July 31, 2012 in Finance
In yesterday’s article, I described three types of news sources. I pointed out that each has an agenda that usually conflicts with the others. I explained how I review all of them to find an intersection of information. It is within this intersection that I assume truth resides.
Then, I went through the information presented by all three types regarding the theater shooting in Colorado and showed the likelihood of a conspiracy.
News Predictors (NP) have been forecasting this collapse for years, some in dramatic fashion. The most common scenario goes like this. The value of the dollar suddenly decreases. It goes down so much that a three dollar loaf of bread costs thirty dollars one day, three hundred the next, and three thousand the next.
This sudden hyper-inflation prevents stores from re-stocking their shelves because it is impossible to set prices and collect payment. Therefore, the three-day supply of food in the local grocery stores is quickly consumed, either by those with large amounts of dollars or those with powerful guns.
Most people, who didn’t or couldn’t prepare, run out of food within seven days and the world collapses into martial law.
In this scenario, infrastructure, such at utilities and communications, may collapse too. The cause could be part of martial law enforcement, an overload of the system, or the direct result of the financial situation.
This forecast is repeated in Alternative Media (AM) by those who believe that gold or silver will be tradable as currency when the dollar collapses. Many of these sources, but not all, are nothing more than silver and gold brokers masquerading as AM. They build entire news sites to prove their point of view and create personal and business financial rewards by selling gold and silver.
The same can be said for those who broker currencies such as the Iraqi dinar.
I’m not criticizing them. I’m just pointing out how they work.
It is their agenda.
Mainstream Media (MSM) works the same way.
CNBC, the financial network owned by NBC, generally leans towards a favorable view of the stock market because their advertising dollars come from companies listed on the stock exchanges and stock brokerages.
If their website content is any indication, their editorial staff subscribes to the theory that The Fed’s printing of money is the key to the stock market numbers becoming bigger and bigger. They seldom report on the consequences of more dollars in circulations.
Therefore, I was surprised when this story appeared on their website late last week.
It carefully explains that fiat currencies such as the euro and dollar are tenuous. It tries to balance this point of view with a quote by one “expert” who says, “if there was going to be a melt-down, it would have happened by now.”
However, the position of the piece is clear. It concludes by saying, “Every single fiat currency in history has collapsed, this time will be no different.”
As I said yesterday, when MSM releases a story that contradicts their agenda, it is important to look at the dateline to see if the release was timed to reduce the impact of the story.
This story was released at 5:27 AM on Friday, July 27. This was early enough to be used on morning newscasts. However, negative financial stories are often released on Friday so that any impact on the market may decrease over the weekend. In addition, the Opening Ceremony for the Olympic Games was less than twelve hours away.
If the intent was to reduce the story’s impact, mission accomplished.
I didn’t notice the story until late Saturday, almost thirty-six hours later. Most of my fellow news watchers didn’t mention the story until yesterday.
It appears the impending financial collapse story is becoming too big for MSM to ignore. This morning’s headlines includes a trio of stories that hint at the scenario NP and AM has been discussing.
Corn and soybean prices are skyrocketing due to the drought. (This link may change as the story updates.)
More than six hundred million people are without electricity in India due to a failing of the power grid. This story has little to do with the collapse of fiat currencies. However, it does show how tenuous infrastructure can be. For perspective, what is happening in India is comparable to the entire United States being without power…times two.
As the intersection of information between MSM, AM, and NP becomes larger each day. It appears this financial collapse story has a lot of truth.
Tomorrow, I’ll apply this process to yet another story.