Excited Delirium

In the US, the race to the porkbarrel has begun .  Companies, lobby groups, consultants and other ‘experts’ are lining up at the trough to stuff themselves with US taxpayer cash.

And you’d better damn well hurry because the Chinese are going to start calling loans and the cash will run out soon!!

Ah, who am I kidding?  Unless you’re a good buddy to Bush or Cheney, forget it.  You’ll be banished to the back of the line.  This is scum at its scummiest and I’m astounded that the entire US population is not boiling in revolution right now.

A lot of people have seen their purchasing power disappear overnight because their currency has eroded very drastically over the last few weeks.  In Canada, the loonie was trading at about par with the US dollar about 2 months ago and now it’s down around the $0.75-$0.78 range.

A lot of people have been scratching their heads trying to figure out why.

And along comes this site which offers a very sound rationale :  there’s a massive debt being called in the derivatives market in the coming weeks and the only way to pay those debts is in US dollars, given that a broad range of commodities are still priced in US currency.

Expect more volatility as contracts wind down or are forced to be wound down.  The time-frame will likely be 3-6 months and the gyrations in the market place will be in the range of several hundreds points per day as cash is generated and dumped into the market by automated trading.

And when the dust settles:  "A new dawn will have arrived and what remains of the old world will have to be transformed to fit the new realities. Basically there is not enough cash on the planet to pay the Piper on this one."

This list almost seems palatable, given the rocky ride being presented to the world’s public.

Here’s a quick recap:

• Close all Banks and Financial institutions now.
• Stop paying taxes.
• Count what’s actually left in the public coffers.
• Put all of it in a central fund for now.
• Sack all Governments Now.
• Disband the Stock Exchange.
• Prohibit speculation on commodities that people need to survive.
• Form Local Community Boards across every country in the World.
• Hold Local elections for membership.
• Setup Local funds for each Local Board.
• Distribute the remaining wealth to the local boards.
• Charge the Local boards with one duty and one only: Serve their electorate. Period.
• Form cooperatives between local Boards to use the resources of each for the benefit of all including transport infrastructure and natural resources.
• Count all the Pennies, Yen, Kroner, Dollars, Yuan, etc etc and burn them all. Form a new monetary system , backed by something solid like Gold or Silver (Wait a minute, they used to do that for 5000 years). Do not under any circumstances depeg the currency from the Gold / Silver backing it. (Nixon, you gangster)
• Now reset the counters to Zero and start again.

This endorsement was offered by the Anchorage Daily News which is, of course, in Sarah Palin’s home state.  Now, I’m sure there are lots of publishers in Arizona endorsing Obama or lots of folks in Illinois endorsing McCain, but this seems very apt for the current state of the election.

That said, let’s see how the election results actually pan out before gloating too much.

This video offered the quote of the day :  letting Paulson, the IMF and other neo-con institutions dictate the terms of bailouts and the new financial order is akin to letting the inmates run the insane asylum.