Is The Economy Just Now Falling Apart

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clarke-connolly

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tldr

tldr

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PlunkettsGhost said:

View: https://www.youtube.com/watch?v=dk3AVceraTI
Click to expand...


Well, yd said that Myles would explain this. Mr O'Reilly, where for art thou?

It's difficult to believe this is true, it's so incredibly explosive. At least there's a face on this Webb chap now. Can you imagine? It suggests a mechanism for the mass expropriation of securities upon the next systematic crisis in the stock markets through the seizure of other people's collateral. When trust is dead, a relationship is dead.

We've heard so much about this sort of thing in the past couple of decades that's difficult to credit it as anything other than uneasy conjecture. 2024 is supposed to be the year when the shtf so we'll see. Anyone paying attention can't say they're bored.
 
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Mad as Fish

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PlunkettsGhost said:

View: https://www.youtube.com/watch?v=dk3AVceraTI
Click to expand...

I stayed up to watch a good chunk of that last night and hope to finish it today. If the guy is credible, and I see no reason to doubt it, then we are just wee tiddlers caught in a huge net living an illusion of freedom.

However, the question remains as to how they hope to execute this great taking? Sure, they can point to a bit of paper and say that the car on the drive is in fact ours, not yours, but what then? Where are they going to tow it to and to whom are they going to sell it to realise its value? That can't happen en masse, so what we will receive instead is a bill for its long term rental. BTW, this might lie behind the push for EVs, they can be controlled remotely, as in fact can most modern cars to a certain extent.

Real estate is already covered by property taxes, in effect, you can't live in your house unless you pay the government a tax for the privilege of doing so. The precedent is already established, and as for a central digital currency you can see where that fits right into the scheme.

Ireland might lie down to accept this but other countries won't, the Germans for instance are getting uppity and the French are the French as always. Meanwhile, there are vast swathes of the world which will simply stick two fingers up to any such attempt, although BRICS nations might well come up with their own version of, especially with China at the helm.

The next question is once a half dozen banks own everything, what then?
 
PlunkettsGhost

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Mad as Fish said:
The next question is once a half dozen banks own everything, what then?
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It will be like that Black Mirror episode, where you live in a cube playing games or watching telly all day, or trying to keep your social credit score up. Canada is about to implement UBI. Others will follow. Of course, these payments will all drain into the digital currency sphere eventually.
 
Declan

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Note how the dollar has weakened in the past couple of weeks. And keep in mind it is against dead ducks like the euro and yen. The writing is on the wall.
It also reflects the defeat in ukraine.
 
tldr

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British firm takes over Germany's biggest energy company as BASF sells off a subsidiary.


'LONDON/FRANKFURT/BENGALURU, Dec 21 (Reuters) - Britain's Harbour Energy on Thursday agreed to acquire Wintershall Dea's non-Russian oil and gas assets in a $11.2 billion share and cash deal with co-owners BASF and LetterOne that creates one of the world's biggest independent producers.

London-listed Harbour (HBR.L), the largest British North Sea oil and gas producer, has sought to expand beyond the United Kingdom after the government imposed a windfall tax on the sector following the spike in energy prices in 2022, pushing Harbour into a loss in the first half of this year.

Harbour shares closed 21% higher, while BASF's (BASFn.DE) stock ended the day flat.'

Britain's Harbour Energy strikes $11.2 billion deal for Wintershall Dea assets - Reuters
 
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Declan

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tldr

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Declan said:
This is it in a nutshell. Since 2020 we have added 10 TRILLION.

But also it is now being borrowed at about 4% instead of 1% or less.

I think the average naturity is a ridiculously low 3 years or something.

We may break 34 trillion in the 3 reported days this week or surely next Tuesday will see it reached. It could be a crisis at any moment in January.
Click to expand...

'The markets just shit the bed...

Gold and Swissy are soaring (ultimate safe-havens) along with USTs as the dollar dives.

This looks like some massive capital re-allocation trade away from USDollar and Magnificent 7 Stocks and into safe-havens.'

WTF Just Happened - ZeroHedge


Tuned into CNBC to see what was going on - everything is fine. The growing global economy just needs more Dollars or something. Bitcoin and its miners are booming though. Remember when it was $8 a pop? It's back up to $45,000, not far from its all time highs.
 
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AUL LAD

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Declan said:
Note how the dollar has weakened in the past couple of weeks. And keep in mind it is against dead ducks like the euro and yen. The writing is on the wall.
It also reflects the defeat in ukraine.
Click to expand...
my wife's humble social club called Gaelic for mothers --most have not played for many years but manage to go to Toronto- Porto-warsaw-madrid etc.
all make a living most are public servants and they discuss all the options and have in the past week reluctantly written off the USA as it is no longer affordable or practical-- they have money and most of the kids are finished uni and employed--they are not stupid --this decision is being made worldwide .
when they devalue the dollar to cope it will make everything unaffordable which is currently imported which is almost everything .
the reason for the war against china is the yaun --the yanks need to control the yaun or they are totally fucked.
 
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Myles O'Reilly

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tldr said:
Well, yd said that Myles would explain this. Mr O'Reilly, where for art thou?
Click to expand...
Plunkett was not in a position to offer my services of summary and explanation.

He needed to run it by me first.
 
tldr

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Myles O'Reilly said:
Plunkett was not in a position to offer my services of summary and explanation.

He needed to run it by me first.
Click to expand...

Well, PG did post the follow up video which was helpful - I read the text a while back when I saw it in ZeroHedge comments and was impressed by its coherence. Now I think that it's designed as a trap for the unwary.

If it was true then you'd expect it to be discussed in video blogs like the above (unless there's some omertà attached to it which I think is unlikely in independent financial reporting). I was just wondering if "The Great Taking" had any basis in reality, which is why I asked.

If it is true then there's a whole lot of people who are going to get a wallop of a fright.
 
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