“What Orwell feared were those who would ban books. What Huxley feared was that there would be no reason to ban a book, for there would be no one who wanted to read one.
Orwell feared those who would deprive us of information. Huxley feared those who would give us so much that we would be reduced to passivity and egotism.
Orwell feared that the truth would be concealed from us. Huxley feared the truth would be drowned in a sea of irrelevance.
Orwell feared we would become a captive culture. Huxley feared we would become a trivial culture, preoccupied with some equivalent of the feelies, the orgy porgy, and the centrifugal bumble puppy.
As Huxley remarked in Brave New World Revisited, the civil libertarians and rationalists who are ever on the alert to oppose tyranny “failed to take into account man’s almost infinite appetite for distractions.”
In 1984, Orwell added, people are controlled by inflicting pain. In Brave New World, they are controlled by inflicting pleasure.
In short, Orwell feared that what we fear will ruin us. Huxley feared that our desire will ruin us.”
The UN is a paper tiger. I question the relevance of the UN. It is dominated by Western nations. The UN reflects the class structure within our global society. We know that banksters, executives and politicians getaway with felonies while the average person is constantly found guilty whether a crime has even been committed. The US has the largest prison population in the world and their rates of conviction sit around 93%. Western nations ignore consensus rulings within the UN. It is amazing to see. A poor African nation would be crucified by Western media and politicians if they circumvented a UN panel decision. Take Julian Assange for instance. The UN's Working Group on Arbitrary Detention “considered that Mr. Julian Assange was arbitrarily detained by the Governments of Sweden and the United Kingdom of Great Britain and Northern Ireland”. As you are likely aware, Julian Assange is one of the founders of Wikileaks and has been partially responsible for shining a light on crimes committed by many countries as it pertains to corruption, human rights abuses, war crimes and other types of violations. He has been confined to the Ecuadorian embassy in England since 2012. The complaints issued against him are bogus and have been put in place to send a message to Julian Assange as well as to other whistleblowers. Sweden and the United Kingdom both have stated that they will ignore the ruling and will file an appeal. This is typical in our world of have and have-nots.
The UN Security Council is controlled by the most powerful nations in our world. All it takes is for one nation to veto a resolution issue and the issue at hand is paralyzed. This creates an atmosphere of inaction. The usual outcome results in the death and destruction of a country and their people. The US consistently ignores international laws and norms by pushing military interventions and aggressions on sovereign states. The ruling nations that include the US, Europe and Japan more often than not turn a blind eye to the atrocities that are committed. The average person is becoming aware of the inequity in our world. Even the media is starting to discuss the inequality between the 1% and 99%.
I have commented in previous missives that there is a shift taking place in our world today that involves Russia, China, India, numerous African, South American and Middle Eastern nations. These countries have created an alternative international payment system that competes with the US dominated SWIFT system. The Asian Infrastructure and Investment Bank rivals the IMF and World Bank. China’s silk road initiative will create the biggest economic corridor linking Asia to Europe and possibly beyond. I wonder at what point a new United Nations Institution will be put together by the non-Western nations. The discrimination by the West is blatantly obvious and I look forward to a day when there becomes an even balance of power. Sadly, that day may never come if history is any indication.
My Thoughts on the US Dollar in Relation to the Canadian Dollar
It's interesting to see the reversal in US dollar strength this past week. There are many competing forces at play right now. Numerous hedge funds are betting against the Chinese currency (Yuan) and the Peoples Bank of China has fought off the currency attack by selling dollars to buy Yuan. Near term, this has worked against hedge funds and has helped put downward pressure on the dollar and increase the value of the Yuan. In addition, the consensus is that the US will not increase rates in 2016 and will in fact lower them possibly into negative territory. That was obvious from my perspective because I have always argued that US economic statistics are a fraud. Mainstream forces push the markets based on official statistics, but then overreact in response to changes hence the drop in the dollar. Near term I think you will see minor gyrations up and down, but I don't see how the Canadian dollar can increase substantially against the US dollar given the poor outlook for oil, our contracting economy and the overall indebtedness of consumers, business and our government.
Today’s US Jobs Report
The US Bureau of Labour Statistics reported that 151,000 jobs had been added over the past month. 70% of the job gains went to minimum wage employment. The higher wages were attributed to regulation changes within numerous states that involved increasing the minimum wage. Keep in mind, that the BLS is notorious for revising downwards employment gains.
The War On Savers And The 200 Rulers Of Global Finance - David Stockman
“There has been an economic coup d’état in America and most of the world. We are now ruled by about 200 unelected central bankers, monetary apparatchiks and their minions and megaphones on Wall Street and other financial centres. Unlike Senator Joseph McCarthy, I actually do have a list of their names. They need to be exposed, denounced, ridiculed, rebuked and removed.
The first 30 includes Janet Yellen, William Dudley, the other governors of the Fed and its senior staff. The next 10 includes Jan Hatzius, chief economist of Goldman Sachs, and his counterparts at the other major Wall Street banking houses.” Click to continue reading
Closing In: Russia, Iran, Assad "Encircle" Syria's Largest City As Peace Talks Collapse In Geneva
I have been chronicling the events in the Middle East for years. I have repeatedly highlighted that the US and their vassal states are responsible for the humanitarian catastrophe that is Syria. Syria is just one of numerous Muslim Countries that the West has destabilized. ZeroHedge published an excellent article that provides and update on what is transpiring in Syria. Click to continue reading
The following items I’ve posted on my website this week:
You Should Be Concerned About The World Around You - Jeff Fitchett
I have been investing and monitoring the financial markets for eighteen years. I have watched fads come and go. I have taken many financial courses and have studied portfolio theory. I have listened to countless monetary authorities talk about how solid the fundamentals are when in fact the opposite is true. I have witnessed politicians lie over and over again. I have learned about many major frauds such as Bernie Madoff''s Ponzi Scheme, Long Term Capital Management, Enron, BreX, Arthur Anderson and countless others. I study history and I dedicate time learning about past empires, major world events and our civilization throughout the ages. I have watched freedom and democracy disappear over the last 100 years as crimes against humanity go unpunished, police brutality occurring unchecked, terrorism and civil liberties stripped from us. Over the past nine years I have dedicated a lot of my personal time and energy studying macro-economics, geopolitics and current affairs. I undertook this massive undertaking because I lost faith in the powers that be: politicians, educators, media, corporate executives and other so-called leaders that we have been told to respect and obey. Click to continue reading
The US Controls The European Union - Jeff Fitchett
I have commented frequently that Europe and other Western nations such as Canada, Australia and Japan all follow the lead of the United States of America. There is a joke in Canada that states; when the US sneezes, Canada catches a cold. After all, over 70% of our trade is with the US and their policies impact us directly. On a global scale, the US government dictates and controls the policies of most countries around the world. The US government believes that the US population is exceptional and that they are the rightful rulers of the world today. They have military personnel in 156 countries and have between 700-800 military bases around the world. Click to continue reading
Gold - Willem Middelkoop with Grant Williams
This is an interesting interview. If you are interested in monetary policy, reserve currencies, currencies and debt; you will enjoy this interview. I enjoyed the discussion.
We Are Getting To The End -- Nomi Prins with SGT Report
This is an excellent interview. Nomi Prins' does a great job of explaining the intricacies of our global economy and highlights how she sees things unfolding over the near term. It's worth a watch.
We Are Nearing The End - David Stockman with Greg Hunter
I think this is a worthwhile interview for you to watch. Mr Stockman does an excellent job at explaining his assessment of the world economy. He makes a difficult topic simple to understand and delivers a powerful punch. Click to watch the interview
Helicopter Money Dropping - Jeff Fitchett
The world economy is trapped in a debt bubble that is in the process of popping. Governments are running budget deficits. Corporations are downsizing and laying off hundreds of thousands of employees in an effort to remain viable. Citizens are struggling with their personal debt. The biggest problem with a debt bubble is that each year the amount of debt must increase by an amount that covers off the previous years debt plus interest. When debt levels hit a point where debt growth decreases, income must increase at a rate that will cover off the debt payments. Income comes in the form of taxes for governments, revenue for corporations and actual employment income for individuals.
“When I was a child, everyone was telling me that I was going to see the world through her eyes, and everything was going to get this nice gloss to it. I kept waiting for that to happen, and thought there was a real problem with me that it wasn’t."
When I’m feeling low I always have certain things that I do to pull myself out of the funk. I’m fortunate that I have a lot optimism built into my being, but from time to time I need to recharge. Last night I watched one of my favourite films; ‘One Week’. It is one of my go-to movies I watch to centre myself and regroup. I’m going to leave you with the last quote from the film:
Narrator: “When you get those rare moments of clarity, those flashes when the universe makes sense, you try desperately to hold on to them. They are the life boats for the darker times, when the vastness of it all, the incomprehensible nature of life is completely illusive. So the question becomes, or should have been all a long... What would you do if you knew you only had one day, or one week, or one month to live. What life boat would you grab on to? What secret would you tell? What band would you see? What person would you declare your love to? What wish would you fulfil? What exotic locale would you fly to for coffee? What book would you write?”
All the best!
Jeff Fitchett B.A., FMA, CIM
Analyst - Trivium Analytics Canada