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Last week I posted an article on the implosion of the official vaccine narrative. That’s a controversial topic so not surprisingly it generated some heat on both sides. And a few readers expressed the wish that I’d stay in my lane (precious metals investing) and avoid venturing into unrelated and less well understood territory.

But believe it or not, the public health establishment losing its credibility is related to precious metals, via something called the trust horizon. It works like this: When things are good and the people in charge of big systems seem to be running them well, we’re content to trust the experts. We keep most of our money in banks, brokerage houses, and crypto wallets that exist for us only as websites. We buy produce that’s grown in a different hemisphere and shipped via boats, trains, and trucks to corporate chain grocery stores. We vaccinate ourselves and our kids according to the schedules set by the NIH or the CDC. We pop pills on our doctor’s orders without doing any research. We eat processed foods on the assumption that the FDA keeps them free of dangerous additives. And we believe what we see on cable news.

In other words, our trust horizon, defined as the distance from ourselves at which we’ll believe what we’re told, is global. We assume everything everywhere is working for our benefit and we’re thus willing to put our welfare in those distant hands.

But let some big systems fail to take proper care of us and we pull back, finding people and institutions closer to home that we can see and judge first-hand. We move our money out of distant banks and brokers and into local credit unions whose managers live down the street…

…click on the above link to read the rest…

Ministry of Manipulation: No Wonder Trust and Credibility Have Been Lost

September 19, 2021

Ministry of Manipulation: No Wonder Trust and Credibility Have Been Lost

Now that every financial game in America has been rigged to benefit the few at the expense of the many, trust and credibility has evaporated like an ice cube on a summer day in Death Valley.

Here is America in a nutshell: we no longer solve problems, we manipulate the narrative and then declare the problem has been solved. Actually solving problems is difficult and generally requires sacrifices that are proportionate to one’s wealth and power. But since America’s elite are no longer willing to sacrifice any of their vast power for the common good, sacrifice is out in America unless it can be dumped on wage earners. But unfortunately for America’s elite, four decades of hidden-by-manipulation sacrifices have stripmined average wage earners, and so they no longer have anything left to sacrifice.

Enter the Ministry of Manipulation, which adjusts the visible bits to align with the narrative that the problem has been fixed and the status quo is godlike in its technocratic powers. All this manipulation doesn’t actually solve the problems, it simply hides the decay behind gamed statistics, financial trickery and glossy PR. The problems fester until they break through the manipulated gloss and the public witnesses the breakdown of all the systems that were presented as rock-solid and forever.

Let’s take three core fields of manipulation: cost of living, Social Security and the stock market bubble. Each is a key signifier of the status quo functioning as advertised, and so manipulating them to fit the narrative is the elite’s prime directive. Goodness knows what would happen if people were exposed to the unmanipulated reality, but it wouldn’t be good for America’s self-serving power elite.

…click on the above link to read the rest of the article…

Credibility from Apparent Hypocrisy

June 9, 2021

Credibility from Apparent Hypocrisy

Flip the script! Image by Gerhard G. from Pixabay

Purveyors of unpopular messages are often scrutinized for any inconsistent, seemingly hypocritical behavior that might give lie to their preachings and be used to discredit the unwelcome perspective. A famous example is Al Gore’s heavy air travel schedule to spread the word and take action against climate change, resulting in an enormous CO₂ footprint. If we all behaved that way, the very problem at hand would be substantially exacerbated.

Such accusations either knowingly or pathetically miss the obvious point that the net effect of Al Gore’s efforts may be positive owing to the simple idea of a lever: a little expenditure here can counteract vast expenditures elsewhere for an overall gain on the problem. For many, the glaring superficial contradiction is enough ammunition to discredit the entire enterprise.

But identifying possible hypocrisy in those who warn of future perils, as I have done, has a dark edge: if even those cognizant individuals cannot get away from behaviors they know to be damaging, doesn’t that only amplify the severity of the warning?

This is the part where I confess various behaviors that would seem to be inconsistent with my writings. It is true that my energy and resource footprints are far below the U.S. average—in electricity, methane, gasoline, food, and consumerism. I re-evaluated my footprint in comparison to average Americans in Chapter 20 of my textbook, confirming a factor-of-several reduction in most categories.

So I can perhaps justify some sense of credibility in putting my money where my mouth is. Or more accurately, I refrain from putting money places in accordance to what comes out of my mouth (and fingers). It can be hard to separate ecological responsibility from just being a cheapskate.

…click on the above link to read the rest of the article…

Blain’s Morning Porridge – Aug 13 – Argentina, Legarde and Europe

August 13, 2019

Blain’s Morning Porridge – Aug 13 – Argentina, Legarde and Europe

“I’m going down to Yasgur’s farm, gonna join me a rock and roll band.…”

Global Credibility Under Pressure – We’ve been Tangoed!

This morning’s headlines are screaming how Argentina and President Mauricio Macri have precipitated yet another crisis upon the stressed geopolitical battlefront… Relax. We are more than used to dealing with Argentina defaults… But, its far more complex than that. The latest Argentina Dance Macabre is all about Global Credibility. It’s another Massive Fail!

What does it say about the credibility of Global Institutions and Policy when Argentina’s whole market collapsed following a primary for an election in December? Ex-IMF president, and soon to be head of the ECB, Christine Lagarde personally staked her support for President Mauricio Macri’s pro-market government when she steamrollered through the IMF’s biggest ever bailout of $56 billion for Argentina last year.

It now looks an extremely poor call on Lagarde’s part. Macri won a mere 32% of the vote, while former president Cristina Fernandez de Kirchner won 47%. Don’t Cry for Me Argentina indeed… Domestic Argentine Politics have left the IMF looking stupid.

There are three major issues to consider here:

First there is the absolute predictability of what’s just happened in Argentina:

In return for the 2018 Bailout, the IMF demanded its usual pound of flesh policies: Austerity, Austerity and Austerity, spiced with inflation-targeted monetary policy, fiscal tightening, currency controls, and the keys to the Peso printing presses. Give Lagarde some credit – she did give lip service to the people with a smattering of minor austerity mitigants in terms of gender equality and social provision. But, essentially the IMF’s answer to yet another predictable Argentinian crisis was more of the same programme. You know the definition of madness…

…click on the above link to read the rest of the article…

Glenn Greenwald: Russia Collusion ‘Conspiracy’ Was “Saddest Media Spectacle I Have Ever Seen”

March 25, 2019

Glenn Greenwald: Russia Collusion ‘Conspiracy’ Was “Saddest Media Spectacle I Have Ever Seen”

Offering one of the most scathing responses to the Mueller report summary released Sunday night, Glenn Greenwald, a Pulitzer Prize winning journalist and founding editor of the Intercept, appeared on Democracy Now! Monday, where he lambasted the mainstream press for helping to perpetuate the “total fraud” that was the Russia collusion narrative.

The Intercept editor, who lives in Brazil with his partner, has been one of the most consistent voices speaking out about the mainstream press’s indulgence in “Russia collusion” conspiracy porn, blaming Rachel Maddow and her ilk for helping to discredit the broader media by spewing alarmist propaganda about the Mueller probe, and getting their audience’s hopes up for a major reveal that might ultimately end with Trump being driven from office…possibly in handcuffs.

Greenwald, who appeared on DN alongside former New York Times journalist David Cay Johnston, who argued the other side – that the Mueller report hasn’t satisfied questions of collusion or corruption – and that Trump remains a Russian “asset” (though he clarified that he didn’t believe Trump was an actual agent in the employ of Russian intelligence).

During a conversation where he compared Maddow to Judy Miller (The disgraced NYT journalist who spread misinformation on behalf of the Bush Administration during the runup to the Iraq War), Greenwald said the media’s spinning of Russia conspiracy theories wasn’t just incorrect, but also harmful.

“This is the saddest media spectacle I have ever seen since I began practicing journalism in 2005 and what makes it even sadder is to watch all the people who invested their journalistic credibility into what proved to be a complete and total fraud and scam continue to try and cling to some vestige of credibility by continuing to spin conspiracy theories that are even more reckless and more unhinged than those we’ve been subjected to for the past three years.”

…click on the above link to read the rest of the article…

An Obituary: Fred Credibility

January 31, 2019

An Obituary: Fred Credibility

As with many terminal patients the initial hope is that aggressive treatment would work and cure the patient. But when the one time emergency round of drugs didn’t cure the patient additional drugs were needed and turned the patient into a hopeless junkie. After multiple injections a sense of dread was making the rounds. QE1 did not cure the patient, QE 2 and 3 were required with a little twist here and there thrown in. But the Fed doctors kept promising all would be well and the addiction could be stopped and the patient returned to normal.

And so it looks promising for a while. There was that scary flare up in 2016 when the patient regressed and the normalization had to be put on hold, but then a miracle drug came along called Tax Cut and suddenly it seemed as if the removal of drugs from the system could be accelerated.

So jubilant and optimistic were the Fed doctors that they promised further rounds of withdrawal and kept pointing to their dot plot of normalization.

Yet here we are, a mere 3 months later and the Fed doctors are at a loss again. Unable and unwilling to admit to the patient the true nature of the disease the Fed doctors once again decided to stop all withdrawal of the drugs, worse, they indicated they may have to administer new drugs to come. The patient begged for more drugs and the Fed doctors absolved themselves of their hippocratic oath and capitulated once again to the patient’s scream for another high, a scream only drowned out by the dying sigh of the Fed’s credibility, the initial casualty in this war on monetary drug dependency.

For it is true, the Fed doctors failed to wean off the patient:

…click on the above link to read the rest of the article…

Expect Desperate and Insane Behavior From Government in 2018 – Part 2 (Bitcoin)

December 5, 2017

Expect Desperate and Insane Behavior From Government in 2018 – Part 2 (Bitcoin)

The financial crisis of 2008/09 was the most significant event to happen in my lifetime. That episode, coupled with the deeply unethical and corrupt response to it, led to a direct delegitimization of governments and institutions worldwide. It’s precisely this self-inflicted destruction of credibility which opened up the window for the birthing of a new monetary and financial system in the wake of Bitcoin’s emergence in early 2009.

Bitcoin is a system designed to be everything the status quo isn’t. Decentralized, transparent, permissionless, with a well-defined and restricted monetary supply curve. Given the backdrop upon which it emerged, it’s unsurprising that as more time passes, the more popular it becomes.

Humanity is desperate for a major reboot and an entirely different way of doing things. Bitcoin and other crypto assets offer exactly that opportunity in the realm of finance and money, thus capturing the imagination of millions of the most brilliant and passionate people around the world. Since the status quo stubbornly refused to reform and change the system after the financial crisis, humanity had no choice but to take charge and do it independently at the grassroots level.

One thing that’s become increasingly clear to me as I’ve added years and experiences to my life, is that governments, generally speaking, hate freedom. It’s why something as beneficial and benign as cannabis remains illegal throughout the world, and why people like Jeff Sessions still want to criminalize it even in states where the actual people living there voted to make it legal (see Part 1 of this series). While the fairytale we’re conditioned to believe tells us government exists to protect us and create an environment in which humans can thrive, the reality is quite clearly the opposite. The crooked response to the financial crisis demonstrated this in spades to anyone paying even the slightest amount of attention.

…click on the above link to read the rest of the article…

Red Lines & Lost Credibility

November 7, 2017

Red Lines & Lost Credibility

A major goal of this Asia trip, said National Security Adviser H. R. McMaster, is to rally allies to achieve the “complete, verifiable and permanent denuclearization of the Korean peninsula.”

Yet Kim Jong Un has said he will never give up his nuclear weapons. He believes the survival of his dynastic regime depends upon them.

Hence we are headed for confrontation. Either the U.S. or North Korea backs down, as Nikita Khrushchev did in the Cuban missile crisis, or there will be war.

In this new century, U.S. leaders continue to draw red lines that threaten acts of war that the nation is unprepared to back up.

Recall President Obama’s, “Assad must go!” and the warning that any use of chemical weapons would cross his personal “red line.”

Result: After chemical weapons were used, Americans rose in united opposition to a retaliatory strike. Congress refused to authorize any attack. Obama and John Kerry were left with egg all over their faces. And the credibility of the country was commensurately damaged.

There was a time when U.S. words were taken seriously, and we heeded Theodore Roosevelt’s dictum: “Speak softly, and carry a big stick.”

After Saddam Hussein invaded Kuwait in August 1991, George H.W. Bush said simply: “This will not stand.” The world understood that if Saddam did not withdraw from Kuwait, his army would be thrown out. As it was.

But in the post-Cold War era, the rhetoric of U.S. statesmen has grown ever more blustery, even as U.S. relative power has declined. Our goal is “ending tyranny in our world,” bellowed George W. Bush in his second inaugural.

…click on the above link to read the rest of the article…

Do Americans Live In A False Reality Created By Orchestrated Events?

February 24, 2016

Do Americans Live In A False Reality Created By Orchestrated Events?

Most people who are aware and capable of thought have given up on what is called the “mainstream media.” The presstitutes have destroyed their credibility by helping Washington to lie—“Saddam Hussein’s weapons of mass destruction,” “Iranian nukes,” “Assad’s use of chemical weapons,” “Russian invasion of Ukraine,” and so forth. The “mainstream media” has also destroyed its credibility by its complete acceptance of whatever government authorities say about alleged “terrorist events,” such as 9/11 and Boston Marathon Bombing, or alleged mass shootings such as Sandy Hook and San Bernardino. Despite glaring inconsistencies, contradictions, and security failures that seem too unlikely to be believable, the “mainstream media” never asks questions or investigates. It merely reports as fact whatever authorities say.

The sign of a totalitarian or authoritarian state is a media that feels no responsibility to investigate and to find the truth, accepting the role of propagandist instead. The entire Western media has been in the propaganda mode for a long time. In the US the transformation of journalists into propagandists was completed with the concentration of a diverse and independent media in six mega-corporations that are no longer run by journalists.

As a consequence, thoughtful and aware people increasingly rely on alternative media that does question, marshall facts, and offers analysis in place of an unbelievable official story line.

The prime example is 9/11. Large numbers of experts have destroyed the official story that has no factual evidence in its behalf. However, even without the hard evidence that 9/11 truthers have provided, the official story gives itself away.

…click on the above link to read the rest of the article…

MH-17 Case: ‘Old’ Journalism vs. ‘New’

October 21, 2015

MH-17 Case: ‘Old’ Journalism vs. ‘New’

Exclusive: For skilled intelligence operatives, the Internet can be a devil’s playground, a place to circulate doctored photos, audio and documents, making investigations based on “social media” and such sources particularly risky, a point worth recalling in the mystery of Malaysia Airlines Flight 17, says Robert Parry.

The first thing any thinking person learns about the Internet is not to trust everything you see there. While you can find much well-researched and reliable material, you’ll also encounter disinformation, spoofs, doctored photographs and crazy conspiracy theories. That would seem to be a basic rule of the Web – caveat emptor and be careful what you do with the information – unless you’re following a preferred neocon narrative. Then, nothing to worry about.

A devil-may-care approach to Internet-sourced material has been particularly striking when it comes to the case of the shoot-down of Malaysia Airlines Flight 17 over eastern Ukraine on July 17, 2014. It has now become de rigueur on the part of the West’s mainstream news outlets to tout the dubious work of a British Internet outlet called Bellingcat, which bases its research on photographs and other stuff pulled off the Internet.

Bellingcat’s founder Eliot Higgins also has made journalistic errors that would have ended the careers of many true professionals, yet he continues to be cited and hailed by the likes of The New York Times and The Washington Post, which have historically turned up their noses about Internet-based journalism.

The secret to Higgins’s success seems to be that he reinforces what the U.S. government’s propagandists want people to believe but lack the credibility to sell. It’s a great business model, marketing yourself as a hip “citizen journalist” who just happens to advance Official Washington’s “group thinks.”

…click on the above link to read the rest of the article…

Fed Cred is Dead

September 22, 2015

Fed Cred is Dead

The economy is a two-headed monster. One head is the trade in real goods and real services. The other head is the financialized traffic in swindles and frauds that surrounds banking. There is some deception and overlap about which is which. For instance so-called health care might be perceived as a real service. In fact, it’s a hostage racket, designed to victimize “patients” at their weakest, with a “protection” premium that easily runs to $12,000-a-year for a married couple, even when they aren’t sick, and vulnerable. Just see what happens if you go to an emergency room with an injury that requires six stitches. Next stop: re-po land.

Most of the remaining on-the-ground economy consists of people merely driving their cars absurd distances, burning gasoline, between exquisitely-tuned giant warehouse store operations that were designed to destroy local Main Street trade — and accomplished that, by the way, to the applause of the local citizens whose towns were destroyed (“We want bargain shopping!”).

Now, of course, even WalMart is looking over its shoulder at the collapse of the complex arrangements that allowed it to metastasize across North America like some cancerous fungus. Globalism is winding down as the gargantuan matrix of Ponzi schemes based on owed money dissolves debt by debt. It isn’t long before nobody is a credit-worthy borrower, and no transaction in real goods can be risked unless cash hits the barrelhead — which turns out to be a very awkward way of doing business.

It’s especially like this these days in the so-called “emerging markets” — e.g. places in the world with large populations of willing factory slaves. The traffic in shipping-out containers full of flat screen TVs (or shipping-in the raw materials to make them) won’t work very well without letters-of-credit, which are promises between banks to make sure that the stuff on the receiving end gets paid for.

…click on the above link to read the rest of the article…

Is The Credibility Bubble Bursting?

April 20, 2015

Is The Credibility Bubble Bursting?

In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in exchange aren’t expressing faith in the money itself but in the competence and honesty — and power — of the institutions managing it. Let that faith erode and those slips of colored paper and ephemeral computer bits revert to their intrinsic value.

And on the credibility front, the trends aren’t encouraging. Consider the coverage of this weekend’s Washington DC meetings of the International Monetary Fund and World Bank, two global financial institutions that the US dominates. From the New York Times:

At global economic gathering, concerns that US is ceding its leadership role

This article is available only to subscribers, but a similar one from India’s Business Standard makes many of the same points:

US primacy seen ebbing at global meet

As world leaders converge here for their semiannual trek to the capital of what is still the world’s most powerful economy, concern is rising in many quarters that the United States is retreating from global economic leadership just when it is needed most.

The spring meetings of the International Monetary Fund and World Bank have filled Washington with motorcades and traffic jams and loaded the schedules of President Obama and Treasury Secretary Jacob J Lew. But they have also highlighted what some in Washington and around the world see as a United States government so bitterly divided that it is on the verge of ceding the global economic stage it built at the end of World War II and has largely directed ever since.

…click on the above link to read the rest of the article…

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