The data behind my high level summary assessments.

The reason I like Mish is that he is a data guy.  However, it is also a reason to hate reading his posts because they often contain too much data to want to read without the proper and concise actionable summaries of what the real problems are and what to do about them.  While I can be windy, Mish can be a hurricane by comparison.  Still, his posts are great if your attention span is long enough and if you are aggregating and abstracting his observations as you go.

And so I link you to the latest and greatest example of the windy details at Mish's very recent post while repeating things that I have been writing in this blog since 2010 and for a couple years before that in emails to friends and family:

• The US is running a global debt Ponzi.  It will seem fine until it no longer can and then the trap will be sprung and the trap door will be opened.  This is not an accident.  This was planned.
• The marginal players are worth watching because they are always hit the worst and the first.
• Germany and France ares as much pigs as the PIIGS that they love to act superior to.  The German oligarchs are running a vendor finance scam whose eventual losses (in the form of default by the PIIGS) will be laid on the backs of the German people.  That is when the German people, who are just as gullible as everyone else, will figure out that since they did not know who the Mark und Patsy were in the con (or that any con was running at all...), it was them.
• Gold is money, everything else is not.   The paper currencies of all countries are completely un-backed and thus have an intrinsic value of zero.  Even if governments say something is backed, the real value can only be assessed by how easy they allow conversion to gold.
• How long does it take
• Are there bureaucratic hurdles, paperwork to fill out, etc.
• Are there conditions or limits on the conversion (AKA capital controls)
• Can it be done anonymously
• Can it be done locally or does one have to travel in a car to do it
• Is the backing commodity stored in a credibly transparently audited way or are the foxes left to guard the gold stash
• Eventually there will be a so called global currency crisis AKA global hyperinflation AKA von Misses crackup boom.  This is not negotiable.  It happens because the currency is worth zero and it will revert to its intrinsic value once the confidence of the people in those who are running this global con game fades.
• All of this is going to happen because a money supply made up of fiat currency but especially fractional reserve credit is an immoral theft mechanism which is controlled by those who know how money works to steal the labor from those who do not.  PERIOD.
• The only protection is to hoard gold and silver and guns and ammo and food.  Dollar cost average into stores of these things and you will not want when others who are too stupid, lazy, distracted or ignorant to know that what is coming must come and therefore will come.
• Important: hoard these things over the course of time - not in a panic - only fools panic in the same way that only fools remain completely complacent and without action.
• The impoverishment of nations is not accidental.  It is a carefully planned activity which uses human herding nature - the essence of what we are - as a weapon against us.  It is in fact a crime against humanity of the highest order.  It is treason and tyranny in and of itself which warrants the use of deadly force to reverse if other means cannot.  So saith the founders of the USA and I fully concur with their views because they went through it themselves.  They knew the score.