Monthly Archives: April 2019

New Age Gold Rush

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The world’s central banks, large investors & financial houses are all buying gold. This kind…


Not this kind..

“Gold certificates” are understood as worthless by serious gold investors. This is because a gold certificate has no use value, while precious metals do.

So why this gold buying spree? The short answer is the global financial elite see the next crash coming, and are bailing out on the US dollar to hedge with gold & other precious metals. Governments see global conflict coming, and want physical gold in their banks.

For the vast majority of the world’s population, there was never a recovery from the 2007-08 economic crash. For workers it’s been suppressed wages, high debt, and an ever eroding standard-of-living. The cost-of living, particularly for housing, real food, and health care has skyrocketed.

Now, US sanctions on Iran have allowed Saudi Arabia’s barbaric monarchy to effectively control the global oil supply, so expect record gasoline prices by this summer. Oil is “black gold,” the most important commodity in modern capitalism– outside of human labor.

The US Federal Reserve’s stock market disaster of December 2018, after the beginning “quantitative tightening,” signaled the end is near. The financial markets are comparable to junkies, who need ever-increasing doses of smack (free money) to sustain themselves. They can never quit, or else they’ll die.

The Trump team now advocates more injections for corporate America, further inflating this stock market bubble. Trump’s hopes in 2020 depend on it, but it is questionable whether we will even reach 2020 before this entire house of cards collapses, and a revolutionary situation presents itself. There is mass discontent among America’s workers & youth. Everything in the media is meant to deflect from this reality.

Getting back to real gold, its demand has never been greater, and the reasons are obvious. Gold is always a safe haven for store-of-value, and never depreciates naturally. The same goes for silver, platinum, palladium, and all other precious metals.

As discussed in an earlier article, the fact that precious metals don’t tarnish, makes them useful in chip circuitry, electronics, and a wide range of technological applications. Technology is a major battlefield among competing nation states. Under US capitalism, Russia & China are considered “strategic competitors” to be crushed.

Gold is limited in supply, as there’s only a finite amount of it in the Earth, so everyone with money is looking to obtain this invaluable resource. It appears that Africa has become the major global supplier of raw gold ore. Reuters just reported on this global black market which funnels through the United Arab Eremites (UAE). For reference, the UAE is closely tied to the House of Saud– and thus Washington, Wall Street & Langley.

The environmental cost of this illicit mining & refining is devastating, and just another unaccounted cost of capitalism. Black market means no taxes are paid to the governments of these African nations on the gold that is being smuggled out. This is how 95% of Africans are being cruelly exploited & poisoned by this new age gold rush.

The World Gold Council reports that central bank gold buying is at the highest levels since 1971. Of course, this is when US President Richard Nixon (advised by Henry Kissinger) took the US off the gold standard. Gold prices had been held at $35/ounce since Breton Woods, the post-WW2 global economic agreement among the winners.

By January 1980, gold traded at $850 an ounce, proving the US had been suppressing the value of gold for decades. This had the convenient effect of inflating the value of the dollar, which held unquestioned predominance as the global reserve currency through the second half of the 20th century.

Since early 1980, monetarists such as Fed Chairman Paul Volcker have adopted the theory that stock markets are the true measure of economic health. The market crash of 1987, due to junk bonds, established the “plunge protection team” and the “Fed put” which meant big investors would always be bailed out in times of crisis. This is where the term “too big to fail” came into being.

But the crash of 2008, and the rise of China as an economic superpower has called US predominance into question. A decade later, nothing has been resolved. The US government still insists on maintaining its economic hegemony, while electronically printing trillions of dollars for their well-connected banker cronies. The result has been the inflation of the largest financial bubble in history, the stock & bond markets.

Trump’s chief economic advisor Larry Kudlow (above) is now calling for interest rate cuts, with an immediate cut of half a point. The Fed funds rate (bank overnight lending rate) is currently ~2.4%. Any Econ 101 student would surmise that if a 2.4% Fed rate is too high, then the economy is dead. Especially when ordinary people can’t get a business loan for less than 10-12%.

Consider that ~12% of student loans are now in default, as 45 million Americans carry student loan debt. Those loans start at 8-10%, and go up from there. Student loan borrowers must “carry on,” while bankers & hedge fund speculators can’t manage their businesses with overnight loans at 2.4%!

All this reaches into the murky world of financial debt, where much is unknown (by design), with modern capitalist theory always assumed to be good coin. Let’s go back to Econ 101. Currently US national debt is officially over $22 trillion. For comparison, US GDP was calculated to be ~$19 trillion in 2017.

This GDP is an over-estimate, as the DJIA, S&P 500 & NASDAQ are all littered with zombie companies that are underwater in debt, yet counted as net contributors to America’s economy. It’s estimated that globally, one-in-six corporations are zombies. Thus, negating the fictitious value of these zombies removes over $3 trillion from the current US GDP.

By definition, zombies suck up resources, while contributing nothing of value to a society. Tesla, Netflix, Uber and just about any bank you can name are real-world examples of zombie corporations.

A dirty secret among Wall Street & government insiders is that the $22 trillion of national debt is only the tip of the iceberg. The remaining 90+% is so-called “hidden debt,” in the forms of underfunded (looted) pensions & worthless derivatives.

Social Security, Medicare, IRA’s, etc., are all bills which most taxpayers expect to be paid. These are the paychecks that many, many retirees need to survive. The truth is there is basically no money left in these accounts. They are industry-termed as “unfunded liabilities.” US militarism & Wall Street speculators have drained them for corporate profits.

This money was “borrowed” by Wall Street investors and fueled the derivatives market, which is surely the largest part of this hidden debt financial criminality, with a global estimate of $1.2 to $1.5 quadrillion in toxic “assets.”

These are “futures” contracts which have no market value, yet investors will expect payment– 100 cents on the dollar. This bailout is expected to come from the taxpayers, in case you didn’t know. Except there isn’t anywhere close to enough tax revenue to pay this bill, as Fortune 500 corporations don’t pay taxes, so the US government is now bankrupt.

Once the numbers get this huge, debt service (making just the interest payments) becomes impossible through the magic of compound interest. This is where the financial system is right now, with militarism re-arming to the teeth, trade wars erupting, and central banks scrambling to buy gold and other precious metals, as everyone gears up for war.

What’s happening in investment is a global run on the only resources that truly hold value, particularly precious metals. Gold today is trading today at ~$1,275 per ounce. This is an absurdly low price in US dollars, as discussed, with the Federal Reserve electronically printing money in order to prop up its fake economy. When the crash comes, gold & all other precious metals will skyrocket in value.

Since the US abandoned the gold standard in 1971, precious metals have been manipulated downwards in price, as government policy to discourage widespread investment. Gold is physically heavy, so it is costly to transport. Obviously transportation also requires heavy security. These are the costs & risks of maintaining gold reserves.

Many countries are now calling in their gold bullion from foreign banks, with mixed results– at best. The process of transfer which used to take weeks or a few months, now takes years at minimum. No one wants to give up gold, and possession is nine-tenth ownership– as the saying goes.

For example, Venezuela’s government trying to get its gold, which is “stored” in the UK central bank. This is a sticky example of international finance & diplomacy. It is understood that if world war breaks out, all foreign gold reserves would be confiscated by that nation’s banking system.

The stock markets have boomed, as corporations in every industry (through access to unlimited cash), have eviscerated work forces, imposed wage freezes & austerity, while skimming the surplus value for themselves. There is no longer any capital investment into innovation, R&D, or wages; as money is siphoned out through QE printing for stock buybacks, then it is moved off-shore, until it can be repatriated at an ultra-low tax rate, as happened with the Trump tax cuts.

Billionaires all over the world have their fortunes hoarded in private accounts, which does nothing helpful for the overall economy. They use it to buy more stuff like art, yachts and palatial mansions for themselves. That’s what you do when you lead a fake life, chasing fool’s gold.

The day of reckoning is coming, as the political consciousness of the working masses becomes more socialist. This level of inequality, where rich & poor people are diametrically opposed under capitalism, is not sustainable. These issues have reached the point where they can no longer be ignored, as too many people are adversely affected.

The media’s fake news isn’t working so well anymore either. The primary media narrative of the past two-and-a half years in America has been “Russiagate.” What is this about, really?

The US government & national intelligence establishment has hated Russia since the Revolution of 1917, led by Lenin & Trotsky. Before then, the US never cared about Russia under tsarist feudalism, except in literature. What this means is that all anti-Russian propaganda is about ruling class hatred of socialism.

The reaction of the wealthy class to the upcoming crisis is to hoard cash, and now gold. The working class response must be to arm & organize itself with a socialist program, which recognizes that the labor power of the worker is the only true wealth a society can create.

The only political party that can lead this global revolution is the International Committee for the Fourth International (ICFI), which is represented by the Socialist Equality Parties (SEP) in nations around the world, and can be found online at the World Socialist Web Site (WSWS), which publishes daily.

Every other political tendency which claims a leftist position or socialist/Marxist program is a false-flag organization that flows into liberal capitalism & Stalinist reaction. This includes all the labor unions, the DSA, and the now-defunct ISO.

The ICFI is a legitimate political party, with origins that go directly back to Trotsky’s formation of the 4th International in Paris in 1938, two years before he was assassinated by an agent of Stalin. Any attempts to organize, strike, or politically protest (such as freeing Julian Assange) should be done through (and in sympathy with) this revolutionary organization. The same applies to political contributions.

The ICFI/SEP/WSWS are unique in that they are the only political organization in the world that won’t stab the workers & youth in the back. Instead they seek to educate, unite & lead the oppressed workers of the world in a socialist revolution that will conquer capitalist tyranny, and establish an equal & free global society.

Is that anything to be afraid of? No, it’s something to embrace.

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New Keiser Comments

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The first one got through. But the theoretical explanation of historical economic models will surely get censored by Russia Today, so why bother?

Preface: I view the Keiser Report as today’s “money talk” version of WKRP in Cincinnati (1978-82). The program always begins with Max Keiser saying in one form or another, “Hello, I’m Max Keiser. Welcome to the Keiser Report.” If you’ll notice, that has a very Les Nessman quality to it. Max Keiser also has a lot of Herb Tarlek in him, with a touch of Johnny Fever.

Fans of course love Stacy Herbert, who plays the calming influences of Jennifer Marlowe & Bailey Quarters, which holds things together. The second-half interviews are hit-and-miss, just like original series.

Great show Stacy & Max!  Trans·mog·ri·fy (verb): to transform in a surprising or magical manner.

To second-half guest Rick Ackerman: Hyper-inflation implies a huge financial crisis, which isn’t sustainable. At that point it’s two paths: 1) the monopolists win, or 2) there’s a socialist revolution of the masses. Hyper-inflation can’t normalize to the point where “you can take a few bills out of your wallet to pay the mortgage.”

To the commenters here: Yes, Max & Stacy check the comments. If you have something to say, they’ll even read them. Censorship is never the answer.

On Max Keiser’s idea that we are becoming neo-feudalist, that’s impossible. Feudalism was an economic system that came into being after centuries of post-Roman Empire anarchy. Feudalism was peasant (farmer) based, and its reinforcing ideology was the Catholic Church. Capitalism comes from the Enlightenment & science, and is a higher economic model, which began in England as the industrial revolution.

The reinforcing ideology of capitalism is the power of money in the form of capital. Napoleon spread it across Europe, using superior forms of violence in conquest. The one “great power” that stayed backwards was Russia, which Napoleon couldn’t conquer, due to its vastness & harsh winters. This became historically significant in 1917.

Capitalism is an urban (working class) economic model, which in its early stages allowed for mass education & ground-breaking innovation. but quickly turned into monopoly. After the Great War, America took the lead in global capitalism.

But inevitably it becomes an uncontrollable Frankenstein which consumes everything. Theoretically, the masters of capitalism seek to rule a world of slaves. This “highest level of capitalism” is unachievable, because the people of the world won’t live as slaves. They’ll die first. The only path out is a socialist revolution.

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Fake Intellectualism

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Here’s my summary of the Slavoj Zizek vs Jordan Peterson “debate,” held April 19, 2019 in Toronto.

https://www.youtube.com/watch?v=78BFFq_8XvM&t=6036s

To put it simply these two anti-Marxists rambled on with sophistries for over two hours, while never making sense to anyone, especially to those who work for a living.

As noted by Peterson in his opening remarks, tickets for this “debate” were scalping for over $1500, which means the audience was well-heeled. No one who works for a living (and is on a budget) could afford to attend this debate. The class bias of the audience was confirmed, with loud applause for every irrational comment disguised as meaningful philosophy by either individual. It more resembled a political convention, than a serious discussion, with the audience functioning as cheerleaders for their favored candidate. That is the definition of post-modernism, where nothing makes sense, and everything is subjective– including facts.

Post-modernism is the ideology of late-stage capitalism, where everything is breaking down & elite criminality pervades. Post modernism is used to fill in the cracks of society with irrationality, in order to disorient & demoralize the working masses. Enter Slavoj Zizek & Jordan Peterson.

Neither of these proclaimed “intellectuals” knows a real living Marxist, much less engages with them on an intellectual basis. Any leading member of the ICFI, which publishes the World Socialist Web Site (WSWS), would make Zizek and/or Peterson look silly in a real debate. Capitalism blacklists the WSWS, in order to elevate this nonsense, and present these frauds & their elitist garbage as serious analysis.

Nowhere in this debate do the speakers discuss economic equality with any seriousness. Nor do they discuss internet censorship, militarism, and the criminal wars of aggression which are all policies of the US and every other government on the planet today. These issues are fundamental to the survival of the human race, and yet they are danced around by these intellectual impostures.

Slavoj Zizek on Hegel is painful, in how he contorts his arguments in order to separate dialects from Marxism. As anyone who has ever tried knows, Georg Wilhelm Friedrich Hegel is very difficult to read. If one wants to understand Hegel’s revolutionary philosophy (dialectics), the best critiques in history are those of the Russian Marxist– Georgi Plekhanov.

David North of the ICFI has written extensively on Plekanov. Vladimir Lenin said Plekanov’s writings are the best education on the writings of Hegel, and essential reading for those who seek understanding of his complex philosophical ideas. There is no mention of any these essential references from Zizek or Peterson, who probably haven’t even read them, as neither has any real interest in truth, but only elevating themselves.

Both of these ivory tower hucksters are hung up on “hierarchies,” which is awfully convenient. Coincidentally, capitalism is hung up on hierarchies too. These “thinkers” don’t ever see beyond their own noses. Revolutions happen in history, but never in their thoughts, analysis or conclusions. Thus, when a revolutionary crisis presents itself, all this pseudo-intellectualism vanishes into nothing. The millstones of history grind exceedingly fine, and Zizek & Peterson are destined for it’s collective dustbin.

This spectacle did nothing to raise the intellect of humanity. It was really two phony emperors strutting in their underwear. With that said, Slavoj Zizek naked is another painful image, but it has value– in the negative. Physically Slavoj Zizek is a mess: overweight, slumping in posture, constantly touching his face & nose, and slobbering in his speech. If Zizek is a genius, then why doesn’t he fix his lisp, and learn to control his spitting? That’s also a measure of intelligence.

I challenge Slavoj Zizek & Jordan Peterson to address this economic problem rationally. Globally in 2019, there is now roughly $55 trillion in government-held Treasury bonds that are worthless, but counted as “assets.” Consider the global derivatives market which is conservatively estimated at $1.2 quadrillion, and held almost entirely by big banks & investment houses. That’s 20 times more “assets” that are worthless, than what the world’s governments already hold.

Global GDP is around $80 trillion, and can never grow fast enough to meet projected targets, so these futures are all unpayable. Unlike 2008, the sheer size of this fraud makes it impossible to be bailed out. When the next crash comes, capitalism will face a revolutionary crisis. This is the conundrum that Trump, the Democrats, and all the rest of their ilk seek to avoid at all costs, as its their heads that will roll. What do Zizek & Peterson have to say about this concrete problem? Nothing, at all.

As mentioned earlier, Zizek & Peterson are anti-Marxists, which means they are (in the final analysis) apologists for capitalism, and well-paid for their services. Their celebrity is just another extension of this vast fake economy, that rests on free money from the central banks, which is used to prop up a capitalist system that is about to collapse.

The rise of fascism is a serious political development, yet neither of these charlatans take it seriously. When ICFI chairman David North states in the video embedded above, “Fascism is punishment for the failure of workers to build a leadership,” one instantly grasps that meaning.

Intelligence is the ability to communicate complex truths directly & understandably. Those who attempt to dazzle their audiences with intellectual nonsense, are ultimately insecure in their ideas. Thus the constant nose-touching by Zizek. In the end someone who is smarter will challenge them, and eventually historical events will prove both of them wrong. That is an unavoidable historical truth.

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Assange Arrested– fascism makes its move

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What you know and how you feel about this image defines your politics, at a crucial moment in history. You are either fighting for human rights, such as free speech & the public’s right to know, or you are in bed with the fascists. Not caring puts you in the latter camp, by default.

Julian Assange is being charged by the US Department of Justice with “conspiracy to commit computer intrusion,” alleging he helped US Army intelligence analyst Bradley/Chelsea Manning hack into a US government computer network storing classified material, back in March 2010.

The evidence they have is secret, and no one outside the deep state has seen it. Their idea is that it stays that way, with a secret trial & conviction in a kangaroo court. Most legal experts agree the DOJ’s case against Assange is weak, and would be defeated easily in open court, so “national security” become Trump’s trump card.

This embassy stand-off couldn’t go on forever, so now it is up to socialists to unite the people and free Julian Assange.

An anonymous whore for US/UK imperialism, cowardly speaking through her attorney Elisabeth Massi Fritz, stated to the media this morning, “We will do everything we can to get the prosecutors to reopen the Swedish investigation so that Assange can be extradited to Sweden and be prosecuted for rape. As long as the statute of limitations has not expired my client has hope for restitution.”

The original rape charges against Assange were dropped years ago, due to insufficient evidence, after an extensive investigation by a Swedish prosecutor. The whole ordeal reeked of a classic “honey trap” by the CIA, which is a world-wide leader in these types of dirty-tricks operations, along with media manipulation & psy-ops. This is the reason Julian Assange took asylum in the Ecuadorian embassy in London in the first place.

The Big Lie the CIA, DOJ & Trump team are using now, is to accuse Assange & Manning of hacking into US intelligence computers, to reveal that the NSA/CIA/FBI/etc have already hacked into every American’s internet devices & have all their online activity in storage, without their knowledge or consent.

The #MeToo Democrats are just as complicit in this frame-up & travesty-of-justice as the Trump Republicans. Anything that distracts from the content of the Wikileaks releases is fake news.

Without Wikileaks & Julian Assange, the world would not know about US wars crimes in Iraq (above) & Afghanistan, ubiquitous NSA spying, and the DNC email leaks that proved the 2016 Democratic primary was rigged for Hillary Clinton, the favored candidate of Wall Street.

As for the DNC email leaks, it was surely NOT Vladimir Putin or any Russian agent, but most-likely DNC staffer Seth Rich. The DNC email leaks occurred in June, and Rich was murdered on July 10, 2016, about a block from his apartment in Washington, D.C. No money or jewelry was stolen, in what appears to be a profession hit. The case is still official unsolved.

Wikileaks published the DNC emails on July 22, after the New York Times, Washington Post, and all the rest refused. In the ensuing months, several attorneys in then-DNC Chairwoman Debbie Wasserman Schultz’s district in south Florida were murdered under suspicious circumstances, while investigating voter fraud. These murders also remain unsolved. That’s a taste of how high this conspiracy extends, and these are the methods they will use to hide the truth from the public, in order to stay in power.

The media, politicians and wealthy elite don’t want people to understand this, for good reason. It challenges their authority, and powerful people get nasty about that. This is what the persecution of Julian Assange has been about from the start. Only fierce & determined resistance will win his freedom, which will be a victory for all who demand truth and value the right to know.

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#MeToo vs. Joe Biden

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The #MeToo Democrats have hit a snag with Joe Biden. His creepy behavior towards young women doesn’t play with his 2020 Democratic front-runner status.

Yeah, this is creepy behavior, a US VP abusing his power– no question. But that’s what he is, so what did you expect? Of course, no feminist said anything at the time, but now it’s an issue for them.

The contradictions & hypocrisy of the #MeToo witch-hunt are coming into sharper focus. The #MeToo campaign forever diminished itself during the Kavanaugh Hearings last summer, when much of the already skeptical public saw through the #MeToo lies, which served to promote an arch-reactionary judge to the US Supreme Court– giving it a permanent 5-4 hard right-wing majority.

This reactionary form of feminism is also how Donald Trump became US President, to his surprise on November 8, 2016. Today, the #MeToo campaign’s coordination with “Russiagate,” is best personified in Rachael Maddow. I admit, this video below is painful to watch, but it is instructive.

Maddow has lost over 500,000 viewers since this broadcast on March 22, 2019. That was when the Mueller Report was released, exonerating Donald Trump from any charges of “collusion with Russia.” Yet, this MSNBC air-head still holds her longstanding position on “Trump’s ties to the Kremlin.”

Both these campaigns (#MeToo & Russiagate) are linked to censorship of the internet & blacklisting of socialists, which fascists (Republicans/Trump) approve.

ICE raids that violate the human & constitutional rights of those who have immigrated to America are also systematically ignored, as are US foreign wars-of-aggression. There is no longer any hard news coming from Iraq, Afghanistan, Syria, Yemen, etc.

Saudi Crown Prince Mohammed bin Salman ordered a brutal murder & dismemberment of a dissident journalist, Jamal Khashoggi, on October 2, 2018.

Khashoggi even wrote for the Washington Post, but events that shock & horrify the world get buried in the US media, as Saudi oil must keep flowing, and always remain traded in US dollars. Saudi Arabia is the world’s leading oil exporter, and linking crude to the US dollar makes the US-Saudi relationship “special.”

Like Israel, Saudi Arabia can commit any war crime it pleases, short of nuclear war, and not be sanctioned internationally– due to US support. This assistance from Uncle Sam comes militarily, economically & politically. These are the deep state interests, which make up the centrist faction of the Democratic Party.

The Democrats have split themselves with this #MeToo Frankenstein they created. The “progressive” faction of the Democrats are insisting on a woman presidential candidate for 2020– in Elizabeth Warren. The centrists prefer Biden.

In earnest, both factions are fascist, and offer nothing for working people & disenfranchised youth. This ideological battle among powerful Democrats promises to get ugly, in the media and behind-closed-doors. All of this reactionary filth plays into the hands of the Trump team, which is why Marxist analysis is so important.

Another critical issue that is never honestly discussed in the corporate news, is the ongoing financial crisis for ~85% of Americans. The stock & bond markets are booming for the ultra wealthy, but the real economy has stagnated. There are fewer good-paying jobs than ever, despite the great need for qualified workers everywhere.

Ailments of US capitalism include an obesity epidemic, an opioid crisis, and a lack of access to basic health care. Health care is now run by insurance conglomerates, hospital chains & big pharmaceuticals. Privatization & equity capital have gutted work forces in every industry, taking all the profits for themselves in the forms of stock options, buybacks & exorbitant bonuses. Today, per capita, fewer Americans than ever are defined as healthy.

On the macro-economic level, global debt is now $244 trillion. Global GDP in 2016 (latest figure) was $75.4 trillion. Global debt is now over 3 times global GDP, which signals a bankrupt global economy. There is no way this level of global indebtedness can ever be paid off.

Interest rates have been kept ultra-low for ten years now, so there only one direction they can move significantly. When rates rise, the interest payments of this massive mountain of debt will be unpayable. That is why the Fed, US government & big banks had to intervene in late December 2018, with its plunge-protection team which reportedly pumped over $500 billion into the markets to prevent a collapse that had started when the Fed began raising interest rates. The US dollar overnight bank lending rate is now at 2.25-2.5%, and can’t go any higher without precipitating another crisis.

The derivatives market are the best example of this giant Ponzi scheme. Derivatives are bets on future earnings of a tradeable asset. They are used in every industry, with some going 20 years into the future, or more. Most of this estimated $1.2 quadrillion market has made bets that are going to fail, yet are still being counted as assets. This is so traders (and everyone else involved including: bankers, investors & insurers) get their bonuses.

When this derivative market crashes, the world economy will instantly collapse. Such massive amounts of toxic assets can’t be covered by any of the central banks (US, EU, etc.) because they are already leveraged to the hilt. Credit will dry up, and there will be no liquidity. What’s about to happen came to be through 10 years of quantitative easing (QE), which is money printing for the rich, who then speculate in derivatives and stock buybacks to further enrich themselves at the expense of everybody else.

That’s capitalism in it’s death throes, and its contradictions are everywhere. We now have a global economy which is capable of being more productive than ever, but barely moves because: 1) there is no (very little) innovation, and 2) fewer consumers than ever can afford to buy– because of their indebtedness. Only the super-rich & big banks get bailouts and free money to waste

The most recent orgy of speculation has been in cryptocurrency, as Bitcoin trading recently went from ~$3,600 to now over $5,000– for no explainable reason. Bitcoin/crypto is likely the final frontier of bubbles before the next economic crash. Wealthy investors are looking for alternatives to fiat money, which has become devalued through inflation by money printing under QE capitalism.

Bitcoin (and any cryptocurrency) have no legitimate use value, and are massive energy wasters. They are all Ponzi schemes, marketed as the future of global currency, by Libertarian cyber-capitalists who are rabid anti-socialists.

To summarize, QE was the US Federal Reserve buying up toxic (worthless) derivatives, which have now ballooned into a $1.2 quadrillion market– meaning they’re entirely fake, and big enough to crash the global economy.

Instead of a debt jubilee for the indebted masses, which would have stimulated a real economy back in 2008-09, it’s been more easy money for the rich to speculate in fake assets. Our options now are: 1) more of the same, until world war breaks out; or 2) revolutionary socialism.

Today’s world is still shaped by the key social, political & economic world events that occurred around 1990, which were: 1) the Tienanmen Square massacre of June 1989, 2) the fall of the Berlin Wall on November 9, 1989, and most importantly 3) the dissolution of the Soviet Union on December 26, 1991.

These events shook & shocked the world, as new markets were being opened for capitalist exploitation. This is when (& why) Wall Street speculation & US militarism started going really crazy, as they saw an open playing field. In Iraq & Serbia, for instance. The only way we can get out of this mess, is to understand how we got into it.

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