did, years ago by saying something like, “Global money supplies are rising to dangerous levels and threaten tens of millions of poor people,” although, even then, it would have still been a gross understatement, but on the right track, anyway!
And before you think that I have such a low opinion of Mr. Zoellick because I am naturally hateful, The Daily Bell asked John Perkins, author of the best-selling Confessions of an Economic Hit Man, his opinion of the World Bank.
He replied, “The World Bank is a tool of economic hit men, there is no question about it. It’s the tool of big corporations, the IMF and most of what we call intelligence agencies of the United States, CIA and NSA. Essentially the job of all these organizations is to help what used to be just US businesses – now we call them multi-nationals – get themselves established around the world in positions where they can exploit the world’s resources, natural resources and human resources.”
And now Mr. Zoellick is shedding crocodile tears about the poor having to pay higher prices after he, as a head banker, aided and abetted the creation of all the excess money, to finance the takeover of “the world’s resources, natural resources and human resources” that made prices go higher? Hahaha! Too, too much! Hahahahaha!
Wiping the tears from my eyes, I note that this kind of treachery by banks and bankers, I assume, is what prompted George Bernard Shaw to say, “You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.”
And it is also what makes me say, “Buy gold, silver and oil stocks when your stupid government is allowing the evil Federal Reserve to keep creating staggering amounts of money, week after week, month after month, year after year, decade after decade!”
And so while both Mr. Shaw and I agree that buying gold is the way to go, there is, alas, no evidence of Mr. Shaw saying, “Whee! This investing stuff is easy!” although I think that he would at least agree with it being easy! Whee!
The Mogambo Gurufor The Daily Reckoning
Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning , and other fine publications. For podcasts featuring the Mogambo, click here.
Brilliantly entertaining — I loved the rooftop scene. As usual, you nailed it, Mogambo!!
I have attempted to no avail to inform friends about the creation of so much freaking money by the evil Federal Reserve and they should buy at least some silver.
The responses are usually something close to the rooftop scene.
In most part, people are morons.
Income inequality in the U.S. has reached epic proportions. So much so that "1%" is no longer just a simple fraction. Now it's now much more than that, used as a pejorative symbol of excessive wealth and the greed of the American upper class. Marc Faber explains why this is unfair, especially as regards U.S. tax laws. Read on...
Throughout history, financial markets have been comprised of a series of bubbles and crashes. However, the Fed’s endless policy of easy money has broken the mold when it comes to these financial bubbles. But, as Doug French explains, it seems some investors refuse to learn from the lessons of the past. Read on...
Remember the Fed's "taper talk"? Well, it's starting to rear it's ugly head again. Of course, as with almost any market trend, it's all about perception. And while some investors may be panicking, Greg Guenthner explains how you can use the current "taper trend" to your advantage. Read on...
With so much of the national media focused on negative stories, it's easy to feel a bit depressed and to think that the world is hopelessly doomed to failure. But, as Alexander Green points out, there are several things for which humanity, especially in the developed world, should be eternally thankful. Read on...
The president and his supporters are trying to convince Americans that all of the problems with the implementation of Obamacare are simply bumps in the road, normal as part of any new program in its early days. Of course, that's not true. In fact, that's exactly what one should expect when the government is in charge.