The Dollar in the Punch Bowl
by Edgar J. Steele
September 12, 2007
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My name is Edgar J. Steele. This is a Nickel Rant.
Some ask why I write financial articles, rather than continually pout over America's general political and social condition, seemingly my normal wont.
I have said, straight out, that my financial writings are designed to lure the unsuspecting back to my lair (www.ConspiracyPenPal.com) where I then can have my way with them.
But there is another reason to carry on about the financial end of things: Economics is just another way of looking at the same old gloom and doom I have been preaching for years.
What's more, national economics now is quickening and merging ever more closely with our political and social condition. After all, that is what war always is about, you know: economics. And ... has anybody proven better than have Bush and our current Congress that politics is about nothing but money?
The Dollar Does a Swan Dive...
Now the dollar has breached 80 (remember 85, then 84, then 82, all
of which now seem so long ago?), measured as it is against that
index of foreign currencies. The dollar is dropping faster
this week than a cheap hooker's panties, despite obvious illegal and
manipulative bailing taking place by the usual suspects, producing
modest gold/silver declines this morning on the heels of several
days' strong gains.
We may find out as early as today if the first part of my prediction of just last week - that "they" will weakly defend the dollar at 79, yet draw the battle line at 78 - comes true. Actually, I already know it will come true. After all, it has to.
However, even I am just a little surprised to see that it might happen so quickly. And so will the rest of my years'-old prediction come true, namely that the dollar eventually will sail on down to 65, enroute to oblivion.
...Right into the Punch Bowl
Picture the financial markets as a giant party, with everybody
queuing up to drink the Kool-Aid. Suddenly, someone keels over,
then another. Somebody cries out: "Ewwww...there's a giant
t**d floating in the punch bowl."
WhirlyBen (Bernanke, Chairman of the Federal Reserve Bank, which is private, not federal, has no reserves and is no bank, yet controls the dollar absolutely) shouts, "Relax, it's just a fake, plastic gag prop. Here, let me shovel in a bunch more to prove it."
"Gag is right," shouts another, "God, the smell is awful!"
That's kind of like what is taking place right now with regard to the dollar, as people begin to realize what "backed by the full faith and credit of the United States" really means.
There are ominous portents all over the landscape just now, indicating that something big is in the offing:
1. The impending and
unprecedented Air Force Stand-Down ordered for this Friday, together with
numerous civil defense "drills" scheduled during the coming week
throughout America, not to mention war drills scheduled throughout
2. The cancelled El Al (Israeli) flight schedule for Friday through Sunday (yes, the front end of the Jewish high, holy days, but that is not the point or the cause, rest assured).
3. The mysteriously meandering nuclear missiles that illegally flew cross-country suspended under wing on a bomber, not just as freight, which our government now claims was the result of an error (yeah, right, an error involving 5 nuclear missiles ... or was that 6 and now one is missing, as some claim?).
4. The Fed meeting scheduled for next Tuesday where discount rate cuts almost inevitably will be announced (if not sooner because of the ever-expanding mushroom cloud rising up over the collapse of America's housing and mortgage industries).
5. That just-released, already-proven-phony Bin Laden videotape (yes, Virginia, he died several years ago, just as then was reported upon extensively in the Arabic-language press but suppressed in the West, as so much is suppressed here).
6. That "accidental" emergency alert triggered in Illinois this morning.
7. Bush straining with everything he's got to get the American public on board with his "kill Iranians for Israel" plans.
8. Israel claims, suddenly, to have discovered nuclear installations in Syria.
9. Oil is about to breach $80 per barrel.
10. Dick Cheney's "gut feeling" that America's next terrorist attack "will be nuclear."
11. Michael Chertoff's "gut feeling" that America "will soon be hit hard."
Use Our Dollar or Die
Remember that, for years,
I have predicted that WWIII must start to mask implosion of the
dollar. Hardly anybody seems to have noticed that the dollar,
no longer backed by gold or, even, oil, now is backed by American
military force alone (use our Dollar or die - just ask Iraq
and, soon, Iran).
"They" clearly have made the stock market a priority. After all, crashing it (in absolute dollar terms) would lead to the current derivative hangover turning into a first-class nightmare faster than necessary. Discount and interbank interest rates - and general short-term interest rates, too - all have to ratchet down in order to continue the market's current death-defying act of levitation.
Who are "They?"
Please, there are children present. Go rent a copy of "They
Live," then follow it up with a rewatch of "The Matrix"
(ignore the sequels, which are trash) and you will understand.
Then come back and ask me that question again.
The average American seems not to care that the measuring stick (the dollar) gets shorter every day, just so long as his stock portfolio or retirement account doesn't drop in value, as measured by the number of those sticks. He will, believe me. He will. I almost added "but then it will be too late," but it has been too late for years, already.
Meanwhile, you can have the punch if you like. I'll stick to things a bit more precious, things with a metallic aftertaste.
New America. An idea whose time has come.
My name is Edgar J. Steele. Thanks for listening. Please visit my web site, www.ConspiracyPenPal.com, for other messages just like this one.
Copyright ©2007, Edgar J. Steele
Forward as you wish. Permission is granted to circulate both the written and audio version of this Nickel Rant among private individuals and groups, post on all Internet sites and publish in full in all not-for-profit publications. The audio version of this Nickel Rant may also be freely used in its entirety by for-profit broadcasting entities, but is not to be included in any recorded format which then is sold to others. The audio version may be rebroadcast, either live or archived on the Internet, either copied or linked directly to my web site, profit and nonprofit alike, so long as it is used in its entirety. In fact, I encourage any and all radio hosts to use it freely. Contact author for all other rights, which are reserved.
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