Subject: Mar 16: Armstrong implicitly agreed that the central banks wield much power
From: iamback
Date: Mon, March 16, 2015 4:07 am
To: "Armstrong Economics" <[email protected]>
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Armstrong has implicitly agreed that who ever controls the central bank of an internationally coveted unit-of-account, has the power to cause massive booms and busts amongst the investors who covet that said unit-of-account.
Good to see he has admitted I am correct.
Again he attempts to obfuscate his agreement, by confusing himself with an orthogonal issue. Armstrong has this pattern of conflating orthogonal logic which is indicative of a lower IQ. For example, upthread we caught him claiming that the persistent (throughout all human history) elite banksters are irrelevant in terms of master planning because their names change throughout history. The transfer of power as people die does not refute an orthogonal issue. I thus guess Armstrong's IQ is some where in the 130s only. Whereas as mine is considerably higher (and can't be measured well by traditional IQ tests). (note the link to my blog unheresy.com is currently expired, but I renewed it and you click the link again tomorrow it will be back up as the DNS caches clear)
We don't need to prove whether there is a master plan. We can simply observe that central banking wields much power. And the banksters have always been the beneficiaries of central banking. What the people get in exchange is the ability of fractional reserve banking systems to run for decades without defaults, and instead more egregious collective defaults later. These egregious collective defaults transfer more power and benefits to those who control the central bank.
So we don't need a conspiracy theory in order to open our eyes and not obfuscate the facts.
Moving the world's reserve central bank out of the political control of a single nation and into a power sharing agreement among nations, does not transfer that power to the people. It transfers the power to the oligarchs and banksters in all the nations. This is analogous to how voting Republican or Democrat is voting for two heads of the same monster, a.k.a. the DEEP STATE.
Unlike Armstrong who needs a soap-box to sell his collective vision for pushing a political palatable restructuring and monetary reset, we Knowledge Age producers don't need to say a word. We are every day changing the world as I described. Our leaderless paradigms rises from the grass roots like a virus. And thus our paradigms wins in the end. Armstrong can choose to be informed so he understands when his international capital flows data stops functioning properly in about a decade or so from now, because he won't be able to monitor the anonymous flows of our anonymous crypto-currency.
Armstrong is a baby boomer. They think top-down organization is the way to solve problems and organize society. I am an X-gen. I know that systems self-organize and the top-down is either congruent with the bottom-up, or the top-down fails.
I think this is the end of this debate, unless Armstrong can make a point that isn't conflation of facts with hyperbole.
http://armstrongeconomics.com/2015/03/15/sophistry-confusion-over-the-fed/
Quote from: Armstrong
QUESTION: Mr, Armstrong; There are those [e.g. iamback] who argue that the Fed caused the booms in the developing countries by lowering interest rates that resulted in them borrowing in dollars making the world now short the dollar and thus have enslaved the world to the dollar. Therefore, they claim that whoever controls the central bank of the reserve currency thereby controls the world. Do you think this was intentional?
Thanks. It seems you are the only one without the soap-box.
Hank
ANSWER: Are you really serious? This is the argument from rational people? That is like blaming Switzerland for creating a peg to ensure their exports would not decline so all the German, British, and Greek mortgages in Swiss francs is their fault and intentional. This is pure sophistry at its best delusional. The Fed lowered short-term rates to deal with the US economy not to influence other countries. The fact that other nations issued debt in dollars to save interest is somehow the design or fault of the Fed is brain-dead if not unimaginable. They have no proof of such nonsense. This is clearly conclusionary gibberish to support an unsupported conspiracy theory.
Numerous bond issues were in British pounds that defaulted in 1931 as well as dollars. China issued bonds in foreign currencies to sell them. Here is a 1937 Liberty Bond denominated in $1,000 issued by China back then. This too was somehow inspired by the Fed? Issuing bonds in foreign currencies is standard by third-world nations. The bankers sell this idea to save money and always blow these nations up. Even some of the earliest US currency was issued in British pounds. Here is a note denominated in shillings.
This is the typical sophistry behind conspiracy theories that people make-up to hear themselves pontificate and they assume planned designs rather than accepting that just maybe everything is run by people who have no idea what they are doing.
Blaming the Fed for third-world countries issuing dollar denominated debt is like blaming you for making a right turn and three cars back someone slams into the rear of the car in front of him for he slowed down because you were making the turn.
This is the whole point of a independent reserve currency. When I say that the dollar is the reserve currency and that subjects the world to American domestic policy objectives, that is what I am talking about. The US loses the ability to manage its domestic economy if it has to worry about third-world countries issuing debt in their currency. That means DOMESTIC policies OBJECTIVES can be held hostage to INTERNATIONAL policy OBJECTIVES. That is why we need a reserve currency other than that of any single nation. Blaming the Fed for overseas problems is simply stupid and illustrates that such ideas are totally clueless since they are ignorant of grasping just how the world truly functions.
Thanks. It seems you are the only one without the soap-box.
Hank
ANSWER: Are you really serious? This is the argument from rational people? That is like blaming Switzerland for creating a peg to ensure their exports would not decline so all the German, British, and Greek mortgages in Swiss francs is their fault and intentional. This is pure sophistry at its best delusional. The Fed lowered short-term rates to deal with the US economy not to influence other countries. The fact that other nations issued debt in dollars to save interest is somehow the design or fault of the Fed is brain-dead if not unimaginable. They have no proof of such nonsense. This is clearly conclusionary gibberish to support an unsupported conspiracy theory.
Numerous bond issues were in British pounds that defaulted in 1931 as well as dollars. China issued bonds in foreign currencies to sell them. Here is a 1937 Liberty Bond denominated in $1,000 issued by China back then. This too was somehow inspired by the Fed? Issuing bonds in foreign currencies is standard by third-world nations. The bankers sell this idea to save money and always blow these nations up. Even some of the earliest US currency was issued in British pounds. Here is a note denominated in shillings.
This is the typical sophistry behind conspiracy theories that people make-up to hear themselves pontificate and they assume planned designs rather than accepting that just maybe everything is run by people who have no idea what they are doing.
Blaming the Fed for third-world countries issuing dollar denominated debt is like blaming you for making a right turn and three cars back someone slams into the rear of the car in front of him for he slowed down because you were making the turn.
This is the whole point of a independent reserve currency. When I say that the dollar is the reserve currency and that subjects the world to American domestic policy objectives, that is what I am talking about. The US loses the ability to manage its domestic economy if it has to worry about third-world countries issuing debt in their currency. That means DOMESTIC policies OBJECTIVES can be held hostage to INTERNATIONAL policy OBJECTIVES. That is why we need a reserve currency other than that of any single nation. Blaming the Fed for overseas problems is simply stupid and illustrates that such ideas are totally clueless since they are ignorant of grasping just how the world truly functions.
