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Sunday, December 11, 2011

Be Careful

John Le Carre's new spy thriller "Our Kind of Traitor" is about how the international banking cartel - in league with an international criminal money laundering ring - now controls the British government, as they pay off and own several high ranking members of parliament who control the banking committees to insure that laws, oversight, and investigations all favor the nefarious activities of the banks.

In this novel these activities include murdering those who would expose some the criminal links and activities.

Far fetched entertainment, right?  Le Carre, though widely celebrated for creating realist based fiction, is still a novelist.  He tells stories for a living.  Leaving the murder aside for a second, (Michael Corleone: who's being naive, Kay?),  let's look at the what's going on right this second - here - and in Europe.

The world's central banks (the Fed and the ECB in collusion with China) are in the process of engineering another massive multi-trillion dollar bailout of the largest too big too fail multi national banks.  That money, as it is funneled to the banks - from your and my pockets - is immediately gambled in the Risk Markets.

What's more, everybody involved in the markets - from governments to hedge funds, to brokerage firms to anyone with their money in stocks and bonds is rooting for the bailout to be as large and as swift as possible.  No matter the lip service they may pay to "free markets."  Because they know that when the bailouts stop - everything collapses.

Meanwhile, nobody is allowed to monitor, oversee, or god-forbid audit these activities.  Is it so far fetched to believe that vast criminal enterprise involving all sorts of extortion, fraud, money-laundering, arms dealing and drug money is involved in the banking web?  Is it so far fetched as to believe that those who get in the way are summarily dispatched?

Look at MF Global where a billion dollars of little guy gambling and hedging money (farmers, grain sellers, small time investors) was stolen so that John Corzine could bet huge on sovereign debt.  Nobody knows where that money is?  Are you kidding?  Nobody knows how that money got stolen out of those accounts?  Nobody is even willing to admit it was stolen?  It's just some sort of clerical errror?  A billion dollar oops?

But one day not too far off little guys with all their money in pension funds, and brokerage accounts will wake up and that money will be gone.  Devaluations will take most of it.  Clerical Errors will take the rest.

Far fetched alarmist blogging right?  Anything to get a rise out of people.  Yeah, sure.  But just in case there's a shred of truth there, get yourself a little bullion.  It will be the only thing to survive the clerical errors and the devaluations.

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