{"id":13945,"date":"2015-10-30T06:27:09","date_gmt":"2015-10-30T11:27:09","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13945"},"modified":"2015-10-30T06:27:09","modified_gmt":"2015-10-30T11:27:09","slug":"the-latest-and-dumbest-central-bank-fraud","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13945","title":{"rendered":"The Latest (and Dumbest) Central Bank Fraud"},"content":{"rendered":"

The Latest (and Dumbest) Central Bank Fraud<\/a><\/h3>\n

A Financial Reckoning<\/strong><\/h3>\n

You go for a nice picnic on the slopes of Vesuvius\u2026 You spread out your tablecloth. You open your picnic hamper. You prepare for a relaxing afternoon in the warm October sun.<\/p>\n

And then someone comes running down the mountain, warning that the volcano is going to blow up. You pack up your sausages and put a cork in the wine bottle\u2026 and rush to the car and drive away. Better to be safe than sorry. And then? Nothing happens.<\/p>\n

\"Mt.Ontake\"When these ominous columns of smoke become visible, it may be time to make tracks. Or not. This image shows Mt. Ontake in Japan, which tends to erupt occasionally \u2026
\nPhoto credit:\u00a0Kyodo \/\u00a0<\/span>Reuters<\/span><\/p>\n

Most of the time, you can safely ignore the nervous nellies and prophetic Cassandras. (According to legend, Apollo gave Cassandra the gift of prophecy. When she refused him, he spat into her mouth so she would never be believed.) But sometimes the worrywarts are right\u2026<\/p>\n

For the last 16 years, we\u2019ve been writing a daily e-letter \u2013 first the\u00a0Daily Reckoning<\/em>\u00a0and now the\u00a0Diary<\/em>. We saw the collapse of the dot-com bubble coming and warned readers. Most didn\u2019t want to hear it; they were making good money in the stock market. It was a \u201cnew era.\u201d And they didn\u2019t want it to end.<\/p>\n

But the Nasdaq collapsed in 2000\u2026 and didn\u2019t recover until 15 years later. We believed at the time that the U.S. economy would follow Japan into a long, slow slump. With Addison Wiggin, we wrote a book about it,\u00a0Financial Reckoning Day: Surviving the Soft Depression of the 21st Century<\/em>.<\/p>\n

\"Nasdaq<\/a>The Nasdaq\u2019s bubble round-trip between the late 1990s and early 2000ds. No-one wanted to hear any warnings at the top (we still remember people buying profit-less wonder stocks for 100ds of dollars that don\u2019t even exist anymore today) \u2013 click to enlarge.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

The Latest (and Dumbest) Central Bank Fraud A Financial Reckoning You go for a nice picnic on the slopes of Vesuvius\u2026 You spread out your tablecloth. You open your picnic hamper. You prepare for a relaxing afternoon in the warm October sun. And then someone comes running down the mountain, warning that the volcano is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,6190,1799,10342,124,10341,690,1138,6593],"class_list":["post-13945","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-bill-bonner","tag-bubbles","tag-cassandra","tag-central-banks","tag-financial-reckoning","tag-risk","tag-stock-market","tag-warning"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13945"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13945\/revisions"}],"predecessor-version":[{"id":13946,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13945\/revisions\/13946"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}