hello again Richard - have been a subscriber to Bill Buckler for about 10 years and his latest on credit  default swaps CDS (not to be confused with CD’s, which seem to become an endagered species) in the amount of 62Trillion $ is as breathtaking, as the few 100 billion of toxic waste already written off or better confessed to by the financial industry is mere window dressing of the systemic and lastly unmanageable and past redemption debt load is a mere drop in the ocean of the “notional values” of the derivative pyramiding scheme. A scheme so overleveraged today that no one or all  global CB’s will not be able to cope with it in the end.

The audacious greed and arrogant avarice of the hedge funds, banksters and financial rocket scientists manifest in todays bubblemanias have found their long lost reverberations in the real world of economy, resources and their spiralling prices are  now haunting their inventors and investors; Unfortunately to the detriment of the rest of the globe and its unsuspecting inhabitants finding themselves trappped in irredeemable debt and worse and wondering what hit them as the non core CPI necessities “eat” away the rest of their budgets and most of their lifestyle.

While the West is still spending  (consuming-great concept to consume yourself to riches) itself to oblivion the BRIC states are rapidly filling the void and the big “a ha” is slowly dawning that there is a bigger world out there wanting to become more prosperous and generating a new powerful middleclass by hard  labor, production and productivity, while the West is seemingly destroying its own, squabbling over totally inconsequential and futile  political issues of how to prolong the same disfunctional - though politically correct (what a harebrained concept) response to todays pressing issues. 

Real issues of food and energy availability, resources in a finite world, growth not only of population, but economic growth against all odds as a prerequisite to keep up the pretense of a workable financial system, doomed since inception at Bretton Woods and totally disinherited by Nixon by cancelling any anchor to reality (Gold) in1971 and so the globe has inherited a floating rate currency system by default anchored to a reserve currency that won’t be worth the ink slapped on the paper in due time- or as mark Twain qipped, the government slapping on some ink on a normal piece makes it instantly worthless. 

There are too many issues to count in the regard of what’s ailing the globe - just to nail a few -growth fetishism, globalisation, consumerism, debt and leveraged derivative bets, ethical and moral standards on all levels degradated, political correctness - a joke or a yoke to freedom of speech and many more; 

To make it short, we as the public have succumbed to  the indoctrination we’ve been fighting as we’ve had a real enemy to our liberty - communism - and now we’ve lost sight of our own ideals and betrayed all our beliefs by the relative comfort of the victor and have squandered the “peace dividend” in less  than 20 years and have invented a host of new enemies - the terrorists within ourselves, a war fought by our fearless leaders against us, the people.   

 … Pax Vobiscum - frr