I finished up yesterday’s essay by claiming we wouldn’t get another crash this year…not in the realm of a 2008 or 2020 anyway. Today, I’ll explain why.
But first, let’s address the elephant in the room. Big Tech censorship.
It happened big time this week after Trump supporters, angry in their belief in a stolen election, ‘stormed’ Capitol Hill. I say ‘stormed’ because based on vision I saw (not on the MSM, of course) gates and doors were opened for them.
Contrasting the scenes last week with the Black Lives Matter riots that engulfed the country for months, it appears that destroying public property for a belief is democracy in action but doing the same on government property is insurrection.
Trump got outplayed by the establishment
In response to last week’s events, they banned him from Twitter and a number of other platforms. Thousands of others copped the same treatment. If you think wrong, you’re gone.
That this happened in the ‘land of the free’ just goes to show what a charade it is. Like the Jeff Bezos-owned Washington Post moniker, ‘Democracy dies in the darkness’, it’s just a slogan. The US is controlled by a political oligarchy that has only grown more powerful via its alliance with the tech giants.
You don’t get to be as big and dominant as Amazon, Apple, Facebook, Twitter, etc if you’re not in bed with the oligarchy.
I mean, just have a look at the board of Apple. It’s got representatives from big pharma, defence contractors, finance…and Al Gore at the helm.
These companies are arms of the national security state apparatus. Don’t be fooled into thinking they are truly private corporations.
That’s why they hated Trump so much. He was an outsider looking to disrupt the club. And now they’ve dealt with him.
Get yourself out of the oligarchical network…
If this makes you genuinely concerned about the direction of freedom of speech, it should. What can you do about it? One of the best things I’ve read recently is from Michael Krieger, who recently returned to the Liberty Blitz blog.
‘There’s no reason to rehash what happened over the last several days, but the gist of it is that significant components of internet infrastructure were weaponized for ideological and political purposes. If we’re being honest with ourselves, we all knew this day was coming. We just didn’t want to admit it or confront it, because it’s not a comforting or easy thing to admit or confront. But the day has arrived and we’re no longer in a position to ignore it. The most concerning aspect isn’t that it happened, but that it could happen at all. The internet is clearly broken, possibly dying, and if we want to digitally associate freely again at some point in the future, we have no choice but to fix it.
‘Most of us eagerly, or more likely lazily, embraced the current insipid and dull paradigm in the name of convenience, low prices, and free shipping, but we never stopped to consider the sacrifices made along the way. We swallowed it whole, became comfortable fat and happy, and now the facade’s about to be slowly stripped away unless we bend the knee to an ever narrowing Overton Window of speech and behavior parameters. It begins with social media purges, but it won’t end there. All the special things we sacrificed from the prior era are gone, yet the consequences are here to stay. We can’t run and hide hoping to be the last one hauled off to the abattoir. It’s time to step up.
‘In this regard, I have a simple suggestion. Cancel Yourself. Unshackle yourself mentally from our suffocating and bland corporate culture while you still have a chance to do it voluntarily. Cancel yourself before they have a chance to cancel you. In this there is power.’
What that means will be different for different people. But I’m sure you get the gist. Get yourself out of the oligarchical network.
I’m sure you might be wondering the same thing about this stock market. But as I explained yesterday, I don’t think holding cash is the answer. Cash is the only thing these lunatics can create more of. They can’t create businesses and real wealth (although they can give sectors a legislative free ride) and they can’t create more gold or bitcoin.
Cash is all they have. Right now, their use of the money printing machine is imperfect. Central banks monetise government debt through the private market. That is, central banks buy government debt from ‘primary dealers’ (privileged banks) and the government sells debt back into the market via these primary dealers.
I say it’s impacted because central banks don’t ‘print money’ to buy the bonds. The create ‘bank reserves’. Banks can’t lend these reserves. They must be deposited back at the Fed.
That won’t stop them though. This year, you’ll hear more about central bank digital currencies (CBDC) and Modern Monetary Theory (MMT).
MMT espouses cutting out the primary dealers, and just have the central bank finance the government directly. And governments will be able to control spending with CBDCs much more effectively.
That’s why you’re unlikely to see a 50%-plus crash in the markets this year. With the current trajectory of idiocy, do you really think cash — unlimited, plentiful cash — is going to increase its purchasing power by 50% against real assets?
It’s not an impossible outcome. But it’s a very low probability. So don’t bet on such an outcome with all your capital.
Editor, The Rum Rebellion