Posted by: graemebird | December 3, 2009

Its Time To Review Our Notions Of What Does And Does Not Constitute Financial Sophistication.

From elsewhere.

Think about the financial differences between the following two hypothetical options, and how each option, would tend to affect frugality in government:

Option 1.

We build in a slow but persistent way canals. The Canals are covered with ETFE. The free enterprise tugs travel on salt water but the canals are so constructed as to naturally lead to massive desalination, and the collection of the fresh water, and so there are trees and agriculture on each side of the canals, with plenty of land set aside for nature corridors. In this scenario we even help nature along with desalinated water brought under the ground in black pvc pipes that trickle the water out, just low enough, not to dry out right away.
We also put in the optical fibres everywhere and charge those information canals out to the private sector. And we do this all coming out of a surplus budget.

Option 2.

We let the financial sharks handle everything. Run big deficits. The banksters put us in massive debt to the communists. We sell off all our natural and strategic assets. The politicians go on a splurge of vote-buying. And we persistently call option 2 “the market”.

You see I think there may be an option 3. But its a complicated thing and one that will have to wait. While we are waiting option 1 is far more compatible with freedom. Far more in line with economy-in-government, liberty, fairness, equality before the law, national sovereignty, and so forth.

You build slowly and persistently so the costs don’t blow out. You don’t borrow to build or the costs will blow out. But option (a) is about improving ones financial position and building serious net wealth.
Option (b) is a changeling-hobgoblins reptilian-banksters version of the market. Option (b) has got nothing to do with any sort of sanity in finance, or any sort of capitalism, properly considered.

If we let everything go ahead under the mentality of the fractional reservists we are just watering a garden with Paulson-like triffids, that will rise up and scuttle our country in a time of great crisis, like the banking criminals did in the US. We aren’t as far along as they were. After all our central bank is publicly owned. Whereas the Americans had a central bank based on “public private partnership.” (I hope all of your were made properly nauseous by that horrid phrase.)

One thing we know for sure is we have to separate corporations from government. Or else the two parties become a Siamese twin and start poisoning the body, of each one to the other. They corrupt everything even down to each-others language. The people wind up being corrupted by their Orwellian language, and so the people cannot think straight any more.

I cannot go in for this idea of emissions trading and I want to turn some of you lefties around on this matter. Cards on the table; I have a different interpretation of the science.

My main concern is the following: I wouldn’t want to let one unnecessary 20c coin be put in the hand of blood-sucking fractional reserve vampires. We can wean off big government later. What we need is to bring the number of thieves down from two (2) to one (1)-only.
First step I say is we cut out the Paulsons of this world. We cut out all these scam-artists with their lying rating agencies, and their numbers rackets. Their “credit default swaps” and their “financial derivatives.” More correctly described by Celente as “scams schemes and ripoffs”. I’m not even saying make these practices illegal. Thats not the emphasis. The emphasis is that they don’t get invited to the party. They don’t even get the crumbs which fall from the table.

So I’m just here to try and get some of you to review some of your basic understandings about what does and does not constitute financial-soundness and sophistication. I guess I’ll stay satisfied arguing about the science elsewhere. These “people” these bankers, the Paulsons of the world, we do not need them. Simple pride suggests we systematically cut them off at the knees, at every possible turn and cut them out of any process in any way we can.

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Responses

  1. Why are you blaming the banks for your underwater mortgage?

    I WASN’T. BUT NOW YOU MENTION IT IT IS THERE FAULT. THEY ARE THE PEOPLE WHO JUICED UP THE PRICE OF HOUSES AFTER ALL. CREATING BUBBLES AND ARM-TWISTING PEOPLE INTO DEBT. THEY WERE THE ONES WHO DIVERTED RESOURCES FROM MANUFACTURING TO FLIPPING HOUSES. IF I HAD OF BEEN BLAMING THEM WHY DID YOU THINK I WOULD? ITS THEIR FAULT. EVERYONE KNOWS YOU HAVE TO BUY A HOUSE SOMETIME. SINCE AFTER ALL YOUR MONEY WILL BE RENDERED WORTHLESS BY THE BANKS. ITS THEIR FAULT AND OBVIOUSLY SO. THEY DEBASE THE CURRENCY AND DEMAND FURTHER DEBASEMENT FROM GOVERNMENT.

    It wasn’t their fault you walked through the door for a loan, which they gave you and then you went and bought a house that promptly fell in value.

    OF COURSE IT WAS. THEY CREATED THE ENVIRONMENT OF INFLATION. AND OBVIOUSLY SO. THEY DEBASED THE CURRENCY. THEY CREATED FROM 1971 A SITUATION WHERE PEOPLE DIDN’T BUY THE DREAM HOME DIRECT. BUT RATHER THRUST OTHER BUYERS BETWEEN YOU AND YOUR HOME AND MADE THAT HOME THREE TIMES MORE EXPENSIVE THEN IT OUGHT TO HAVE BEEN. THEY ARE A “VAMPIRE SQUID ON THE FACE OF HUMANITY”

    THEY CHANGED UTTERLY OUR SOCIETY AFTER 1971 AND ONLY FOR THE WORSE. OF COURSE THEY WERE COUNTERFEITERS PRIOR TO THAT. BUT THEY WERE MORE MEASURED IN THEIR COUNTERFEITING.

  2. This is an example of what I’m talking about. What is financial sophistication and what is not? Cambria’s understanding of finance is utterly primitive. Cambria has no idea of the connection between finance and wealth creation. He imagines the naked short selling rackets and various other numbers scams that the Goldman gang, the Morgan crew, the Merrill Lynch coterie ……. he imagines that their scams, schemes and rip-offs are examples of wealth creation. This is because he is an idiot.

    Because wealth creation has got nothing to do with these miscreants. Broadly speaking; debt can only create wealth where the motive for going into debt is the improve cash flow. Yet the debasers create a situation of low-yielding assets where people go into debt in the hope of capital gains. A bubble is a situation wherein capital gains are not accepted as some sort of unexpected and welcome afterthought. But rather where these capital gains are actively sought as the thing in itself. There are exceptions to this general rule involving “look-through earnings.”

    Ones financial position is better when one builds cash-flows and pays off debt. But these fellows base their whole act on creating debt instruments that they can pick up endless commissions on, and wanting us to flog all our gear off to communist China.

    Enlightened resource allocation for wealth creation comes with homesteading. With clear rules for staking a claim. A claim wherein the maximum intense usage is expected for a small claim, insofar as land area is concerned. But where these parasites are at is to bundle huge resources together and set up auctions. The buyer is then in heaps of hock. Now there are traded shares that the endless skimming of brokerage can be had with. But the giant entity which ended up buying, in the deep pockets auction, is now in a shitload of debt. So they have to quickly involve themselves in some deal with communist china and offload all our assets for a song.

    Think of the sweet bargain basement deals China has gotten off us. 25 year gas deals. Virtually giving away the gas. The price of the gas is so much in the communists favour.

    Its all because of the financial unsophistication of the way this crowd goes about things. An whole industry of proven failures when it comes to finance. Constantly being bailed out and subsidised. Peole who failed the market test but are still clawing bonuses out of the money they steal from the public.

    Rocket scientists? Hardly. Just a bunch of bums. Political operators. Persistently running interference for the guild of thieves. Three straight years of threads of doom is testimony to their lack of financial sophistication, their total non-understanding of economics, and their willingness to persistently bullshit the public.

    The banking bigshots are the main enemy here and not the socialists. Once the banks have had their wings clipped, the leftists will have to realise, that economy in government requires them to reign in the level of projects the government can take on.

  3. Mr B

    No disrespect intended, but do you think you might have damaged some of your property’s value when you ripped all the copper wiring out?

    Not saying it wasn’t a good idea at the time – just that Real Estate Agents will look for any excuse to knock an Honest White Man down a few Grand.

    I HAD TO BARRICADE THE UNDERNEATH OF THE HOUSE AND USE NON-COPPER PIPING JUST TO STOP MY THE PLACE BEING CONSTANTLY WRECKED BY THIEVES.

    • Theives were stealing your copper piping?

      INDEED THEY WERE. BUT I HARDENED UP THE HOUSE. I ALSO MANAGED TO CATCH THE EVIL LITTLE BASTARDS WHO TRIED TO BURN IT DOWN.

      • They tried to burn your house down? What happened?

        FORTUNATELY THEY WERE STUPID FAMILY-ASSISTANCE-DERIVED KIDS AND THEY DIDN’T HAVE THE NOUS TO BURN IT DOWN. THEY LEFT A BIG BURN-MARK IN THE CORNER. YOU SEE WE HAD JUST VACATED THE PLACE AND WANTED TO BRING IT UP TO SCRATCH FOR POTENTIAL RENTERS. SO THE KIDS DIDN’T HAVE MUCH TO WORK WITH.

  4. There is an enormous amount of anti-economics horse-shit going down on Catallaxy today. rogs persistent idiocy about nuclear power. And check the following:

    ” I think carbon pricing (of some sort) would get us where you say we should broadly be heading but without making informational and planning demands of the government of the day.”

    Taxing carbon isn’t getting anyone anywhere except down to the Centrelink. Taxing carbon will not remove the restrictions to more energy production. Its yet one more restriction and an utterly devastating one.

    Jason Soon has lost his marbles.

  5. Graeme
    Let’s say the 5th worst scenario under the climate change researchers’ theories is only true with 0.5% probability.

    0.5% of a very large cost is still a lot, we have to be prepared. it’s like taking out insurance

    NO LETS NOT SAY THAT. DON’T MAKE SHIT UP AND TELL LIES. NOW HAVE YOU GOT ANY EVIDENCE FOR THIS CRAP. AND WHERE IS OUR INSURANCE FOR GLACIATION YOU MORON.

    WHAT IS THIS IDIOCY ABOUT “LETS SAY” THIS OR LETS SAY THAT? ITS ALL ABOUT EVIDENCE. AND SUPPOSE WE WERE GOING TO OVERHEAT? REDUCING CO2 OUTPUT IS NOT INSURANCE FOR THAT.

    SEE YOU COME OUT WITH THIS THREE YEARS ON. ITS A CRUDE, IDIOTIC, ANTI-SCIENTIFIC NONSENSICAL ARGUMENT. WHY DIDN’T YOU ADDRESS MATTERS THREE YEARS AGO?

    IF WE WERE TO HAVE A GAMMA RAY ATTACK WHICH HEATED THE PLANET UP THE LOWER CO2 LEVELS WOULD DO NO GOOD FOR US AT ALL. WE WOULD WANT THE COAL LIQUIFICATION INDUSTRY, SO THAT WE HAD TO SO2 TO PROVIDE SOME SORT OF SHIELDING. WE WOULD WANT THE WEALTH TO LOOK AFTER THE INJURED PEOPLE. THE ELECTRICITY TO PUMP THE WATER TO PUT OUT THE FIRES.

    YOU DO NOT HAVE A PROBLEM FOR WHICH A REDUCTION IN THE ALREADY LOW LEVELS OF CO2 IS THE SOLUTION.

  6. Fleeced its just the lying of the CO2-bedwetters. When Turnbull supports the ETS he’s being principled and pragmatic when it suits the liars purposes.

    Once we allow people to get away with this stuff in a situation of total lack of evidence then we cannot win against these people. I understand that we need a certain threshold of supporters due to the perverse rules we are faced with. But were this not the case, and in my view under any circumstances, it would have been better to cull CO2-bedwetters. They are an utter menace. Their mentality is appalling. Born sellouts. People who stick their fingers in their ears. Who refuse to hand over the evidence. And they are appeasers too. When was the last time we had a scientific argument about this? Last time Shem just warmed over the Al Gore ice core stuff. I told him why that wasn’t evidence. It did no good at all. Humphreys has never justified his appalling behaviour on either scientific or economic grounds. Because he was a CO2-bedwetter he simply adopted the bogus economics to support that.

    Clearly Turnbull was of the same ilk. He would have delivered us unto bondage one sellout at a time.

    Comment by graemebird | December 4, 2009

    “Mudi, Turnball really believed in the ETS. So he couldn’t just oppose it.”

    He could have come good with the evidence is what he could have done. Policy isn’t about following irrational beliefs. See what you are saying here is “I believe this …… but if you believe THAT …… well if thats your “bag” man I’m cool with your beliefs. Follow your star..”

    But you cannot be like this. Its not a question of belief. Its a scientific question. And we had a whole contingent of born traitors who refused to come good with the evidence and jumped from foot to foot talking about principle sometimes and pragmatism when it suited them.

    Comment by graemebird | December 4, 2009

  7. ENOUGH. I’LL NOT HAVE THESE UNDERHANDED ATTEMPTS TO MISREPRESENT WHERE I’M COMING FROM.

  8. Its the bankers we want to put in their place fella.

  9. Ther Rothschilds and their ilk. I understand what you are saying sir.

    I HAVE NO IDEA HOW POWERFUL SUCH PEOPLE STILL ARE. BUT THE IDEA IS TO NAIL EVERYONE. NOT WITH A RACIAL CRITERIA. BUT SIMPLY BY WINDING UP FRACTIONAL RESERVE.

  10. You don’t have to go far to find the typical underhanded, mean-spirited and slimy arguments bankers use. Here is Steve Edney. Hardly one of the Rothschildren. But a banker, rhymes with wanker, nonetheless.

    “AGW is not only a complete waste but is diverting the State from dealing with real pollution”

    “What is “real polution” RL? The lower classes?”

    But still an even slimier comment comes from the consistent tin-eared idiot FDB:

    “If AGW isn’t a problem, why are you an advocate of nuclear power, genius?”

    What a fucking moron FDB is. He must only be there to make the banker idiots on Catallaxy seem normal.

  11. There must be Jew in Mr Edney

    THERE IS BANKER IN MR EDNEY. ITS A CULTURAL AND A MEME-TAINT. NOT A GENE TAINT. ON THE OTHER HAND MR CAMBRIA IS A GOTH-JEW. AND THE MISFORTUNE WILL COME, IF IN LASHING OUT AGAINST THEIR OPPRESSORS, PEOPLE WIND UP HURTING THOSE NOT RESPONSIBLE. OF COURSE THE PAULSON TRAITOR AND THE CAMBRIA QUISLING WILL HAVE LONG SINCE LEFT TOWN. AND SO THEY WILL HAVE SET UP INNOCENTS FOR REPRISALS FOR CRIMES THAT THE BIGSHOTS COMMITTED.

  12. See how the triangulater Edney starts making accusations against Rococco Liberal to throw the attention off the bankers cap and kill schemes. Such schemes are made to extort money off the rest of us and put it in the pockets of the bankers.

    But somehow the banker Edney has laid out the accusation that RC is in favour of getting rid of the lower classes.

    Edney is in the business of CREATING the lower classes. Since it is debasement that is the main cause of poverty.

  13. It becomes clear that after three years the bankers on Catallaxy are not there to debate issues in any fair way. They are there almost full time running interference for their scams.

    All it takes is enough of a contingent and then the others will follow the general zeitgeist like sheep and be force-multipliers to what the Edneys are about. Notice that Edney has to be a finance communist. Or else why would Bahnisch have let him head up threads?

  14. Ah yes, Prime Minister Quisling. A friend of my father’s I believe.

    It was such a pity that he was unable to avoid all that unpleasantness at the hands of the Red traitors in Norway after our unfortunate loss of the war.

    My own family was not left untouched by the tragic events in La Belle France following the scandalous seizure of power by that dangerous radical deGaulle.

  15. Mr Romanov

    Are you also related to the fine family that was tragically massacred by those Talmud-reading Bolsheviks?

  16. Of course, my good Marquis. It is for this reason that I fully realise the need to assert one’s rule forcefully and powerfully when dealing Reds, Anarchists, and the rest of the tyrannical mob.

    Fortunately the many societies of which I am a member now have things organised in such a way that I and others can “influence” events, as it were, so that they work to one’s advantage in a world infested by cruel and mindless democracies.

  17. “Yes, I’ve been thinking about this myself. I was tending to think that it did involve a small bet on C02 among others but now tend to think that backing the field is adaptation. Or it may simply be that adaptation involves keeping the money in your pocket and not placing a bet.”

    Well great dover. Can you speed up your thinking process a little bit you dolt? You’ve been on Catallaxy for three years while I’ve demanded evidence for THE LIKELIHOOD OF catastrophic warming. Evidence that a little human-induced warming is a bad thing during a brutal and pulverising ice age. And even evidence for more than an insignificant amount of CO2-induced warming.

    You have been there all that time you stupid, softheaded twit. And you know full well that no-one came up with squat. Yet you adopted this moronic betting analogy and threw in with the traitors anyhow.

    Can you move your fucking act along you fucking slowpoke. Look how this sloth on valium act reflects on your historical interpretation credibility. After all you never integrated the information available from the Soviet archives.

    Speed up dover ya fucking sleepwalker.

  18. . ON THE OTHER HAND MR CAMBRIA IS A GOTH-JEW.

    But I thought you said once the treasonous bastard is a wop.

    YES HE IS A WOP. BUT GOTH MIGHT HIT IT BETTER. TO MAKE SURE WE AREN’T MIXING HIM UP WITH DESCENDANTS OF DISPOSESSED ROMAN CITIZENS. WE WANTED TO IDENTIFY THIS FELLOW WITH ALARIC AND THAT CROWD.

    Get it freaking right you Uncle Tom, is he a goth jew or a wop?

    A GOTH-JEW-WOP. NONE OF THIS REALLY MATTERS. HE HAS A PRIMITIVE MINDSET AND FAVOURS THE BANKS STEALING OF THE PEOPLE. ANY HUMAN BEING WOULD RATHER HAVE IT THE OTHER WAY AROUND BUT WOULD SETTLE FOR A NO-STEALING ARRANGEMENT. ONCE THE BANKER BIGSHOTS HAD BEEN SOLD UP THAT IS.

    Stop being inconsistent for the the readership’s sake.

  19. What has happened to rog? It used to be that he was a reasonable commenter but had this sick dislike of me. Still I thought reasonably well of him. But this last week its like he’s fallen out of the stupid tree and hit every branch on the way down.

    “Even Alan Kohler is finding the irony of the Libs rejecting the free market option for the Big Government appealing.”

    Not even a neoclassical economist and he’s calling the ETS criminal scam “the free market”

    He never used to fall for that thing? Has their been a recent car accident in his life or something?

    Its reminiscent of the stupidity that suddenly fell upon Cambria a couple of years ago. Before Cambria reached the age of 50 or 51 he was still pretty sharp.

  20. The other thing rog has been doing is showing up on Catallaxy claiming that nuclear is expensive. There seems to be no shaking him from this misapprehension. The cheapest electricity source cannot also be the most expensive. Clearly rog doesn’t have the detailed information on this and is winging in on the basis of some final draft that the evil bastards managed to get hold of.

  21. Here is Jarrah at Quiggins place:

    “Don, what you ask for is approximately what the Liberal Democrats offer. We oppose any subsidies whatsoever, for nuclear, coal or renewables. We’re debating (but haven’t made official policy) a carbon tax that makes coal unsustainable and nuclear/renewables possible. Thus you get your wish for coal to be phased out and replaced. All without heavy-handed regulation. A win-win, don’t you think?”

    There has never been any such debate. There has been concerted obstruction and evasion. No supporter of this anti-economic vandalism has given us a problem, for which carbon tax is the solution to that problem.

    I recommend culling these people. How can they ever after this be trusted? Its pretty simple. You have to have a problem before you destroy peoples lives, ruin their business prospects, trash their share investments, and negate their future real wage rises with a non-solution that does not relate to any known problem.

    If you were overheating, destroying our people in the coal industry, and selling out our sovereignty does not relate to the overheating problem.

    I’m seriously moving for a culling. I think this is a serious motion. That we cannot go on with these people buggering us at every step and in contempt of evidence.

    They do not belong in a third party since a third party must take on the principled approach that the bigshots find difficult.

    Comment by graemebird | December 4, 2009

  22. “I recommend culling these people. ”

    What do you mean by culling?

    WHERE IS THE QUOTE? TRY QUOTING A BIGGER CHUNK TO GET THE CONTEXT. IS THIS YOU BEING AN IDIOT FOR A SPECIFIC PURPOSE CAMBRIA?

    OBVIOUSLY IT MEANS CULLING FROM THE PUBLIC SERVICE YOU UNDERHANDED FUCKWIT. YOU ARE THE PSYCHO-PATH CAMBRIA.


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