“The more the state "plans" the more difficult planning becomes for the individual.” - Friedrich A. Hayek
“In fact at one time Ponzi king Madoff was the vice-chairman of FINRA predecessor, NASD. Bernie Madoff was one of our top securities regulators!” - Matt Schifrin, Forbes
“It would appear society hired a wolf to be the shepherd [securities regulation during the Madoff years - Est. net pilferage over $10B].” - Rick Rule
“Speculating in crisis markets is the ultimate way to be a contrarian, which means buying when nobody else wants to buy [often politically caused distortions in the market].” - Doug Casey
Western World Central Banks continue to to ensure no free floating fixed income markets exist in Japan - Europe & soon USA Corp to incredible extremes.
Mental Conditioning seems to have been most successful in line with F.A. Hayek as people give up essential freedoms. Loss of principals and heritage.
Medical Institutions no longer hide behind their true paymasters of the state & pharmaceutical cartel. What happened to the “my body my choice crowd?”
Never before in history have governments had the panache to shut down medium / small business’ in the name of force & fraud.
Record new currency creation by all central banks ensued with more concentrated world equity markets - U.S. Technology leading the mania.
Numerous newsletter writers have been calling for a crash in stock last of epic proportions this October 2021.
We share an Austrian School of Economics and see things in line with 'Human Action' [Ludwig von Mises]. While the past mania in US Information Tech securities was taking place some interesting moves in currency, debt and commodity markets were taking place 'beneath the surface' ...
“There are many reasons why insiders sell, but there is only one reason insiders buy: they think the price will rise.” ~ Peter Lynch
1997 - 1998 - Berkshire Hathaway acquired 129.7M ounces of silver warning of financial derivatives.
1998 - Long Term Capital Management collapsed from leveraged foreign debt losses [Asia / Russia].
1999 - Glass Steagall Repeal [1933 Banking Act].
2000 - 2001 - Secular bull market in precious metals commenced.
Volatility in the past 20 years has been incredible. Lesson learned in the resource markets and life:
The 'scientific devaluation' of the 10 year U.S. Treasury by the central banks is better visualized by who see life through more than one country or prices in fiat currencies. [1] As a former broker with a large N.Y. firm I focused on Graham Dodd [2] securities analysis and learned of Austrian School Economics. [3]
The flow of funds back into equities and real estate since the great crash of 2008 is not surprising as the world has experienced a great reflation of the western financial system. [4]
Summary & Opportunity
There is no true free market or capitalism in today's environment. Having said this we may act to best 'ride the wave of change' with our capital and principled lifestyle... It is still possible to be a calculated and efficient contrarian.
The proliferation of credit expansion in the system has resulted in continual changes in aggressive trading in addition to the evolution of what is perceived as 'safety' ..
The ownership of real assets and comprehension of the effects of the size and scope of the fixed income markets is incredible.
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