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We have a modest proposal to the Bank of International Settlements, aka the "central banks' central bank": the next time you feel like warning the general public about monetary Kool-Aid such as:
"low volatility everywhere" or that asset prices are at "elevated" levels
... as you did just 6 weeks ago, or that:
"it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally", that "despite the euphoria in financial markets, investment remains weak. Instead of adding to productive capacity, large firms prefer to buy back shares or engage in mergers and acquisitions" and that "the temptation to go for shortcuts is simply too strong, even if these shortcuts lead nowhere"
... as you cautioned in June 2014, or, best of all, musing whether:
"central banks [can] now really do “whatever it takes”? As each day goes by, it seems less and less likely... [seven] years have passed since the eruption of the global financial crisis, yet robust, self-sustaining, well balanced growth still eludes the global economy"
... as you said in June 2013, perhaps you should discuss these asset-bubble, complacency, volatility-crushing, impotent-central banking concerns with its Board of Directors first?
Although the greenback surged again to 0.9663 in NY morning, the subsequent retreat suggests consolidation would be seen and pullback to 0.9600 and possibly 0.9580 cannot be ruled out, however, reckon yesterday's low at 0.9544 would contain downside and bring another upmove later, above said intra-day resistance would extend gain
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Although cable has remained under pressure and near term downside risk remains for the fall from 1.6184 to extend weakness to 1.5920-22 (50% projection of 1.6183-1.5951 measuring from 1.6039), loss of downward momentum should prevent sharp fall below 1.5895-00 (61.8% projection) and bring rebound later. Above 1.6010-15 would bring recovery
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Euro's intra-day breach of support at 1.2501 confirms recent decline has resumed and further weakness to 1.2470 would be seen, however, loss of near term downward momentum should prevent sharp fall below 1.2450 today, risk from there has increased for a corrective rebound to take place soon, above the Kijun-Sen
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As the greenback has continued to surged after resuming medium term uptrend, bullishness remains for further gain to 112.50-60 would be seen, however, overbought condition should prevent sharp move beyond 112.75-80 and reckon 113.00 would hold from here, risk from there has increased for a minor correction, below the Tenkan-Sen
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The S&P hits a record high thank to a few hundred billion in more money printing by a central bank, and guess who pops up to take credit for the market, pardon, the economy?
This guy.
As the single currency has fallen again after brief recovery, suggesting the decline from 0.8047 is still in progress and near term downside risk remains for weakness to 0.7815-20, however, as long as recent low at 0.7766 holds, prospect of another rebound remains, above this week's high at 0.7913 would
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Current rally signals the wave iv correction from 1.1386 has ended at 1.1122 earlier this week and upside bias is seen for a retest of this recent high, however, break of this wave iii top is needed to confirm upmove has resumed in wave v for the rise from 1.0660
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Submitted by The Dissident Dad via Mike Krieger's Liberty Blitzkrieg blog,
Remember those weird kids who didn’t say the Pledge of Allegiance in school? They either sat down or just stood up silently. I sure do. Most likely for religious reasons, but I remember thinking to myself as a kid that it was wrong not to say the pledge aloud with the rest of us. As I got older in my teenage years, I even felt that those kids were not being respectful.
Some adults may even give them the old, “well, if you don’t like it then you can leave” routine that is mentioned every time a minority opts out of the majority’s way of doing things.
Homeschooling my children will really make this a non-issue; however, my nieces were reciting the American Pledge of Allegiance the other day while playing with my children. In fact, here in Texas the kids recite both the American and Texas Pledge of Allegiance before class.
After hearing them recite it, and of course remembering the 2,500 or so times I said it in my lifetime, I started to think about the purpose and real meaning of this pledge that millions of school-aged children recite every morning Monday through Friday.
A pledge, of course, is a vow, an oath, or a commitment. Allegiance is defined as loyalty, devotion, and obedience. In fact, the antonyms for allegiance are treachery and disloyalty.
Crazy when you think about it, right? Do we really want our kids pledging obedience and loyalty to the U.S. federal government? Especially when the pledge itself is masked with a lie. I mean, it ends with, “with liberty and justice for all.” Now that’s a crock of shit right there. Not one arrest in the financial sector for the 2008 crisis, not one investigation into the 2003 Iraq invasion where no WMDs were found, and a complete cover-up of the events on 9/11, i.e., Building 7. Liberty and justice for all… how about we ask Edward Snowden about that? His patriotic actions were described as treachery and disloyalty.
Nationalism and blind patriotism is crucial in keeping a population dumbed-down and ignorant , which is why if you think about it, pledging allegiance to the government we have today is truly a backwards thing to do. Teaching it to a small child is particularly degrading.
As a dad who is proud of my own liberty, this makes life tough sometimes. Do I teach my kids the truth or go with the flow?
On the surface it seems black and white, but it’s not. Teaching your children about certain truths that make them the odd kid out is not exactly what a parent wants for their child. My wife and I are constantly turning to each other and asking ourselves, should we make a stand on this? Because if we do, it might make it hard for the kids.
A great example comes from a friend of mine with an 11-year-old son who stood up on 9/11 at school and countered the teacher’s lesson for the anniversary and told her about the Loose Change version. It was awkward to say the least. To simply question the events of 9/11 go against the state’s religion of nationalism, so for an 11-year-old boy to bring it up in a classroom…you can imagine the trouble it caused.
Teaching my children about the oligarchs and the current state of our leaders in government is not something that I take lightly. I realize that some of our core values, like the belief in liberty, respect for all life, and individual sovereignty will make them the odd kid out sometimes.
Being surrounded by people who have been taught, just as I was, to pledge allegiance to the state, is the unfortunate reality we are all confronted with. something that is so deeply engrained that the best I can do is teach my children to think for themselves and decide on their own. Figuring out how to best teach my children the danger of such blind allegiance is without a doubt the most difficult task I face as a father.
