On our way to becoming a nation of hobos, the Democratic Party’s Antifa shock troops brought out the lethal weapons this weekend, hoping to provoke a Kent State 2.0 type bloodbath that would clinch the election for the mummified remains of Joe Biden, currently reposing in his basement sepulcher. How’d that work out?
In Louisville, Saturday, just after lunchtime, the self-styled Not Fucking Around Coalition (NFAC) was mustering for action and “inspecting firearms” (according to NFAC comandante Grand Master Jay) when one of said weapons accidently discharged and mowed down three NFAC warriors — nicely demonstrating the hazards of fucking around with loaded weapons.
In Austin Saturday night, one feckless BLM mob marcher name of Garrett Foster brought his AK-47 to the street party. When he pointed it at a motorist trapped by the crowd, he got blown away to that great struggle session in the sky, the surprise of his life, I’m sure.
In Portland, OR, police found a bag of loaded rifle magazines and Molotov cocktails in the nearby park that serves as the rioters’ marshaling yard. Portland Mayor Ted Wheeler did not attend the evening’s frolics at the sore beset federal courthouse, having successfully subjected himself to ritual humiliation himself a few nights earlier. After midnight Sunday, police declared the Antifa actions “a riot” and made a few arrests.
Up Seattle way, a federal judge struck down the city council’s order against police using tear gas and pepper spray on rioters just in time for another weekend of rioting. SPD Chief Carmen Best declared, “In the spirit of offering trust and full transparency, I want to advise you that SPD officers will be carrying pepper spray and blast balls today, as would be typical for events that carry potential to include violence.” Hours later, after smashing the windows of ground-floor businesses, setting fire to a construction site, and trashing the SPD’s East Precinct building, pepper spray and blast balls were deployed and forty-five Antifas were arrested (on rioting, assault, and other charges), while twenty-one SPD officers were injured.
Down in LA, Antifas broke into the federal Bureau of Prisons Detention Center. In Richmond, VA, rioters set fire to a city dump truck used as a barrier to protect a police station.
So it goes in the insurrection summer of 2020. The nation’s attention is averted from the real action taking place as the economy continues to implode and the US dollar slides on the Forex market — meaning that not only is business failing everywhere, and livelihoods extinguished, but the medium-of-exchange that represents all transactions by any remaining business is accelerating its decline toward the target value: zero. This is unfortunately what comes of the fiscal profligacy prompted by the corona virus crisis, with the Senate poised to introduce another $1 trillion in an emergency assistance spending bill that would reimburse 70 percent of unemployed workers’ lost wages. Over on the House side, Speaker Nancy Pelosi upped the ante to $3 trillion in emergency spending, designed to crater the dollar even faster and, theoretically, assure a Democratic party victory on November 3 (to govern the smoldering cinder that will be left of the USA).
This is the interesting section
The counterforce to that lethal inflation is the choking off of capital flows from the tens of millions of mortgages, car loans, and myriad other obligations that can’t possibly be paid in August, September, and October. These tributaries flow into the larger rivers of capital, and when they dry up the entire global banking order may keel over, with those fabled financial weapons of mass destruction, the derivatives, triggering an orgy of counterparty insolvency. When capital stops flowing, you see, money doesn’t just sit there, it vanishes. The question is: can it disappear faster than fiscal policy-gone-wild can summon fresh money into existence. I guess we’ll find out.
The world has gone broke before — the Dark Ages, the Plague Years, the Thirty Years’ War, the Great Depression — but never broke like this, or this badly, or had so many people in it who were going to suffer from being broke. The Antifas on the streets of Portland, Seattle, and elsewhere probably don’t have collateralized loan obligations and other financial esoterica on their minds, but these things lurk somewhere in the collective subconscious behind the nihilism they’ve fallen into these brutal dog days of summer as the insane lead the blind.
Plain for all to see, you cannot introduce a new system without first removing the old one,
You cannot have a cashless society without removing the cash.
And yes, to whom are we all bankrupt? It’s long been said that if you owe the bank $100,000 and you can’t pay, you have a problem. But if you owe the bank $100,000,000 and you can’t pay, the bank has a problem.
I think it’s long overdue that we tell the banks, “We don’t have the problem, you do”
Long term plans Kev, a bit like the London School of Economics.Ed
Another Economic Riddle
by C.J.Dennis
I venerate economists
As very learned blokes,
But when in paradox they speak
Their meaning oft I vainly seek,
Suspecting subtle jokes.
They say the whole world’s down and out;
But here’s what I can’t see:
If every land, beyond all doubt,
In all the world is up the spout –
Then who’s the mortgagee?
Do we owe money in the moon,
Or some celestial land?
Or have we creditors in Mars,
Or other fixed and unfixed stars,
Who hold our notes of hand?
If not, why all the fuss and fret?
I’ve conned it o’er and o’er,
And find no clear solution yet.
If all the earth is deep in debt,
Who is the creditor?
When men go into bankruptcy
The case is plain as day:
What is not in the dear wife’s name
Grim creditors will promptly claim,
And assets melt away.
But when a whole wide world’s in soak
And cannot raise the tin,
Here’s where I half suspect a joke:
When all the earth goes stoney broke,
Who puts the bailiffs in?
The Founding of the Manchester School of Economics.
From “Twilight Over England” – William Joyce
As there approached, during the last century, the final struggle to eliminate everything that did not reek of materialism, it was only natural that the Liberal Industrialists should found a college of Propaganda. This was the Manchester School of Economics. Tenth rate philosophical hacks were bought and assembled with instructions to invent the [28] science of economics and justify the abominations which the craw-thumping Radical plutocrats were each day practising on the masses of the people. The doctrines of this so-called school were very simple. The great and eternal verity of economics was announced in the golden words: “Buy in the cheapest market and sell in the dearest”.
This commandment being devoutly accepted, every other grace necessary to salvation would follow of its own accord. H a l l e l u j a h ! How Jewish it all sounds. It followed, of course, that human flesh and blood must also be purchased in the cheapest market and its products sold in the dearest—for the benefit of the dear kindly old employer who erected outside his sweat-shops a tin tabernacle to which his workers must, under pain of dismissal, go every Sunday to thank God they were poor and hear sermons on the blessedness of their simple condition and “station in life”. Then, of course, another grand precept was that of Free Trade. England had a start of almost 50 years ahead of the Continental countries in the matter of this Industrial Revolution.