August 28, 2017

The real dividing line in Dublin isn’t the River Liffey, but Conor McGregor

Posted in Irish Independent · 80 comments ·
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What happens in America tends to be repeated in other countries a few years later. The big socio-economic trends play out first in the United States, then drift across the Ocean and repeat themselves in a local form here. That’s the received wisdom.

 

If this is the case, might the future of Irish politics look less like Leo Varadkar and more like Conor Mc Gregor?

 

As The Notorious wrapped himself in the tricolor in Vegas the other night, this is a question worth considering.

 

Ten years ago America elected Obama. He was everything the liberal establishment wanted. Black but not too black, left wing but not too left wing, fresh but not too radical and above all, he was respected abroad by all the serious media outlets. The vision of America that Obama projected to the world was straight from the playlist of educated America. He was the ointment for a wounded and divided society.

 

Sophisticated Americans held up a mirror to themselves and they saw Obama. They loved what stared back at them. In the great American culture wars, they had won – or at least that’s how it seemed initially.

 

But just when they thought it was over, the electorate went and voted for Trump.

 

We know what happened in America. The white working class had only lent their votes to Obama. These votes were rented — not earned — based on a brilliant marketing campaign rather than a tested product. The white working class gave a conditional endorsement to cosmopolitanism.

 

Unfortunately, the American coastal elite mistook the transitory Obama electoral phenomenon as a permanent shift in American politics. From the vantage point of Wall Street, Hollywood and Silicon Valley, the elites believed that this movement would be impervious to the underlying economic trends and so they engineered a recovery based on asset prices rising. This they assumed would make everyone feel better and then over time, the recovery would trickle down to the grateful masses below.

 

However rising asset prices only made those people with assets feel better off. And who do you think owns assets, rich people or poor people? Rich people of course, that’s why they are rich, because they own assets.

 

Inequality amplified.

 

The marginalized white working class might not have had any assets, but they did have a vote. And they used it. When it came to the time, they voted for Trump.

It is crucial to note that they didn’t vote for the guy who said he was going to give them handouts — as liberals expected and encouraged. They voted for the guy who said precisely the opposite. He was the guy who was going to cut taxes for the rich.

 

One thing liberals don’t understand about the American working class is that while the working class hate professionals, they love the rich.

 

They spend their working lives taking orders and want to be the guy who gives orders; Trump gives orders. They want to be like him, rich enough to give everyone the two fingers. That’s the American Dream.

 

Now let’s look at Ireland ten years after Obama’s first Presidential campaign. Is there an Irish Dream? And, if so, who embodies it for whom?

 

In Ireland we also have our elite.

 

Whereas in the US they talk about the liberal coastal elite, here we have a professional/managerial elite.

 

These people work in both the public and private sector. They can be on the liberal Left or establishment Right. They are the people who go into hysterics over the annual CAO “points race” whipping themselves into a frenzy of familial achievement.

 

Such a reaction is not surprising because the annual points’ race is the entry point to the professional/managerial class. The stranglehold of the professional/managerial class on the Irish education system is asphyxiating and the grind system reinforces their position, giving their offspring maximum advantage, making their caste almost hereditary.

 

They are the aristocracy of Ireland’s Respectocracy, living a form of the Irish Dream — the Dream that is set out by the system. Being respectable is neurotically adhered to; it’s part of the deal.

 

Affection for the points race is mirrored by their almost visceral dislike of Conor Mc Gregor.

 

Has there ever been an elite Irish sportsman, in this sports-mad country, who so splits public opinion? The real dividing line in Dublin is not the River Liffey, but Conor McGregor.

 

Where you stand on Conor McGregor reveals a lot about the type of person you are, what class you belong to, what generation you were born into and how you see the future of the country.

 

Conor is a threat to the Respectocracy because he is a working class lad, taking his chances, genuflecting to no one. As a product of the Facebook generation, he understands the urgency of now. His west Dublin, trash-talking swagger embarrasses the Respectocracy — particularly when he’s abroad. To borrow from Hillary Clinton’s phrasebook, for them, he is the King of the Deplorables.

 

But he represents a forgotten class. His tribe also gets up early in the morning. They are working people — which the patronizing Respectocracy regularly confuse with poor people. They don’t feature often on radio or TV. They’re rarely editorial writers. They go to Spain on their holidays.

 

They compete with immigrants in the job, housing and health markets. Their kids are in class with immigrant kids. Their wages in manufacturing are stagnating due to competition from abroad. And Conor’s people get on with it.

 

They work for themselves. They too are ambitious and want their kids to do well. They want their children to have stuff they didn’t have. They just go about it in a different way. Maybe because they see a system rigged against them, they choose to go around it.

 

Like McGregor, they are not waiting for someone to give them permission to dream, work hard and get results. Theirs too is an Irish Dream.

 

In McGregor they see a hero, a man who has achieved extraordinary things, who doesn’t hide his ambition and understands that he is in it for the cash. They also understand his fragility.

 

Remember they too despise the professionals — because frankly, the professionals despise them. In contrast, they respect the rich — particularly the self-made man. That is what Conor is. The system wasn’t on his side and now he is on top through courage, hard work and more hard work.

 

But his isn’t the sort of achievement Respectable Ireland recognizes because of the accent, the bragging and the crudity. But what do you expect from a man who beats the shite out of people for a living?

 

McGregor is the nightmare knock on the door that every “respectable” establishment mother fears for her daughter.

 

As for Leo, he would be their perfect son in law.

 

When they see our fit, tanned, photogenic, educated, well spoken, intellectual, half-Indian, gay Taoiseach, who also happens to be a doctor, walking arm in arm with Justin Trudeau, speaking French at Montreal’s gay pride last week, they think that’s what their Ireland looks like.

 

Leo is gay but not too gay, he is Indian but not too Indian, he is socially Left, but economically Right — so he will follow their social agenda without threatening their wallets.

 

If he didn’t exist they’d have to invent him.

 

But both men represent an Irish Dream. Both men are Outsiders; both are emblematic of our country and its various tribes. As befits the blurring in modern Ireland, Leo is the Northsider who is refined and polished; Conor is the Southsider, who is rough and feral.

 

But both tribes vote.

 

The real challenge for Leo is to lead his tribe into a political union with Conor’s tribe. This is what Bill Clinton did in the US from the Left and what Margaret Thatcher did in the UK from the Right. Could Leo Varadkar appeal to everyone who gets up early in the morning? Could he do it from the centre? If he does this, he will be a real leader.

 

By the way, the odds on Leo prevailing are probably shorter than Conor’s were on Saturday night. But that would be cool too, wouldn’t it?


  1. terryhewett

    Very perceptive David.

    • Margaret

      Talk about hitting the nail on the head!

    • Both Conor McGregor & Leo Varadakar make me equally sick.
      One is promoting physical violence & physical aggression.
      The other is promoting economic violence and economic aggression against ordinary workers and the most vulnerable in society while lining the pockets of the vultures.
      In my view both are only contributing negatively to society.
      Maybe the elite vultures need symbols of aggression among the working class to divide them and divert their anger away from their slave masters, in which case McGregor is probably unknowingly operating as one of their agents.

      • michaelcoughlan

        “Maybe the elite vultures need symbols of aggression among the working class to divide them and divert their anger away from their slave masters, in which case McGregor is probably unknowingly operating as one of their agents”

        Spot on. The 100 dollar pay per view was probably taken mostly from people who identify with conor from a similar socio economic background and could have spent the money far more wisely.

      • Deco

        Scania,

        They are both show business performers.

        Essentially pretenders.

        Made by the shallowness of TV.

    • SMOKEY

      The reason Obama was exposed was NOT all about economics David, how about the fact that he stirred up the racial divide on purpose. He did everything he could to start the current Civil War developing in the USA. He had Al Sharpton promote hate, his attourney general promote hate, all against “whitey” by the way. Obama is a divider not a healer or anything other than a racist with his hateful bitch racist wife. He was OK with the filth in BLM, ANTIFA, destroying cities and burning neighborhoods down. Dont forget how he and the Democrat hate machine stirred up hate and division against “whitey”. Dont rewrite history and make it all about economics. People were sick to death of trans this and trans that and your 12 year old daughter having to shower with a transvestite, balls swinging, in her school locker room because of his so called “feelings”. People of the USA were scared seeing him hollow out the military and turning it into a club for gay men and women. Obama hates America and what it stood for. Now its Trumps challenge to stop the hatred, and stop erasing of history as it really was, not as the cowardly scarved faced chain carrying so called defenders of “Free Speech” would like it to be. Ultimately, Antifa will lose, BLM will become what they are, a nasty BM after drink, and Trump will slowly but surley heal a nation that is on the brink. Leo as your son in law? With that voice? Shudder shudder, Id sooner have Alvin from the chipmunks stirring my curry than Leo stirring his porridge in my daughter.

      • Irish PI

        Hush now Smokey..The Irish don’t like Republican presidents or having pointed out that their Democrat heroes have feet of clay. If Hillary had become president and came over here and murdered the Irish first born with a big sword and bathed in their blood and Bill groped and penetrated their daughters.The Irish and especially the elites would excuse it away.

  2. Mike Lucey

    Snobbery in Ireland is well and thriving.

  3. michaelcoughlan

    Hi.

  4. michaelcoughlan

    First,

    I have to say thanks for your tolerance. I feel bad that you felt the need to delete your last article thread. I feel bad that you felt insulted by some of the posts I made. I am endeavouring to rectify this. I am not perfect.

    This article is flawless so on the pulse.

    Economic forces have their roots in realpolitick and this is a brilliant expose of Ireland right now.

    As for leo and conor; I cringed at the thought that the man you described (Leo) is our pm. I don’t want conor either. His skills are for reality TV only.

    Whitaker transformed Irish society David in the 1950′s because he had two things; a complete grasp of the real politick, and a clear vision of the economic policy needed to make the difference combined with the courage to tell devalara his polices were a failure.

    Articles of this quality demonstrate your own personality may be far more important than either conor or leo because next time out we are looking at a Fianna failure minority govt. Or a ff sf coalition.

    Michael.

  5. Trudeau joined by Irish PM at Montreal Pride parade
    Trudeau danced and waved a rainbow flag as he walked with Leo Varadkar, the first foreign head of government to join the prime minister in a Canadian Pride celebration.

    https://www.thestar.com/news/canada/2017/08/20/trudeau-joined-by-irish-pm-at-montreal-pride-parade.html

    The only surprise is that they did not walk hand in hand, arm in arm.

    As for McGregor. 100 million is a great payday for some one “in it just for the money”

    You’re a fightin’ man Billy McGhee.”

    Oh me fame went abroad through the nations,
    And folks came a flockin’ to see.
    And they cried out without hesitation,
    “You’re a fightin’ man Billy McGhee.”
    I cleaned out the Finegan’s faction,
    And I licked all the Murphy’s afloat.
    If you’re in for a row or a ruction,
    Just tread on the tail of me
    Mush, Mush, Mush tural-i-addy
    Singin’ Mush, Mush, Mush tural-i-ay.
    If you’re in for a row or a ruction,
    Just tread on the tail of me coat.

    http://www.reelclassics.com/Movies/QuietMan/mushmush-lyrics.htm

  6. Deco

    Leo, is polished, urbane, and sophisticated. And he studied Med in TCD.

    But….Leo is useless. And let’s be honest, unless you were already part of the top 1%, or on the urban welfare plantation, or illegally in the US – so was Obama.

    Leo never fixed anything. His decision to locate the Childrens Hospital in the most inaccessible location in the entire Island, outside of the Atlantic coast, was astounding. The reasoning was clear – Leo wanted it to NOT be in his constituency, so that he would NOT be a parish pump politician.

    Leo is bailed out by the IDA, and Ireland’s tax rate. And he does not know it.

    And yes, McGregor is the essense of the Western Suburbs, which are sometimes lawless, loud, rubbish strewn, ambitious, crass, bad mannered, and even arrogant. But McGregor works.

    In fact, while we might have no interest in what he does, McGregor is good at it. We all have in an interest in what Leo is doing – but frankly Leo is not up to it.

    Nothing unusual there. We live in an era where corporatocracy is the dominant ideology. And shallow entities like Leo, his predecessor and Mcountless other well presented meciocrities predominate. In fact they are given supportive media treatment.

    The Irish establishment have somebody that they perceive as perfect for the role – based on superficial appearances. He is perfect for the cover page of magazines that appear in airports, and that nobody picks up any more.

    Obama was also superficial. It was all about the show. The act.

    Trump got in, not because Trump was capable – but because Obama smile approvingly, whilst the corrupt Democratic Party elders informally advised everybody to stand aside to allow in another (corrupt) Clinton.

    McGregor is also a showman. In fact so is Trump.

    To be honest, the real problem is media power. Because media power filters down the number of acceptable public personalities for wide media acceptance to a handful. And then endorses those.

    And the result is showmen in positions of political responsibility, for which they are mot adequate – and whose tasks they outsource to lobbyists anyway.

  7. Deco

    McGregor ia a show man like Paul Hewson – except as far as I know, McGregor is tax resident here. He plays the Irish thing, plays the media hype thing, and provides entertainment to some people (but talks arrogantly as if it is of universal relevance).

  8. Deco

    Regarding the election of Obama – his opponents were

    John Edwards [ who was exposed as a lying hypcrite ]
    Hillary Rodham Clinton [ Rotten, corrupt, and deceitful ]
    John McCain [ Bomb-Bomb-Bomb-Bomb=Bomb-Iran ]
    Mitt Romney [ The King of Bain].

    Obama did well out of that.

    I suspect that the Media made Obama inevitable, by preventing serious opposition, based on key substantial policy difference.

    Obama did not need the DNC to fix matters, to prevent a Sanders personality from undermining his voter appear.

  9. Deco

    Concerning the points system, and the CAO – it is about the most meritocratic measurement system in Ireland.

    Seriously.

    And yes, it can be circumvented, via the various specility locations that advise kids on how to maximise their points.

    In addition, there is a problem that some courses simply do NOT have enough places for the demand – at any measurement of points.

    Uni, Med, being the prime example. We simply are not generating enough graduates. And a lot of those that are in it, are at it for the wrong reasons. They get disinterested, and in some cases ended up like the Taoiseach – doing something else, after a very expensive education at the taxpayers expense.

    We have enough bin-men. But it seems that under no circumstances are we supposed to have enough medical graduates.

    Is it any wonder the HSE is in a continual state of chaos, and crisis ?

  10. Deco

    The challenge is not to merge Leo’s sector with Conor’s.

    The challenge is to make Leo’s sector a lot less protected, and a lot more likely to gain the respect that they are repeatedly demainding from Conor’s sector.

    The problem is that those who are in control, do not cede control, and they do not accept the consequences of their own misadventure. Whether it is Annabels kids avoiding imprisonment, or banks being bailed out – consequences are for Conor’s sector – but not for the insiders in Ireland.

    They can be useless, and get away with it. In fact, they ensure that they do. That is the same divide that poleaxed Britain from the time of the Jarrow march to the end of Blair.

  11. Deco

    SF hold an enormous footprint in the McGregor sector.

    One only has to listen to the aggression in the SF rhetoric, from it’s West Dublin based candidates. And it’s conversion to the cause of “equality”. For some strange reason “equality” according to SF does not extend to financial matters, and large sums of money in aligned criminal organizations behind the political wing of a complex set of entities.

    At this stage the SF footprint is considerable, and is immovable. The manner in which b FF, and the ILP verbally attacked the establishment, to only later grant them all their wishes, has provided an enormous credibility boost to SF.

    And therein lies the obstacle preventing FG from either gaining an overall majority by itself, or with aligned interests like independents that it can buy off.

    The size of the SF footprint. The only thing that has successfully took on the SF footprint, is the hard left. And that hard left is even more absurd than SF. But…..that hard left is not half as hypocritical as SF.

    So yes, Ruth Coppinger, Paul Murphy, RBB, and the other crusties are bonkers. They are a collection of mad unrepentent Trots. For them the fall of the Berlin Wall, was a speed bump, not a defining moment of history that presented damning evidence.

    Likewise they are in denial about the current shambles in Venezuela.

    However…….the hard left have shown how to beat SF. And that is expose SF’s enormous credibility gap.

    SF’s number one catchphrase is equality.

    But where is the equality in being the political wing of a fuel laundering, extortion, robbery inclined set of entities that hide in the shadows.

    That is the jugular that could deliver the result for Leo Varadkar.

    The problem is that he has a collection of incompetent buffoons on his side.

    The media will refuse to break the story about the business that is at the back of SF. In fact the Irish media are NOT breaking any stories any more.

    The gardai are singularly inept at bringing forward prosecutions.

    Well, as far as I can see it that is route 1. Expose a political organization that sits on a massive footrpint at that preaches something that is the opposite that it follows.

    If that was exposed it would be the greatest change since the Child-Sex abuse scandals broke in the 1990s. It would have a similar effect. it would be very beneficial.

    And that entire voting block would be lose it’s obedience and would go to whomever could provide a coherent argument.

    Potential gamechanger.

    • Deco

      By the way, I think that the respectocracy will eventually face an existential threat from SF.

      SF, regard the respectocracy as the enemy in it’s objective of gaining complete control of Irish society. And that means that the long term objective of SF is toe eliminate the respectocracy.

      Now, I have massive reservations about the respectorcracy.

      But SF, and a 32 county republican socialist hellhole, with streets named after Hugo Chavez and Fidel Castro is a complete disaster.

      And that is SF’s long term aim. There might have to be a liquidation of the respectocracy. And there will definitely have to be an elimination of Northern Presbyteriasns. for this plan to proceed.

      The respectocracy face an existential threat the likes of which has not existed since the civil war in 1922, when landless peasants in Munster and Connacht decided that the time had come for something more far reaching than the anglo Irish Treaty of 1921. This is different, because this contains considerable stealth.

      Does the respectocracy have sufficient ability and competence to achieve the task ?

      Currently, it doesn’t. And SF must make sure that it never has – by continually weakening the gardai, and the criminal justice system.

      • michaelcoughlan

        That is brilliant stuff. I don’t think FG are capable if making the changes you see are necessary.

        “But SF, and a 32 county republican socialist hellhole, with streets named after Hugo Chavez and Fidel Castro is a complete disaster”

        That thought made my stomach turn. Che’s murial is already on the wall of a house in Kilkee.

        “The respectocracy face an existential threat the likes of which has not existed since the civil war in 1922″

        So true and all of their own making.

  12. Haven’t had time to read the article yet but one thing I notice about McGregor is that he’s quite normal, approachable, respectful and modest once the fight is done – doesn’t seem like a bad lad at all.

    Obviously he has to talk a lot of shit in the build up to the fight so that they can create as much interest and revenue in the fight as possible, all part of the show and it’s his job after all.

    • michaelcoughlan

      “one thing I notice about McGregor is that he’s quite normal, approachable, respectful and modest once the fight is done – doesn’t seem like a bad lad at all.”

      Yeah,

      The thought occurred to me about the personality types described and the parallels in the Irish army.

      With sf getting stronger all we would have let is the Irish Army. Look what has happened there;

      http://www.irishexaminer.com/ireland/damning-report-on-defence-forces-staff-exodus-blamed-on-poor-pay-conditions-and-resources-454469.html

      If it ever came to frinting up with lead in the aor this is wjhat would happen;

      The urbane officers al llike leo would resign and become “consultants”.

      Howareya’s like McGregor would be enlisted told to fix their bayonets and stop the bullets. When the shoot out was over all the “consultant’s” would claim it was their “strategies” and “paradigms” which were responsible for winning when in fact brave hardworking courageous young fellas like Conor would be the guys doing the business and for that he would earn the enduring contempt of repectocracy.

      It’s frightening really how low the standards have gone when you look at the army, RTE, homelessness, employment conditions etc.

      • michaelcoughlan

        Belated spell check;

        If it ever came to fronting up with lead in the air this is what would happen;

        The urbane officers all like leo would resign and become “consultants”.

    • Deco

      Adam, that is show business. It seems to be standard practice.

      Ever notice the hype about sports events, that is programmed over a period of months before the actual event.

      A relentless drumming of messaging, and trivia minutae raised to prominence by peddlers of sports TV ?

      And music events are programmed and sold in the same manner.

  13. Bamboo

    It is interesting to compare the two and relate it back to politics in Ireland.

    After an absence of 5 years from Ireland I can see that the divide between the”me have” and the ” me no have” is clearly on the way to a juicy escalation. The gap between the people who are just in the nick of time to get on the property ladder and those who are just a few months to a year too late. There is also an older generation whose children have left the nest and are so called “scaling down” to a smaller property but is in a nice position to sell their assets to scoop up well sought after properties with”potential”. These are the well established older generation from the area or community with insiders connections to planning laws, architects and bankers.

    This group will be able to afford the flashy cars, the high heels and the pastel colored shirt and pretend they are part of aristocrats and a a fee paying member of the golf club or sailing club.

    Even the lucky younger people with parents who own valuable assets purchased in an era that is still possible to gain some wealth in their own community. Anybody coming in from outside Ireland will simply have no chance to have the slightest hint of a comparable lifestyle.

    Then All you can do is make promises that better times are coming for the poor sods. So use politics and elections as useful tools to calm down the folks.

  14. supply and demand is the story of the fight. ticket prices were high because of the demand. There were no government quotas to distort the market. no regulation on “gouging”. No prevention on scalping. Just as there should be no derogation of saving (hoarding) or buying what is not needed (thrift).

    The prudent have savings and resources the imprudent have nothing yet expect to be bailed out. BUT Texans for instance went about helping each other, no questions asked. Volunteerism works . It benefits both the receiver and the donor. Most of the first responders will be volunteers.

    http://www.thedailybell.com/news-analysis/be-thankful-for-price-gouging-in-houston/

  15. Banks:

    ECB’s supervisory arm fines Irish bank Permanent TSB €2.5M: The FT reported on Monday that the ECB’s supervisory arm has imposed its first fine on a Eurozone lender, giving a €2.5M penalty on Permanent TSB, an Irish bank, for breaching liquidity rules. While small, the FT said the fine is significant because it is the first time the ECB’s Single Supervisory Mechanism (SSM) has bared its teeth and fined a lender since it began operating in late 2014 as the watchdog of the single currency area’s largest and most important banks.

    posted at http://www.lemetropolecafe.com

    • Deco

      That is an exercise in superficiality. Pompous posturing.

      A far more significant number is the cost of the full bailout of the banks including well connected UNSECURED bank bondholders.

      And the ECB demanded that also.

  16. Deco

    The Irish establishment have convinced themselves that they can live with SF, and have them inside the tent.

    The problem is that they do not understand the SF modus operandi, game plan, or resource base.

    At some point the establishment in Ireland will be fighting for their very existence against Provisional Teo.

    Look at the list of defeated entities, to date. The SDLP, the UUP, Alliance, FF, the ILP, to a certain degree the RCC, The Irish times, Pravda-RTE, UTV, Newstalk, the gardai, the RUC, and countless localities, etc….

    All have taken on the “Provisional Republican” eco-system and have been beaten.

  17. Deco

    [
    The real challenge for Leo is to lead his tribe into a political union with Conor’s tribe. This is what Bill Clinton did in the US from the Left and what Margaret Thatcher did in the UK from the Right. Could Leo Varadkar appeal to everyone who gets up early in the morning? Could he do it from the centre? If he does this, he will be a real leader.
    ]

    Hw won’t.

    SF will take him out. And they will knock out Coveney. And the current MoF. And the Tanaiste. And indeed the entire FG front bench.

    Like occurred over the Irish Water protests.

  18. The Holter Report

    The bluff will finally be called…

    This was written for JSMineset subscribers and published Tuesday. David Schectman is undergoing a medical procedure and asked if I could publish a couple of articles in his absence. I gladly obliged as we still have close ties between Miles Franklin and JSMineset. If you enjoy this, please consider subscribing here https://www.jsmineset.com/membership-account/membership-levels/ .

    A little over four years ago, gold and silver were blasted with sales from “the Jolly Green Giant” that caused major price declines. If you recall, this happened immediately after a closed meeting between Obama, the Treasury secretary and the heads of many banks and brokers. We wrote about it at the time and discussed the outsized (and naked) sales on COMEX, concentrated in very short timeframes that actually came in waves. Since then, we have seen a half dozen of these events each year and always coordinated with key “technical” levels. In other words, the sales were a very large paintbrush used to paint the charts to display the “official” all is well picture. The outsized sales always worked to depress price until Friday.

    Friday saw our Green Giant again enter the COMEX floor to dump 2 million gold ounces and 50 million silver ounces. This amounted to about 2.5% of annual global gold production and about 6% of annual global silver production …in ONLY TWO MINUTES! In perspective, the COMEX holds 735,000 gold ounces and 38 million silver ounces in their dealer (deliverable) inventories. Let’s call this $1 billion and $650 million worth which is completely laughable in a world where $5-10 billion takeovers are done every single day.

    As we pointed out last week, the dollar was used (“forced”) on the world for the last 40++ years. It was “forced” by our military plain and simple. If you don’t believe this, ask the ghosts of Saddam, Khadaffi and other deposed/dead leaders who tried to break away from using the dollar? But recently it looks as if our military may have been technologically neutered based on the recent naval “mishaps”.

    My point is this, we may not have had a COMEX run in the past for two reasons, 1. for fear of military retribution. 2. because why upset the apple cart as long as gold is still being delivered? But the equation is changed if the dog has had its teeth pulled and is running low on deliverable metal. We have no way to know for sure if the bottom of the barrel is in view but we do know for sure it has been over 20 years where physical demand has far outstripped global production plus scrap supply. We are much closer to Western gold running out today than any time prior based on supply/demand basics.

    Our naval ships being rammed and buzzed are a giant middle finger which has followed unprecedented dollar sales as evidenced by the FOREX dollar waterfall. The final middle finger will cost less than $2 billion to gobble up the woefully low metal available that has represented “strength” to this point. COMEX will be broken because it is a “broken” concept to start with. Argue this all you want but then explain how 500 contracts can be backed by only one single ounce?

    Please understand we are in a war where shots fired are financial. The U.S. is broke without argument and fighting a financial war where we could always use the final threat of military action. If the military has been defanged then the end game to our Ponzi has finally arrived because “forcing” new money into the scheme is no longer viable.

    We have asked readers to imagine a world where “credit” is unavailable. We asked this because it is exactly where we are headed. Without the benefits of free issuance of the global reserve currency, credit in reality will evaporate and no longer be forwarded to Uncle Sam. Quite simply, we will need to adjust our lifestyles down to what we actually produce. A 50% drop in goods available (as everything is now imported) will be a rosy scenario. ALL sides of the equation will break. People will lose savings and not have funds to purchase the fewer goods available (produced here and not imported) that actually get to market with a distribution system in gridlock! Get ready to do with less …or without.

    As for the metals, the world is clearly (being led by China) moving towards cash markets and away from paper markets. The implosion of COMEX will come swiftly and possibly with no warning at all. It could be they receive an “unfillable” order and know delivery will be demanded. The rules will change or they will simply end the contract …because it is a contract that cannot perform or be honored.

    We have lived a credit fueled fantasy lifestyle that lasted so long, “normal” or living within ones means is not even a distant memory. We are very soon to see the “bluff” of the U.S. called and will include the biggest bluff of all …gold! You will be told “it won’t happen …because it hasn’t happened”. This is very dangerous thinking and mostly dangerous to you if you believe it. The U.S. has run roughshod on the world for years and is now in a very weakened state. If you cannot see this then no one can help you. Think back to your school days when the “bully” was in a weak position? He was sucker punched and even piled on by the geeky guy with glasses in the band. He was not liked and people were happy to see him fall. Similar to the world’s view of the U.S. today?

    The stakes are very high for you to understand this writing. I say this because your understanding or non understanding will affect how you, AND your children/grandchildren live out their lives. You either understand and see through ALL the lies we are fed today, or you don’t. You absolutely must think for yourself and know that no one other than you …is going to protect you!

    The biggest laugh is those who say “the government will never let it happen” …I have news for you, they are the ones responsible for it!

    As an addendum, the dollar is continuing to break down while gold/silver are breaking out to the upside. This may be your warning, once control is lost, the unwind will be rapid!

    Standing watch,
    Bill Holter
    Holter-Sinclair collaboration

  19. michaelcoughlan

    @david mcwilliams

    I thought nothing left would shock me David about how dysfunctional the Irish state has become but this shocked the life out of me;

    http://www.irishmirror.ie/news/irish-news/devastated-farmer-who-watched-army-8370971

    The irish army was sent in to shoot 5 heifers in a farmer bankruptcy case. Couldnt send in a vet to humanely destroy the animals could they?

    Begs the question was the army deployed to terrorize the farmer?

    • Deco

      Could they not stay away ?

      This seems to me to be about the state letting a citizen know that the state is the boss.

      The same sort of stupidity that applies with regards to the tax for the maintenance of a Propaganda Quango in Donnybrook that people are ignoring.

      • michaelcoughlan

        “This seems to me to be about the state letting a citizen know that the state is the boss”

        Thats exactly what I thought. I only read this 2 days ago even though it was last year. I couldn’t believe it. cattle with tb are taken to factory anyway. High power bullets let loose on a farm are a far more dangerous threat to public safety. I still can’t believe it. I can’t believe it happened here in Ireland.

        Even the dumb fuck with the machine gun took 5 rounds to kill the intelligent mammal. In an abattoir a humane killer device shoots out a bolt which remains attached to the device no more than about 4 inches straight into the brain of the animal which drops instantly. Rambo and his mates because they didn’t hit the brain first time had to let loose. I still can’t believe it.

  20. Grzegorz Kolodziej

    The nincompoops from the Anti-Irish Times are wrecking their heads with this recent headline:

    “Is Ireland in danger of creating another housing bubble?”.

    As their censorship rules are as strict as in the Nazi Germany, I cannot answer them with a letter: so I decided to answer it this way: what can you rent for $1,500 a month in San Francisco, Edinburgh and Dublin?

    San Francisco (city centre):

    https://www.apartments.com/1255-harrison-st-san-francisco-ca/fstdgps/

    Edinburgh (city centre):

    http://www.rightmove.co.uk/property-to-rent/property-61414705.html

    Dublin (90 min wait and commute to the ?city centre on Europe’s worst and most expensive public transport, no places to get any decent food that are open after 6 pm (and frankly speaking none before 6 pm? either); very dark and unsafe to walk at night – so no one? does):

    http://www.independent.ie/irish-news/garden-pod-advertised-to-rent-for-1200-a-month-in-dublin-36068601.html

  21. Deco

    And this is about the crypto-currency sector.

    To me it is obvious that this is another racket. It is driven by low interest rates. And anything that reveals the utter bankruptcy of low interest rates gets censored, as that would lead to questions about the entire policy mandate of politicians looking after banks to the detriment of wider society.

    In any case, this is now getting obvious.

    https://www.sovereignman.com/investing/theres-literally-a-token-called-fck-thats-up-370-in-the-last-24-hours-22355/

    Yet another bubble.

    Low cost Monetary policy has produced more bubbles, than a monetary policy that has an interest rate that is designed to facilitate an intelligent combination of funding allocations.

    In fact Bad Monetary policy, is subsidizing bad investment decisions. It is also facilitating “fake” GDP growth, and a debt accumulation that is getting more dangerous by the day.

    • michaelcoughlan

      yeha bang on. And I don’t get why no mainstream economist is talking about. Not nobody.

      Beggars belief.

      Michael.

    • Grzegorz Kolodziej

      “And anything that reveals the utter bankruptcy of low-interest rates gets censored” – The Anti-Irish Times it does but The Irish Independent has been publishing my stuff on low-interest rates co-responsible for creating bubbles for quite a while (last such peace this week on Wednesday).

      Regarding cryptos: Bitcoin is up 400% this year but the Grayscale fund is up an eye-popping 726% so far this year, according to FactSet data – even though the Grayscale fund is riskier than Bitcoin!

      The Grayscale has not even finished the process for registering with Wall Street regulators to trade on the New York Stock Exchange, and they don’t even have insurance for the Bitcoin that they are custodians of!

      Bitcoin Investment Trust, which made its debut on the over-the-counter market in 2015, is a so-called open-ended trust and the first publicly traded bitcoin-related investment vehicle. Open-ended trusts can be bought just once a day at the market’s close, compared with exchange-traded funds that trade like stocks.

      Grayscale’s fund has benefited from being one of the few investment funds that offer an opportunity to buy Bitcoin without owning it directly from sites like Coinbase.com – but it is expected that other funds will enter the scene, which could put significant pressure on BIT’s price.

      Many analysts say that Bitcoin follows the so called Elliott Wave model:

      https://elliottwave-forecast.com/wp-content/uploads/2017/02/BTCUSD-W2-02.26.png

      Bitcoin bubble already dwarfs tulip mania from 400 years ago.

      As Investopedia tells it, “tulip bulbs became such a prized commodity that by 1636 they were being traded on many Dutch stock exchanges and many people traded or sold possessions to participate in the tulip market mania.”

      Also, bear in mind that just recently Ethereum prices briefly plunged from above $300 to 10 cents on one exchange before recovering!

      Bitcoins volatility also reminds me of the dot-com bubble, when one of the companies tripled the price of their shares overnight only because they… updated their website! And do you remember Boo.com who spent $188 million in just six months in an attempt to create a global online fashion store that went bankrupt in May 2000?

      How often do you use Broadcast.com? Me neither – yet this is a website that was acquired by Yahoo! for $5.9 billion in stock, making Mark Cuban and Todd Wagner multi-billionaires: the site is now DEFUNCT. And if that wasn’t stupid enough, CyberRebate promised customers a 100% rebate after purchasing products priced at as much as ten times the retail cost.

      And what about Ethereum? Has it’s rise not been impressive this year, with its market cap of €31.19bn?
      Ehm… no, not really – Global Crossing’s (a telecommunications company founded in 1997) market capitalization reached $47bn in February 2000 (almost twice the Ethereum’s market cap in today’s money) before going to ZERO in January 2002. And Geeknet went up by 698% not in one year, but in one day – and then it’s price fell from $239.25/share to $8 – which is still not as bad as Tiscali – Italian telecommunications company whose share price rose from €46 upon its IPO in November 1999 to €1,197 in four months, and then fell to €40 in less than two months and eventually fell to €0.20.

      http://fixwillpower.com/wp-content/uploads/2013/04/bitcoin-dotcom-bubble-model.png

      So… nihil novi sub sole:

      https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i7a_Giq3LUWQ/v0/600x-1.png

      • michaelcoughlan

        All paid for by money borrowed into existence for use in gambling the coupons on the other side of the transaction (govt debt) being paid by taxpayers.

        Wearisome and inevitable.

        It would wear you out.

      • michaelcoughlan

        “Also, bear in mind that just recently Ethereum prices briefly plunged from above $300 to 10 cents on one exchange before recovering!”

        The massive money is always made on the short. This would indicate to me that someone owns more than half the etherum available.

        If I though like a banking psycho what I would do is create a new crypto currencies hold 60% and plug it on the internet. Then over and over again mow down the novice “investors”.

        I suppose if someone is so thick they can make quick buck gambling digital bips or whatever they are then they deserve to be mowed down.

        Michael.

        • Grzegorz Kolodziej

          “All paid for by money borrowed into existence for use in gambling the coupons” + “The massive money is always made on the short. This would indicate to me that someone owns more than half the etherum available.” – like I once said, at the end of the day, the underlying value of the distributed ledger technology is finding a Greater Fool ;-). Have you heard of Dogecoin?
          Dogecoin was created as a joke based on the popular “Doge” internet meme.

          But

          Somehow, Dogecoin now has a market cap of more than $232 million.

          “If I though like a banking psycho what I would do is create a new crypto currencies hold 60% and plug it on the internet. Then over and over again mow down the novice “investors”.” –
          :-) and if you thought like an even bigger banking psycho you would create something I cannot watch any YouTube video without it being advertised to me against my will (so much so that I have to download every video to avoid the “the value of the cryptocurrency market is now over 100bn euro” shite) despite me clicking 100 times “I dislike this add” – that is loans made in crypto currencies repaid in the future in euros, dollars, or as a reverse mortgage (now, think of that: we’ll give you a virtual ledger on the computer cloud controlled by the likes of Zuckenberg and Bill Gates – that they can switch off at any time – and all we are asking in return is your house). Because nothing inspires confidence in an investment quite like having the word “insane” right in the name of your currency :-) – yet Insanecoin currently has a market cap of more than $2.4 million.

          And did you think that the rarest metal on Earth was francium (made when actinium decays)? – yes, there are less than 30 grams (1 ounce) on the whole planet at any given time; yes, the last naturally occurring element to be discovered because; yes, francium’s life is 22 minutes, and then it decays to another element, such as astatine or radium.

          Yet I’ve found something even rarer for you, and infinitely more stupid: Unobtanium’s claim to fame is that it was designed to be the rarest cryptocurrency in the world, inspired by the fictional mineral that was the basis of the movie “Avatar.”
          So you have a choice: you can spend 50 euro on a meal or you can spend in on Unobtanium.

          In keeping with my theory of the Greater Fool, Unobtainium’s current market cap stands at $15 million.

          I think that you would really enjoy this documentary on dotcom bubble, Michael (it tells you a lot about the psychology behind the Greater Fool). What strikes me the most is that bit when they are at the height of the bubble and spend their profits on air-chairs for $800 and actors playing excited people to attract more Greater Fools, while employing hundreds of office-workers who don’t do much, and while the real money is made by internet “consultants” who were able to create or even update their companies websites.

          Well, at least the tulip bubble people were left with beautiful flowers!

          • Grzegorz Kolodziej

            The 2001 documentary called “What Happened” available on YouTube.

            I have actually met one of such dot-com bubble crash “what happened” orphans – 20wpm typing speed, almost no knowledge of Microsoft Office or anything else, atrocious attention spam – yet in the 1990s she held a senior position in one of such companies.

  22. Deco

    My advice to those in virtual currencies is to minimize your vulnerability and get out. There is no value proposition.

    It is a bigger joke than the Euro – a currency who essence is “who exactly owes you nothing”.

  23. You are all hopelessly out of touch lads. If you are going to comment on something at least do the most perfunctory of research on the facts. Luddite central here.

    • Grzegorz Kolodziej

      We are hopelessly out of touch? You see, the problem with making such comments about us is that I have a nearly photographic memory – didn’t you tell us that:

      “Adam Byrne
      January 30, 2014 at 1:09 pm
      Good time to buy Bitcoin in that case.
      Should push the price higher.”

      - when Bitcoin was $840 – and then it started declining immediately after your advice that “it’s now or never”, until it plummeted down to $212 :-) LOL???????????????????????????!

      This was, like, the worst advice ever given on this blog (the second worst was your advice not to bet on Trump because he has zero chance of winning), and it indicates that you know nothing about the bubbles!

      The venerable Tony Brogan responded to that comment of yours by quoting the following: “The atmosphere reminded me of the excitement about the internet around 1996… and we all know how lucrative that was for many who invested in internet related companies at that time.

      I warned during my presentation, however, that if you are a US citizen who lives in the US and operates a financially related bitcoin business (such as an exchange or payment service), you are crazy to do so”.

      He was right (or rather the source he quoted), I was right, you were as wrong as 2 + 2 = 5 is wrong – and it’s time to finally admit that because you never did (I have the bottle to admit when I am wrong, i.e. on the Brexit referendum).

      • michaelcoughlan

        “- when Bitcoin was $840 – and then it started declining immediately after your advice that “it’s now or never”, until it plummeted down to $212 :-) LOL???????????????????????????!”

        Hi Grezgorz and adam,

        Lads that part of grezgorz’s post is very important because it illustrates the misconception about “markets”. Whether the advice was bad or good depends on your timeframe and where you entered your position. Bitcoin is now over 4800 usd per bitcoin.

        I know nothing of the technology. Two things I can say with some certainty;

        Human nature doesn’t change re markets,

        For bitcoin to have real intrinsic value it must be as Adam says;

        PUT TO WORK!

        It isn’t clear whether the bitcoins are increasing in value because of legitimate demand or because of speculation. All things considered i’d say its the latter because it wouldn’t be rising so fast if the money going into it was coming out of a system adding real value somewhere along the line in other words somebody is gambling a shit load of moola into the stuff.

        Michael.

        • michaelcoughlan

          jan 17 etherum 10 usd now nearly 400 usd. Thats south sea bubble on steroids.

        • Grzegorz Kolodziej

          The timeframe was that Adam said it precisely at the height of the previous bubble, whereupon Bitcoin started a long process of decline (with a sharp drop after his piece of advice) that, a year from his prediction, ended up in Bitcoin losing 75% of its value.
          It is true that Bitcoin is now over 4800 (someone who would put his money in dot-coms would have gained a lot, a lot more than $840-$4800 in 3.5 years – so what?) – however, imagine a mother who listened to his advice, and rather than put all her money for, say, college fund for her daughter the following year, into the bank, bought 10,000 euro worth of Bitcoin in January 2014.
          Well, the end result, Michael, would be that her daughter would have had no money for college – as the 10,000 would be worth 2,500 just when she would need it – and furthermore, it would not be until 2017 when she would even break even!

          You say that: “For bitcoin to have real intrinsic value it must be as Adam says;
          PUT TO WORK!” – but how do you put Bitcoin to work? You know yourself that the number of ACTUAL trade IN Bitcoin is really minuscule – not to confuse it with ALL Bitcoin transactions done for speculations (although even that is minuscule compared to VISA or even gold transactions).

          Adam himself is an example of someone who clearly does not know how to put Bitcoin to work if he gives us an advice that has been so monumentally wrong for the period of 3 years – namely, that this was the best time to buy Bitcoin when it was clearly THE WORST.

          Of course, that does not take from Adam his knowledge of cryptos – and I know that Adam is modest enough to be much more of an expert in the crypto technologies than he would admit (he has an academic background in it – in fact, I even wish that he would write a lot more on cryptos!).

          However, this is (mainly – well, in some parts) – economic and geopolitical blog, and for people interested in the economy, a knowledge of bubbles is much more important than the knowledge of programming: and Adam does not have that knowledge on how bubbles work (or even the economy in general) – because if you lack that knowledge, you end up with such ridiculous advice (you would have been better off buying nearly any currency in the world in Jan 2014 than Bitcoin – even more so if you, as you say, would put it to work).

          If you read Adam’s posts since he started, his advice on Bitcoin always was: “buy, buy, buy!”. Well, given what Bitcoin’s historical chart looks like, that doesn’t to me indicate any knowledge of the market (unlike my advice to buy New Zealand’s dollars before the sharply appreciated) – rather a pure luck on Adam’s side that he must have bought Bitcoins when they were very cheap because he happened to have studied it (now – I do remember Adam’s brilliant advice with Ethereum, and I reminded the readers of that fact twice – but equally brilliant was my advice to bet on Trump when he was 40/1 – it took Mr McWilliams another 10 months to join me in my prediction).

          That “putting money to work” bit is very important, and you know yourself that every time Mr McWilliams writes about deflation, I always remind him that he should have added the velocity of money aspect (I try to be polite and not to do “I told you so” too often – but how long can you hold :-)?

          Whether it is more important with Bitcoin than with euro or pound, I doubt it – the opposite seems to be the case (it’s more euro, dollars, and pounds who are, in global trade, “put to work” – Bitcoin is rather, if anything, “sat to speculate and inflate”).

          All in all, will Bitcoin go to $20,000? I think that it easily can (that would not be unprecedented, would it?).

          All I know is that:
          1) It is a bubble
          2) When bubbles really burst, you cannot sell

          P.S. This article Tony posted in reply to Adam’s advice in Jan 2014 is still worth reading (despite it’s one-sided focus on the US – if they US might do it, China will certainly do it!):

          https://dollarvigilante.com/blog/2014/1/28/charlie-shrem-kidnapped-which-bitcoin-entrepreneurs-are-next.html

          • Grzegorz Kolodziej

            “that doesn’t to me indicate any knowledge of the market” – because if there was, his advice would sometimes be “sell now, buy later”.
            Of course, he would say to that: it worked for him.
            But
            This was clearly an “investment” advice, clearly given at the worst time possible (peak of the previous bubble).

            And some people might have lost their life savings following it (maybe someone did?).

          • Woefully misinformed lads.

            There’s this thing where you can find out information about anything, including Bitcoin – it’s called ‘GOOGLE’ – check it out sometime gents.

            Even Wikipedia would be a good place to start rather than just typing stuff without thinking,

            I know nothing about Polish politics, or real estate for example, so if I was to come on here just making up stuff without checking the facts then I would be slated and rightfully so. You guys are smarter than just typing stuff that runs down the inside of your leg. You can do better.

          • Someone said on here recently that they are expecting David to do an article about Bitcoin and cryptocurrencies etc in the near future – so am I, I’m sure he’s building up to it.

            One thing I know is that he’ll do his research properly and the article will make sense – I might not agree with everything that he’s going to say but I know he’s not going to be talking out of his arse – unlike some.

            Anyway, my summer in Ireland in over, it’s been good, back home to Tobago tomorrow, bon voyage gents.

          • Grzegorz Kolodziej

            Maybe so, but repeating that we haven’t researched something properly without pointing out what facts did we got wrong or what information would falsify what we say about the bubbly nature of Bitcoin and how – repeating that does not make our claims wrong – this has to be followed up with some arguments and you haven’t given us any.

            I’ll be looking forward to David’s article on cryptos.
            That he hasn’t written any so far, I take that as an indicator that he too has some serious reservations about it (for he is not the one who doesn’t get excited about the things he is optimistic about, if he is).

          • It doesn’t matter if he peeaonally has reservations – if it becomes a big enough story in economic terms (which I think it will) then he’s going to have to address it sooner or later.

          • Grzegorz Kolodziej

            +1!

    • michaelcoughlan

      Hi Tony,

      A gentle observation man. When I saw these links the thought occurred to me that you need to shift your focus. Those links are from left field and way off topic. You are a smart energetic guy. Plenty still to achieve.

      Think along the lines of how can I use my knowledge and experience to help as many people as possible. Things will start to really move in a far more interesting direction than being drawn to stuff like this which no doubt does go on.

      warm regards,

      Michael.

      • It is precisely because it is in left (left being the designated side of the political spectrum that seems to encourage this, whereas the reactionaries to the policies are immediately given labels of the right side of the political spectrum) field that it deserves a mention as it is what is going on in the world of high finance and geo politics. It will have a great affect on the world.

        Most of the demonstators are stimulated by paid agitators. The payment is made by various factions who have an agenda that is not in the interests of the regular folks. Knowing what is going on is important to the ability to make what plans they can to protect themselves or indeed take steps to thwart the globalists plans.

        Local politics and plans are manipulated as a consequence.

        Enjoy the weekend, Michael. Keep up your observations. All is food for thought.

  24. Well it looks like Mr bonbon (aka Truthist) has slung his hook – good news if he’s putting his time to good use – but somehow I doubt that he is.

  25. Grzegorz Kolodziej

    Btw, I’ve found the earliest discussion on Bitcoin on this blog – it’s surprising that Bitcoin wasn’t actually mentioned on this blog until March 2013…

    This is the earliest mention of Bitcoin on this blog:

    “33square
    March 15, 2013 at 8:49 pm
    has the monetary value of bitcoin gone through the roof since the latest “crash”? (currently ~36 euro per bitcoin)
    why?
    are bitcoins just another bubble/fad?”

    No one answered him or her though, even though I spotted:

    “Adam Byrne
    March 14, 2013 at 10:56 am
    subscribe.”

    And this is the first discussion on Bitcoin on this blog:

    “whatamess
    December 13, 2013 at 10:34 pm
    Oh,good,you’re not cheerleading Bitcoin.
    You’re sidestepping the landmine of heavily investing in Bitcoin for now and instead cherry picking it’s “paypal” functionality…very smart,who would have doubted you Adam
    Lest we forget ,the Eircom shares fiasco…they sure ‘dressed up that lady !!and boyz oh boyz , how those smiles soon turned upside down
    I vividly remember in my teens walking into a huge casino and in the foyer,a couple bawling crying and my old man saying to me ” that’s why you only get $50 for the day !!!

    Adam Byrne
    December 13, 2013 at 10:37 pm
    I’m not cheerleading shit.
    People can make up their own minds, makes no difference to me.

    Adam Byrne
    December 13, 2013 at 10:38 pm
    I don’t have money to ‘heavily invest’ whatamess – I’m a student!

    Adam Byrne
    December 13, 2013 at 10:39 pm
    Bitcoin – Eircom – Casino
    Tenuous at best.
    Illogical flights of ideas at worst.

    Adam Byrne
    December 13, 2013 at 10:40 pm
    Sidestepping my arse – not my style.
    I tackle things head on.

    bonbon
    December 14, 2013 at 11:07 am
    Bitcoin – Eircom – Casino. A lot of lipstick on the financial pig, sorry, piggy bank.

    whatamess
    December 14, 2013 at 3:21 pm
    Bitcoin – airgead , mar dhea!
    The casino floor is “a cacophony of wonderful and alluring stimulation: bells ringing, siren-like lights flashing, change clanging, slot wheels whirring, digital sounds beeping – it’s all captivating. Why is it captivating? Because it’s non-verbal communication saying, “WIN WIN WIN”. It gives the impression that everyone is indeed winning when, in reality, most are LOSING.”
    And important to note – the people who gamble and lose ,don’t ehhhverrr ‘blog’ their losses!That’s gambling alright!

    AndrewGMooney
    December 14, 2013 at 8:41 pm
    Bitcoin may be the Napster of crypto-currencies. There’s no Spotify going to come and unseat Gold or ‘gold’ to unbelievers. I don’t believe in anything other than reality, gold is tested in reality, Bitcoin is experimental. As were tulips as a store of value. I’m waiting for Eric Janszen at iTulip.com to break his purdah and pronounce on all this. Peter Schiff is very good on some stuff but the anger he feels about his father’s treatment seems to cloud his worldview sometimes.

    “michaelcoughlan
    December 14, 2013 at 10:49 pm
    Hi Tony,
    “The only difference between bitcoin and gold is that one is totally electronic and the other can be carried by hand or pocket”
    Let me respectfully suggest the following; there are more differences. Gold has a history of use as money for thousnds of years. Bitcoin doesn’t. Gold also is ubiquitous in it’s use as money whereas bitcoin is only getting traction. Gold can increase in quantity per year by thd mining output whereas bitcoins are finite. Also Tony there is something I rely don’t like about bitcoin. Bitcoin was created by whoever and you can be sure that that entity controls at least half of the bitcoins in existence which will allow them to periodically crash the market cleaning up over and over again. Bitcoins may well reach stratospheric leves in price but will never have any value unlike gold which can be used to create useful products.
    Steer clear of bitcoins. They are a death trap for the unwary.
    Michael.
    REPLY
    joe hack
    December 15, 2013 at 12:20 am
    Spot on Micheal I have researched this topic at length.
    bitcion is far from gold and could be a dangerous money system if in it’s left in it’s present form.
    REPLY
    Tony Brogan
    December 15, 2013 at 12:36 am
    Dangerous?
    Who will, can, change it?
    But backed with gold and then used with a similar electronic system and voila. A perfectly sound money able to be used electronically, for any volume of trade world wide. Inflation free and no exaggerated boom and bust, no phony business cycle. Just harmonious mutual beneficial interest.
    (Un)Fortunately banksters and governments would have little say over it’s operation and effectiveness allowing efficient allocation of scarce resources to the benefit of all.
    your ambition of equality of wealth would be realized by such a system, Joe.

    joe hack
    December 15, 2013 at 12:13 pm
    Your wishes are not commands if only the world was full of honest people. Nor do I expect that any un-policed system would be any more honest than the one we have.
    It would be worse; it is a fantasy to suggest that all would well without control.
    Your suggestions are Dark Age stuff. bitcoin as you may know is not backed back by gold or anything, nor it likely to be.
    The lads that created it, can decide to do as they please with it, , they are in control and who are “THEY” they say that no one can touch the code including themselves? Do u believe that – the FSB, NSA, GCHQ, joe the hacker? Can Tap in to the inter-connector etc what happen if your computer crashes and your bitcoin record is gone who are you going to call, who are going to call when a transaction disappears into the either.
    Quite simply this is dangerous as is any one world currency that could fall in to the hands one person or group, think Hitler, think of the dollars power now, look were that led us, think of the power of banks, in the past and now, bitcion would be worse. One hsbc one lemans one aib with drug lords ……..no policeman.
    Already is been abused:
    http://nakedsecurity.sophos.com/2013/11/26/bitcoin-online-bank-robbery-because-thats-where-the-money-is/
    http://qz.com/150946/as-bitcoin-booms-so-does-bitcoin-bank-robbery/

    “Tony Brogan
    December 15, 2013 at 10:14 pm
    No bitcoins yet Adam. I looked at the graph and it looks just like the bubble graphs of debt, bonds and growth in the money supply. all are due for a reset(bust)of 85% or at the very least a long period of no movement.

  26. Grzegorz Kolodziej

    Also interesting – last night saw the largest sell-off in the cryptocurrency markets since July 15 – $13bn (7% of all crypto market cap).
    7% sell-off of the entire crypto supply: that would only indicate that very few people own a large percentage of all crypto supplies (it would be so funny if it was central banks after all; interestingly, when in September 2016, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts — the operator of the illicit online marketplace, it made the FBI the holder of the world’s biggest Bitcoin wallet…)

  27. Grzegorz Kolodziej

    Also, reports from anonymous sources in China indicate the country’s top financial regulator may be close to cracking down on initial coin offerings.

  28. David’s comments in the past indicated a belief in anthropomorphic climate change.
    s
    Some of us, perhaps the majority, respectfully disagree.

    Climate change regulations and carbon taxes are just more ways to divide us among each other in order to exert more control of the globalist agenda. Tribe v. tribe.

    Here is an opportunity to read the info on the differing perspective. Nobody “denies” climate change but there is strong opposition to the view that mankind is the source of the change. Change has been continual since the big bang.

    https://realityzone.com/inconvenient-lie-introduction/?affiliates=9

  29. http://www.thedailybell.com/news-analysis/how-society-grew-cold-dependence-on-cold-institutions/

    “”Radical experimentation in governance is required to heal society and correct the trajectory. Stagnation is the best we can hope for with the current model of government and corporate collusion.

    We need to restore the community structures of the past. We cannot simply do away with institutions people rely on and expect no turmoil. Rather, a model of a better society needs to be created.

    This is why the next movement that will drastically improve civilization will be a period of decentralization of institutions, marked by voluntary association.”"
    —————————————————————–
    Which tribe will you choose for your association.

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