Hamilton Versus Jackson, And Bernanke Versus Real Money

I don’t have a working title for this article yet; but given the madness we are witnessing – politically, economically, and socially – I have a few things to “get off my chest” before I get started. That said, everything I’m saying is vitally important, in getting across a message of unsustainability of the current course of events; particularly in financial markets, where reason long ago left the building, in place of unprecedented money printing, market manipulation, and propaganda. Which, I might add, have failed in every instance throughout history where they have been attempted. Only this time, such absurdities have been magnified by the “leverage” of state of the art financial engineering, trading algorithms, and mass communication methods. And thus, the resulting bubbles – and resulting unsustainability – are far larger, yielding the likelihood of a far more spectacular bust than anything yet seen.

Currently, I’m reading a collection of horror novels; which frankly, give me the sense of escape I require to get through the real horror I experience each day, watching the business I’ve spent a lifetime studying destroyed by manipulation; and my high-bred morals spit on by a society that has lost its way. At the moment, I’m reading of an “evil” that takes over human hosts and causes them to commit unspeakable acts; which after it departs, said host cannot remember. Which is how I feel society is slowly morphing, in listening to the lunatic rants of “leaders” that, with each passing day, “lead” us further from what once made us great, and could easily get us there again.

And nowhere are such “rants” more conspicuous than Twitter; which I view as a blight on society, and have written about on numerous occasions. Watching, for example, athletes and entertainers spew unfiltered stupidity about everything from social issues to their own contract negotiations, it’s indisputable that Twitter’s net societal impact is negative. Trust me, as someone who has written publicly for 15 years, I’m well aware of how much damage can be done if one is not careful – more times than not, to oneself. And I’m professionally trained, with a team of editors paid to filter what I haven’t done myself – as opposed to the countless millions putting their unfiltered thoughts out for the world to see.

That said, blogs are one of the great inventions of the 21^st century, enabling an “alternative media” to counter the aforementioned lies, stupidity, and propaganda. Consequently, the internet has become the most empowering force in generations; and those that use it wisely have the ability to learn anything they could possibly require. Not to mention, to identify the handful of “good, smart people” that not only know what they are talking about, but have your best interests at heart. Which, I might add, is what the Miles Franklin Blog is all about.

As opposed to, say, Atlas Shrugged-like lackeys such as Ben Bernanke – whose new blog, undoubtedly “funded” by the government, is as dangerous a monetary propaganda mouthpiece as any I’ve seen; along with Jon Hilsenrath of the Wall Street Journal, Steve Liesman of CNBC, and Paul Krugman of the New York Times. Whilst Fed Chairman, Bernanke was infamous for his inability to communicate coherently – as highlighted by the uncomfortable “pregnant pauses” when telling Ron Paul gold is NOT money, or 60 Minutes that QE does NOT monetize debt. And today, a new Bennie masterpiece, in “following the headlines” with his two cents about the Administration’s latest vote-garnering propaganda campaign – that Alexander Hamilton should be replaced on the ten-dollar bill with a woman.

According to the exalted former Printer-in-Chief, he is “appalled” to hear Hamilton might be “demoted” from the ten dollar bill (can you believe we’re even discussing this?) because Hamilton was “without doubt, the best and more foresighted economic policymaker in U.S. history.”

Really? The best in U.S. history? To that end, can anyone reading this blog – or frankly, anyone other than Hamilton’s direct descendants – tell me a single notable thing Alexander Hamilton, the nation’s first Treasury Secretary, achieved? Other than, of course, being shot to death in a duel with sitting Vice President Aaron Burr in 1804? I’m pretty sure the answer’s “no,” so I’ll tell you what Hamilton’s “famous” for. And the answer…drum roll please…is creating the charter for the nation’s first Central bank, despite vociferous opposition from true patriots like then Secretary of State Thomas Jefferson. Moreover, who does Bernanke suggest as a “replacement” for Hamilton, you ask? None other than Andrew Jackson; who, in Helicopter Ben’s view, would suitably be replaced by just about anyone, as Jackson was “a man of many unattractive qualities, and a poor President.”

Hmmm, let’s start with a comparison of Bennie’s resume with Andrew Jackson’s, for starters. Regarding the former, he studied economics at Harvard and MIT, and taught Keynesian economics for two decades; before joining the Federal Reserve, which eventually promoted him to Chairman; from which post, he printed more money than all other Fed Chairman combined – yielding the weakest, most deformed and distorted global economy in generations; the widest wealth disparity since feudal times; and serial asset bubbles, including the bursting of one his history’s largest, and the creation of the far larger one witnessed today.

As for Jackson, he fought in the Revolutionary War as a teenager – where he was captured and tortured by the British before his 14^th birthday. He then became a lawyer; helped found the state of Tennessee; and served in both the House of Representatives and Senate. Moreover, during the War of 1812, he not only led the U.S. army against the British, but was credited with the war’s decisive victory. As for his Presidency, was he “good” or “poor?” Frankly, I don’t have a clue – as it occurred nearly 200 years ago; after which, no one can objectively claim American was measurably better or worse off as a result. However, even I was aware – well before Bernanke’s idiotic comments – of the one Presidential act Jackson was well known for. Which was…drum roll please…dismantling the Second Bank of the United States (i.e., the 1830s version of the Fed) – because he, like Thomas Jefferson, viewed Central banking as unconstitutional.

And what was the Second Bank of the United States’ charter based on? Yep, you guessed it. That of the First Bank of the United States – as outlined by none other than Alexander Hamilton, based entirely on the Bank of England. In other words, Ben Bernanke, a career academian whose only notable “accomplishment” was printing more money than anyone in history – and in turn, causing the accumulation of more debt and inflation – claims that a man noted only for proposing America’s first Central bank should remain immortalized; whilst a true founding father, Renaissance Man, and champion of real money, should be “demoted.”

Well, I hope you enjoyed that high-spirited tirade. And frankly, if I had more than three pages, I could write a mini-novel about my incredulity of how this morning, just days after the worst racist terrorist act in memory (the Charleston, South Carolina church shootings by a de facto KKK member), the Republicans are bandying the name of South Carolina governor Nikki Haley as a potential Vice Presidential candidate. And this, whilst the Confederate flag still flies “proudly” above her offices in Columbia.

Long time readers know I am largely apolitical – in that I hate them all, aside from a handful of true patriots like Ron Paul. Which is why there is nothing partisan about these comments, other than my incredulity at a party with eight years to mount a charge at Barrack Obama’s soon to be vacated seat – following eight years of unprecedented U.S. political, economic, and social deterioration – on the verge of potentially putting up a Jeb Bush/Nikki Haley ticket. If this is the best they can do, than what I wrote in 2013′s “one party fascism” will be validated in spades. In other words, the Republican Party, which in an increasingly poor nation, can no longer even subtly market itself as the “party of the rich,” is simply throwing in the towel – in joining the Democrats as a single party of political terrorists, taxing, spending, and printing the nation into oblivion.

OK, I have but one page left, as I watch some of the most horrific market manipulation in recorded history – not just of gold and silver, but stocks, bonds, commodities (did anyone see copper rise four cents in one minute late last night?), currencies, and anything not nailed down. And still, it’s not helping one bit, as interest rates continue to inexorably rise – decidedly NOT due to an economic recovery, as evidenced by this morning’s hideous, “unexpected” Durable Goods orders decline – of 1.8% in May, capping the largest 10-month plunge since the heart of the 2008-09 financial crisis; and the weakest PMI Manufacturing Index reading in nearly two years.

Meanwhile, (ECB and PPT aided) European stocks and bonds rocketed skyward in the past 24 hours due to a supposed Greek “deal” which, in actuality, is no more than a bare bones proposal. Which, even if it somehow completed by the negotiating parties by next Tuesday’s hard deadline, must be subsequently ratified by the various constituencies. And even if, miraculously, the Syriza-led Greek Parliament agrees to a new €30-€80 billion bailout – undoubtedly, featuring the very “austerity” terms Greece voted Syriza into power to end – how would that help Europe, the Euro, or the global economy one bit? Moreover, how can the printing of still more unpayable debt be considered “gold negative,” especially when all parties involved know it can’t be repaid? The answer, of course, is that such a “deal,” if it in fact comes to fruition, will only serve to embolden other debt infested countries to abuse the system – knowing full well that in a globally enmeshed fiat monetary Ponzi scheme, all nations have become “too big to fail.” And thus, all nations will be “bailed out” – yielding the exponentially rising debt, inflation, and draconian government decrees that are the principal reasons people have protected their assets with gold and silver for thousands of years running.

Of course, the “icing on the cake” of said Greek lunacy is the propaganda I read yesterday – by no less than German “TBTF” bank Commerzbank, published by head MSM lackey Bloomberg – suggesting Greece may consider selling its gold to repay Troika creditors. And better yet, that such an event, were it to occur, would cause gold prices to decline. Yeah, just like the “IMF” gold sale the Cartel propagandized as “gold negative” for at least five years; before it was finally sold to India and others in late 2009 at $1,040/oz – en route to $1,920 oz less than two years later. And FYI, even if Greece still actually holds the 112 tonnes of gold reserves it claims (if you believe that, I have a bridge in Brooklyn to sell you), it still amounts to a measly €3.5/ billion worth; compared to the proposed “bailout #3″ value alone, of between €30 and €80 billion; and oh yeah, Greece’s existing debt, of roughly €400 billion. Heck, €3.5 billion would barely be enough to repay the €1.5 billion of IMF interest payments Greece defaulted on last week, and the €1.5 billion principal payment owed to the IMF next Tuesday! And trust me, if someone actually offered €3.5 billion worth of unencumbered physical gold in the wholesale market, it would be snapped up by China, India, and a host of others more rapidly than the fastest Cartel algorithms could naked short it.

Well, for the first time in the perhaps 1,000 public pieces I have posted over the last decade-plus, I didn’t have a working title throughout the entirety of the article. That said, in looking back at what I wrote, the title can’t be clearer – as monetarily speaking, Alexander Hamilton represents everything that’s wrong with America; and Andrew Jackson, everything that was once right. Hopefully, you too will realize that the principal cause of America’s ills is the fake money that has destroyed its economy; and slowly but surely, its living standards. And consequently, that you’ll use such priceless knowledge to protect yourself from the inevitable, exponential progression of such trends – to the point that, no matter what “weapons of mass financial destruction” are deployed, “Economic Mother Nature” will exert her inexorable will – be it on stock, bond, or Precious Metal prices.Similar Posts:

• “DEFORMATION” – CONTINUED