Post by mainedawg on Jun 28, 2012 15:57:20 GMT -5
News & Analysis
The Most Important Meeting in the World ... Again
Thursday, June 28, 2012 – by Staff Report
The Fate of the Global Financial System Hangs in the Balance ... Critical meetings are taking place today and tomorrow which may decide the fate of the EU. With that as the backdrop, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management, to get his take on what is happening. Leeb told KWN the situation in Europe has "gone from bad, to worse, to outright frightening." Here is what Leeb had to say about what is taking place: "My attention right now is focused on Europe. What is going to happen over in Europe is going to be incredibly important. Any rational person looking at the calculations would expect Germany to play ball, which means come up with a major funding package." – King World
Dominant Social Theme: If it weren't for these EU leaders, what would we do?
Free-Market Analysis: Stephen Leeb is worried about the state of the world and has piled all his hopes on some sociopaths meeting today and tomorrow in Brussels. We use the word "sociopath" only to point up the lunatic determination it takes to claw oneself into a position of power such as held by Angela Merkel, François Hollande, et al.
For a seeming eternity now, the top "leaders" have been meeting at expensive watering holes amidst fine wine and rich food to basically ... save the world. The rhetoric is heated and the "summits" produce an endless flood of articles and pontifications.
Over and over, breakthroughs are hailed by pro-Euro publications and the world is pronounced safe with a generalized sigh of relief. Then a few days later it becomes clear that nothing has changed. Gradually reality sinks in: these exercises are vast and dramatic promotions, full of sound and fury but signifying nothing.
That is to say they are promoting a dominant social theme ... that a few "top people" are capable of saving the world and that everyone else is merely history's bystander. We wrote about this here: "Elite Orgasms in Rome: The Phoniness of Modern Leadership."
This is such a pleasurable meme for the power elite that wants to run the world. It is kind of analogous to the meetings between Winston Churchill, Franklin Delano Roosevelt and Joseph Stalin at Yalta. Even the language is similar.
Then, the meetings were characterized by the nomenclature "Big Three." Now, Reuters labels today's politicos the "Big Four." Once again, we are advised to watch passively as the fate of the world descends on the shoulders of four duly elected representatives.
In the 20th century it was fashionable to believe, in the West anyway, that economies were run via market forces. What we call the Internet Reformation and explanations of how the world really works presented via information technology have made it clear that the idea of a market-based economy has no traction at the top of hierarchy.
In fact, a group of impossibly wealthy, dynastic families – a power elite – runs the world and is nudging it with increasing determination toward full-on world government. This elite, along with its enablers and associates, uses fear-based memes to achieve its purposes by frightening middle classes into giving up wealth and power to internationalist facilities.
The idea that only a few top individuals can determine the fate of the world is surely one of these themes, and one breathlessly subscribed to by the mainstream press. This interview with Stephen Leeb is a great example of how this meme is propagated. Here's a little more:
Stephen Leeb continues: "You would also expect the ECB to be allowed to increase its purchases of bonds because they need some type of major package. But investors have to back up a second, and when you back up, you have to be a little more worried. The reason to worry is because this is the 19th time the European leaders have gotten together.
During that period we have gone from bad, to worse, to outright frightening ... "Last night I was reading an editorial in The Economist that was talking about France. They are saying that Hollande is arguably the most powerful Prime Minister of France in 40 or 50 years. He controls virtually every level of government in France. Meaning, he has all of the layers of government in his pocket.
This is a man with tremendous power in France, and he's not backing down from anything he said in his campaign. He plans to raise marginal tax rates to a staggering 75%. The state or government in France is already 58% of the economy. What's it going to be when he finishes? Will it be 75% or 80%?
What's going on in France is starting to look a little bit totalitarian, and this is in France of all places. This is a country that has resisted the chaos that we've seen in a lot of other countries.
You know a piece from JP Morgan crossed my desk yesterday, and what they pointed out was that in the 1930s, a key level for unemployment was 25%. When unemployment breached that level, that's when you started seeing authoritarianism really come into vogue. That's when the Germans started voting for the Nazis. Remember, Hitler was elected to office initially.
My point is that we are seeing those kinds of unemployment rates in Greece and Spain, and this is where you see a danger of those types of totalitarian governments. The world and the global financial system are in an extremely dangerous situation. So investors need to be careful and make sure they protect themselves."
So much misinformation in so short a time! The Third Reich was funded by the West – it didn't merely just happen. Read books like "Hitler's Secret Backers" or thousands of quasi-scholarly articles on the Internet. If authoritarianism is to make a comeback it is likely because Western elites want it to occur. Here's something from an Amazon review on Hitler's Secret Backers:
In 1929 most people outside of Germany had not heard of Adolph Hitler. There is little reason why they should have -- the nazi party was receiving less than 2% of the vote at that date.
This slender pamphlet, not really qualifying as a book, containing a total of 55 pages including editors notes and summation, tells of three meetings between 1929 and 1933, where $32,000,000 was transferred to Hitler by wealthy New Yorkers to promote anti-communism and, more importantly, anti-French actions leading to the termination of the reparations of the Treaty of Versailies.
The book itself is cloaked in mystery, authored by a pseudoname, designed to protray involvement of Paul Warburg as author. It was swiftly banned and suppressed in its day, and only three copies survived the initial book-burning in 1933. At the time of its publication, October 1933, the Blood Purge, Night of the Long Knives still had not occurred yet. Hitler's ruthlessness was still only known to the few inside Germany itself who had reason to fear him based on his death squads.
How can Stephen Leeb not know about this sort of thing? He's an important man with an analytical if not scholarly bent. But one simply needs to be able to use a search engine to find out that important so-called fascist regimes were to some degree funded by the same powers that later on ended up destroying them.
Of course, having destroyed "national socialism" the same powers-that-be erected it after the war on a global scale. The entire post-war setup is authoritarian in the extreme, from the International Monetary Fund to the World Bank to the United Nations and the Bank for International Settlements itself. All these entities are mercantile ones, in that they are quasi-public entities – with public clout – yet evidently and obviously run by private interests.
The EU itself is a poster child for this sort of authoritarian approach to economic dealings. It is an absurd and entirely manufactured crisis. There was no need for a single euro-wide currency and we've run a number of articles (along with many others) now showing clearly the currency was introduced to create the chaos that is now taking place in order to further consolidate a political entity called "Europe."
Leeb must know full well that those behind the Eurocrats meeting today and tomorrow in Brussels CAUSED the problems that Leeb now wants them to solve so desperately. Such statements as made by Leeb and others only reinforce the authortarianism that is nakedly on display at these "summits."
Leeb does make one significant statement in his interview that is quite true and reveals that he knows exactly how our current cetral banking faux-economy works. Toward the end of the article he states,
The upside still remains many, many times what the price of gold is today. And I would just reiterate that the biggest bull market in everyone's lifetime will probably be in these junior gold miners. That's really the only marginal gold production that we have in the world today, these juniors. They will start taking off at some point, Eric. I just think investors should buy those quality juniors, put them away and forget about them. They're going to make people rich someday."
Leeb fully understands from this statement the nature of the golden bull that has been in place for over a decade now. As in the 1970s, there will surely be a junior mining blow-off before the end of this business cycle. By making this statement, Leeb shows clearly that he understands the nature of the "real" economy.
For others who understand too, this statement of Leeb's puts his other points of view into perspective. He knows what is actually going on, even though his sentiments regarding the EU read like a textbook elite promotion.
Conclusion: Leeb reflects the schizophrenia of the money business. It is always necessary to read between the lines with these people. They know a great deal more than they are willing to say.
www.thedailybell.com/4034/The-Most-Important-Meeting-in-the-World-Again
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