The EndThe biggest flaw in Trader Dan Norcini as well as many other analysts who believe that the markets ARE NOT RIGGED, is that they fail to understand the global energy situation.    The value of most STOCKS, BONDS and PAPER ASSETS are derived from a growing economy, which is based on a growing energy supply.
As the global oil supply peaks and declines, the value of most paper assets will decline.
The only way to protect wealth at this time will be in physical assets such as GOLD & SILVERIt was the SIPHONING of investor funds into paper assets such as derivatives, options, stocks  and bonds that caused the REAL MANIPULATION of the precious metals market.

Peak Oil will destroy gold and silver manipulation by DEFAULT.


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The U.S. Shale Energy Industry is heading for big trouble and very few Americans realize it.  Not only will the peak and decline of U.S. shale oil and gas production spell disaster for the U.S. economy, it will also be one of the factors responsible for ending precious metals manipulation.

The only way the Fed and Central Banks can continue propping up their fiat currencies is with massive monetary printing and bond purchases.  While this tactic keeps the system together, it does so by adding debt on top of more debt.  This debt can only be settled by a growing economy.

Unfortunately, the world is currently experiencing a plateau in global oil production.  Without continued growth of the world’s oil supply, the massive government debt (which backs the global fiat currencies) becomes a real nightmare.

Furthermore, when the world’s oil supply finally starts to decline, global GDP growth will turn south right along with it.  Which means, the Fed and Central Banks will lose the ability to control the huge debt-based fiat currency system.

Thus, precious metal manipulation ends by default.

The Increase In U.S. Shale Energy Decline Rates Spells Big Trouble Ahead

As the MSM continues to call for U.S. Energy Independence (even though the IEA recently released a new report now forecasting a decline of North American Oil Supply), the situation in the country’s shale energy industry takes a step for the worse as decline rates increase in a big way.

Since I wrote my article, The Coming Bust Of The Great Bakken Oil Field, the decline rates at the Bakken, Eagle Ford and Marcellus increased substantially.

When the EIA – U.S. Energy Information Agency released their November, 2013 Productivity Report, the forecasted decline rate for the Bakken field in the month of December was 63,000 barrels per day (bd).  Each month, the EIA puts out a new report showing how much new production and the legacy decline rate from each shale oil and gas field.

Well…. let’s say, they report most of the fields.  The EIA omits the Barnett shale gas field data because its peak and decline doesn’t paint a pretty picture for the rest of the bunch.

The Bakken’s decline rate increased from a 63,000 bd in December, 2013 to an estimated 72,000 bd in July:

Bakken DEC 2013 to JUL 2014 change

Basically, the term “legacy oil production change”, means the decline of oil production from existing wells.  This is estimated on a monthly basis and shown in “barrels per day.”  So, the Bakken is now forecasted to lose 72,000 barrels per day from its existing oil wells in July, up from 63,000 in December, 2013.

This is a 14% increase in the decline rate in just seven months.  If you think that’s high, take a look at how bad the situation is at the Eagle Ford shale oil field in Texas.

Eagle Ford DEC 2013 to JUL 2014 change

While the Bakken’s decline rate increased 9,000 bd in seven months, the Eagle Ford jumped up a staggering 31,000 bd (83,000 bd to 114,000 bd).  Thus, the Eagle Ford decline rate increased nearly three times as much as the Bakken at 37% during the same time period.

So how do these decline rates impact new monthly production?  If we take a look at the next chart, we can see that the Bakken’s legacy decline rate increased from 71% of new production in Dec, 2013 to an estimated 78% in July.

Bakken Decline Rate Change

When the Bakken produced 89,000 bd of new production in Dec, 2013, the 63,000 bd decline rate was 71% of this total.  The EIA estimates the decline rate in July at 72,000 bd, which is now 78% of the 92,000 bd of new production.

We must remember, as the decline rate continues to increase each month, the companies drilling in the Bakken have to ramp up production even more, or the field will peak and decline.

This is the trouble the energy companies are faced with drilling in the Eagle Ford.  In just seven months, the legacy decline rate at the Eagle Ford increased from 71% in Dec, 2013 to a forecasted 83% in July.

Eagle Ford Decline Rate Change

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What a difference… aye?  In Dec, 2013 the Eagle Ford only had to add 83,000 bd of new production to remain flat, however they now need to add 114,000 bd to keep production from declining.

At some point, the decline rate will edge closer to that 100% mark, which means the field will peak and decline shortly after.

The Decline Rate At The Mighty Marcellus Shale Gas Field Nearly Doubles

If it wasn’t for the Mighty Marcellus shale gas field, overall natural gas production in the United States would be declining.  Looking at the data during the same time period (Dec 2013- Jul 2014), the Marcellus decline rate shot up from 31% to 58%… in just a mere seven months.

Marcellus Decline Rate Change

Back in Dec 2013, the Marcellus added 593 (mcf) million cubic feet per day of new natural gas production and suffered a decline rate from existing wells of 182 mcf with a net change of 411 mcf per day.  This was a large amount of net new production at a 31% monthly decline rate.

However, in just a little more than half a year, the Marcellus legacy change  (decline rate) is forecasted to increase to 383 mcf or 58% of new production (663 mcf), providing a net addition of 280 mcf per day for the month of July.  Actually the decline rate more than doubled if we just consider the change from 182 mcf to 383 mcf.

While there’s a lot of natural gas in the Marcellus, it will peak and decline at some point.  Furthermore, very few energy companies are making money producing shale gas at the current market price of $4.50.

And then we have this article by the Guardian, U.S. Shale Boom Is Over, Energy Revolution Needed To Avert Blackouts:

Global energy watchdog confirms ‘the party’s over’ – lowers US production projections, demands urgent investment

But the IEA’s latest assessment has proved the detractors right all along. The agency’s World Energy Investment Outlook released this week says that US tight oil production – which draws largely from the Bakken in North Dakota and the Eagle Ford in Texas – will peak around 2020 before declining.

The new analysis puts an end to the ‘100 year supply‘ myth widely promulgated by industry, and moves closer to the more sceptical assessment of a US tight oil peak within this decade.

Now IEA chief economist Fatih Birol says:

“In Europe we are facing the risk of the lights going off. This is not a joke.”

We need $48 trillion of new investment to keep the lights on – and it’s far from clear that investing in increasingly expensive unconventional oil and gas is going to cut it, without serious impacts on the global economy.

Several of the energy analysts that I pay attention to (Bill Powers, David Hughes & Art Berman) believe the peak of the Bakken and Eagle Ford may occur sooner than 2020…. possibly within the next year or two.  It really depends on the price of a barrel of oil.

If the U.S. and global economies fall into a bad recession-depression in the next few years, the price of oil will more than likely decline significantly.  This will destroy the ability for the shale oil and gas companies (as well as the other high cost unconventional oil sources) to continue drilling.  Once drilling stops, production falls off a cliff.

In addition, the major oil companies are already cutting back on CAPEX spending as well as selling assets to remain profitable.  The major oil companies now realize that increasing production is impossible as the oil price is not high enough to justify the added expense.

Basically, the world cannot afford expensive oil… which means the major oil companies cannot increase investment.  Without the needed investment, peak oil comes sooner than later

Peak Oil Will Destroy Precious Metal Manipulation By Default

The precious metal community receives a lot of heat from analysts on the subject of gold and silver manipulation.  For example, Trader Dan Norcini doesn’t believe the gold and silver market is manipulated… especially over a long period of time.

While Trader Dan and many of his fellow bloggers on his site poke fun at the precious metal bugs who believe in gold and silver manipulation, the truth is…. it doesn’t really matter at all.

You see the biggest flaw in Trader Dan as well as many other analysts who believe that the markets ARE NOT RIGGED, is that they fail to understand the global energy situation.  As I have stated many times, the value of most STOCKS, BONDS and PAPER ASSETS are derived from a growing economy, which is based on a growing energy supply.

As the global oil supply peaks and declines, the value of most paper assets will decline.  The only way to protect wealth at this time will be in physical assets such as GOLD & SILVER.  It was the SIPHONING of investor funds into paper assets such as derivatives, options, stocks  and bonds that caused the REAL MANIPULATION of the precious metals market.

Peak Oil will destroy gold and silver manipulation by DEFAULT.



  1. Is there anyone out there reading this that doesn’t get it?  If so, then re-read this article slowly.  If you are still in doubt, then you may want to consult a MEDIUM.  You know, those folks who talk with the dead, because no LIVE person will be able to make you see the light….

    • Its worse than that CD. If you point out the facts over there, he either censors your comment or his little crew goes nuts on you and they try to paint you as a “conspiracy nut”. That blog is a joke when it comes to PM’s.

    • We are exploiting maybe 10% of the shale deposits in the USA, but theses decline rates and already bad EROI of the fracking process will not add too many years of oil production in this country. We need to restart the offshore drilling that “O” killed if we want to stay on the black gold binge. But I’d rather see the Overunity/Free Energy stuff come into it’s own. 😀

    • undeRGRound … “I’d rather see the Overunity/Free Energy stuff come into it’s own.”
      I would too, but do you actually know of anyone using one of these devises in their daily life? I don’t, and until I find folks who’ve integrated the things into their routine needs, I’m more inclined to learn about rudimentary battery construction with commonly available components.

  2. Statics don’t lie …. unfortunately they only tell you what they tell you (meaning they can lie IF you phrase the input parameters correctly). Yes, the well production is dropping ,,, it always does and one day they will all be dry, but before than happens these well will be “worked over” and refraced. In the end they will have a very long life producing at stripper levels for perhaps 40 years or more. The end effect is that total production will plateau and be maintained as long as there are drillable locations at the current rig utilization rate.

  3. Ultimately the Markets are much more powerful than the central banks it’s just that it’s so disruptive and timing is impossible to predict” – Ron Paul
    (in regards to PM action)
    This is a world of difference between being interfering with futures and smothering a world market. We are still rattling the effects of a “baby” 500 million paper gold short cover (probably) which is NOTHING compared to the world trade market as whole.
    It was the SIPHONING of investor funds into paper assets such as derivatives, options, stocks and bonds that caused the REAL MANIPULATION of the precious metals market”.
    Our sector GROSSLY underestimated world wage deflation that continues to not budge. Big business have a better deal than slave labor in my opinion, thus they have no inflation to hedge. Food inflation doesn’t concern them and commodities remain tame. They can continue to sink money velocity as long as the yuan remains pegged and with billions of people willing to their ass off for $1 a month. Without this, there would be no purpose to drive fiat into equities as they are. Manipulation of the purchasing power of the dollar has remained far too strong for far too long. 
    I guess Dan is not a purist since he didn’t fall in love with PM or doesn’t break a conspiracy theory to explain action daily. If we have to wait for PM rise in a basket of hard assets like 2000-2010 (as this article indicates) then we are really are in it for the long haul. 

    • “Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. “Stand and Deliver or Go Home” should be the rallying cry of the gold longs to the paper gold shorts.” –Trader Dan Norcini
      That quote has been on Sinclair’s site for years.Truth of the matter is the the paper gold shorts (bullion banks) know they will never have to deliver. The COMEX and PM futures market is a fraud ridden charade.

    • @bayofpigs  THANK YOU for providing that quote…all of the rah rah cheerleaders on this site have lost how much reading the perma bulls?  Dan calls it as he sees it, imho, and he is one of the few that I still actually read with interest and not for poops and giggles…to each his own.  You guys stay on KWN and read the same old shit from Ergon whomever, Spott who sold out of his silver in HIS OWN fund before it cratered and then still pumps it, Embry who works for Sprott, etc.
      As I have posted many times here, go back and read the archives on KWN…these same pumpers have been saying the same thing for years, gold to $5,000 🙂   Fundamentally, they seem on point but remember “the market can stay irrational longer than you can stay solvent”…hedgies and big $$$ (Fed) run all mkts and when they decide to rotate out of an “asset” class, it is going to crater!  They just print more FRN to cover their margin calls/losses but you and I cannot.
      Not trying to be a downer, just a realist.

    • What? I’m not sticking up for Trader Dan at all. I think his blog stinks and is full of retarded assholes and clowns. You missed the point altogether.

    • then you made a salient point without even trying…I totally got your ending in bold (duh) I was trying to point out that his answer is the only way to stop the CRIMEX madness, make it a physical market and then the 1,000’s of contracts dumped in the middle of the night would have to stop…not that it will ever happen (as you point out).
      To each his own, I just think it is funny that some here get overly emotional if a blogger doesn’t agree with their thought process then “the blog stinks, full of retarded assholes and clowns”…usually the one calling names is the one who fits the names called 🙂 and not the other way around.

      You don’t see me calling the bloggers that I mention names and cursing at them, I just point out that they have been saying the same thing over and over for years…if you don’t agree with his blog then don’t go! That is what I do with KWN, Turd, etc. unless I am in need of a comic relief.

    • Nice try. Many of the posters over there are old disgruntled Turdites like DPH and well known gold bashers like Kid Dynamite, a well known troll over at ZH. Ive seen Trader Dan censor comments so you dont need to tell me who the thin skinned people are. They cant handle the truth over there, so be it. GATA has compiled a massive amount of evidence over the past 15 years, so please spare me how long people have been pointing this manipulation and price rigging out. It goes back decades.

    • Not sure what I am “trying”!

      I totally believe ALL markets are manipulated and have been since the inception of the President’s Working Group on Financial Markets back in 1988, if not before, on that we agree 😉
      I actually don’t read the comments on Dan’s site but I believe you that he censor’s, damn near all sites censor these days (I have been kicked off of more than one), and you don’t have to inform me of GATA…I have been a supporter since 2004 and have been getting Ed’s daily since it’s inception.  Not to mention the Casey pub’s, 5 Minute Forecast, Daily Dispatch, early Apogee (b4 it was a paid sub), etc. kinda ticked me off when they quit e-mailing the 5 so I now have to go and check to see if it has been uploaded vs having it in my inbox.  Miller’s Money, Daily Pfenning, are a couple more that I get daily…if it is free you can bet I get it or have gotten it in the past and decided it was not worth my time.
       I am fairly well informed when it comes to the markets seeing that I was an oil & gas trader for the first 10 years of my professional life, got caught up in the big consolidation (Exxon-Mobil, Conoco-Phillips, BP-Amoco, etc) and did not want to move to Houston to work for Enron or open a new derivative only shop (I mostly traded phyzz) for Dreyfuss (well b4 most of you guys had even heard of derivatives) so I stayed here and went into real estate…damn near just as cyclical but I work for a MAJOR, world-wide leader in brokerage and RE services so the ups and downs don’t affect us much since we are just the middle men. My buddy at Enron was the one who explained the entire manipulation game that they played to me one night during a bridge game on a boondoggle in the Catskills on the way to AIG’s private golf course (Morefar).

      Then stumbled into the PM fray over 10 years ago while trading oil on my own futures account, my broker turned me onto the early stages of the bull mkt, so take that for what you will.

      I am not full of “sudden expertism” as some seem to be on a lot of these types of sites, I have lived it for over 2 decades.

  4. i give up, the manipulation will NEVER end i just read we had the WORST quarter economically in 5 YEARS ! and what happens ? silver and gold basically stay flat or down, nasdaq, dow go UP !! now i think even a small child in say 6th grade could tell you that looks like manipulation…. oh ya also cant wait till the silver price fix ends  lol ! my personl belief is it WILL GET WORSE… you think the powers that be will just give up on the price fix ?  no way….. i keep stacking, and am fairly new to it  since october lasdt year (2013 ) , and its getting hard for me to see the sense it makes ?  i am not making gains , well small very small….  i dont know what to do, oh well good luck to all   🙂

    • The London Silver and Gold Fixing mechanism is only really useful for those who were rigging derivatives.
      The London Fix ending will change nothing with the Paper manipulation. They will still have to dump the same amount of paper on the market to get the same effect in price manipulation, the only difference is that the 3 TBTF banks that used their control over the starting gun to make a bit on the side have been scared off by the regulatory fines imposed for getting caught … I guess the game is up in the PM’s derivatives that these TBTF thought they could continue to fleece their muppet customers with; It’s a used car lot that nobody wants to deal with anymore … except hardened muppets.
      The only thing that matters is that the Physical Product is still flowing out of the US and especially London at a greater rate than it could ever be replenished, and if Oil prices go up (when they do) and when inflation kicks in in the supplier countries the cost of the replenishment keeps rising and will have to be reflected in the price.
      During the coming crisis watch for Government intervention, confiscation and dodgy market freezing where special people get special trading privileges whilst the average customer is locked out (just like MF global, ‘special’ people got prior knowledge and privilege). Governments are the only thing at the end of the day that will be dangerous for Physical holders … Governments are the end game enemy of so called PM ‘hoarders’, but of course if you are an equity ‘hoarder’ then you are a member of the new national religion in good standing with the Equity Church. Anyone stupid enough to hold ‘allocated’ PM’s accounts in this day and age deserves to be robbed IMO.

  5. Personally, I really don’t give a rat’s royal red arse about what Trader Dan or any of his sycophants think, want, or do.  They are on their own path, just as we are on ours.  The fact that ours is correct and theirs is not escapes them.  But, that IS their problem and not ours.  I am happy that they are not stacking a lot of PMs.  We don’t need more competitors in the market, bidding up the prices.  No, we just need to continue stacking as we can and buying any significant dips that come along.  When the SHTF, however, it will be they who are among the most surprised out there.  When someone runs up to us waving their arms in the air and shouting, “The crap is hitting the fan!”, we will look at them and say, “Yeah.  So?”… as in we have seen this coming for a long time and are ready for it.  Most have not seen it coming and will not be ready for it when it does.

    • That’s pretty arrogant Ed_B, “they” have been right much more than most here on this site (that I have read over the last few months)…doesn’t really matter who is “right”, it matters who is still standing when the markets finally come back to some sort of reality (if ever)…sycophants can be looked at both ways but I agree with your “They are on their own path, just as we are on ours” thought so to each his own.  I just hate to see real people get sucked in to people making outrageous claims trying to sell newsletters vs actually posting what they think (Dan’s is free” but is the Turd’s still free or Teddy Butler’s??? to name a couple that used to post on free sites that saw they could profit by opening a paid site).  They are just profiting off of “your” insecurities and hopium by posting what you want to hear.  Name me the last time Turd posted anything that was close to being spot on…he even backed off of his predictions lately and started with the “by the end of the year” versus timing because he was always wrong…same with Sinclair, Turk, and all of the rest of the pumpers.  I think they will be right, at some point, but that point is not right now.
      again, if YOU are comfortable with your path then by all means stay the course but I wouldn’t try to trade this with leverage because you would all be bankrupt.
      Nothing personal with the you’s, just using the “royal you” meaning all of the like minded thinkers here that get off by staying within the same vicious circle and posting to each other to make everyone feel better with their losing positions and remember all of these pumpers are selling something…Sprott/Embry have their funds, Turd/Butler their paid sites, and most of the rest are associated with PM SELLERS so they have a vested interest in keeping the buyers pumped up….BTFD has not been a good policy for years now, never really was but the amazing 12 year bull run made everyone a little lax and it came back to bite most.

      I know, I have heard all of the thoughts…we are stacking and not trading, I am happy with my $40 silver, I will never sell my phyzz, etc.

      Good luck to all! And I really mean that because I think most here have good ideas, just are little jumpy about being afraid that they will miss the boat. If PM’s go up like they say, a couple of dollars will mean nothing but if they don’t a couple of dollar loss on volume will leave a mark. I also agree that he downside is somewhat limited but until the boyz lose control, it is still in play over and over…run it to $21 (bull trap) then pull the plug, rinse and repeat…what I have heard Dan say is until the PM’s break out of this year+ long range, it is fruitless to try and trade it (remember, he is TRADER Dan and not PM investor no matter what Dan and he has been trading commodities longer than most have been out of diapers…so maybe the key is different goals???

    • Confidence is often confused with arrogance.  Be that as it may, I was voicing a personal opinion.  Others are free to accept, reject, or form their own opinions, of course, but that is mine.  If I am not a fan of this or that person, so what?  Fact is, I am a fan of VERY few people in the PM arena.  I most definitely am not a trader or even an investor, as far as PMs go.  PMs amount to about 8% of my portfolio.  I am raising that amount and hope to be around 10% by year’s end.  I have invested in the stock and bond markets, making more than enough to retire 9+ years ago at age 55.  So, yes, I am extremely comfortable with my path.  If I wasn’t, I would find a better one.  🙂

    • Trader Dan is not in for the Long Game, and when the music stops we will all be like ‘Dan who? Trader what?’
      That day is closer than paper pushers could ever predict. Nobody’s wearing me down, I refuse to be a muppet.
      Only the long game counts in the world of fiat … Dan is just another Clown in the last act at the Circus.

    • Trader Dan has been in the game longer than most have (or at least I have and I have been in it 20 years) so I am not sure what you mean by that but I am tired of taking up for him because I have never met him nor spoken with him personally but still feel he posts what he actually thinks and sees vs what will rile up the masses and sell newsletters…but to each his own.  If we were not all different, this would be a boring place 😉

  6. Without siding one way or the other, I do know that governments have been ‘projecting’ only ‘a few decades’ of economically viable oil availability since gasoline was first developed. One thing Mr. St.Angelo propounds undeniably, is that energy is pivotal to competitiveness … at all levels.

    Monopoly industrialists manipulate energy to suppress competitors and governments use energy cost to suppress independence among Peoples, so they collude. That’s been true since the sources of energy were water-ways, wood, peat and whale-oil.

    • Precisely. Also on the international stage, with the Big fish, if Russia had no Energy would it be a problem nation? no. Those who hold the Energy in today’s day are holding all the cards, everyone else is holding treasury bonds and begging. The only cards the US is now holding is a standing army, navy and air force and military equipment that gets older by the day, and every other country is calling our bluff.
      Shale Oil and Gas is just a fit gap solution for US energy whilst NY and London banks try to wear down other countries’ internal economies by holding the world economic fiat systems hostage with bogus ‘liquidity’ problems that only exist because of legacy structures like the IMF and BIS.
      London and New York banks may have been able to loot Russia of liquidity in the 1990’s but they could not take the Energy Resources that were in the ground with them … and it is coming back to haunt them now big time!

  7. WillNotBeASlave
    Since 9-11 we have over $12 trillion in new hard debt that is more toxic on a daily basis.  All the major GDP know that.   Bin Laden said he would bankrupt us and that prediction had legs.   Our military is worn down, not nearly ready for another war.  The blue water navy and nuclear arsenal are large but Russia likely has more nukes than us.  We have ringed Russia with nuclear bases.  Putin knows this and also knows he has the power the his bully pulpit as well as energy resources. He even has the moral high ground in some matters, mostly directed at the arrogance and hubris of the USSA.  Putin also knows we don’t have a lot of assets to put to the test except the nuclear ones if Russia’s sanction threats are unleashed to both protect their weak positions and territories.  Putin is not omnipotent but is playing a really good of cards.
    He can play the waiting game as we flail around looking for more enemies. We’re making them for free and that is completely moronin.  We’ve already made plenty. They’re looking for an excuse to leave the PetroFiat  paradigm for another paper scheme. As Pat Fields says, that is ridiculous but even an alternate Fiat paradigm would be prefereable to one that does not have a delusional giant with zero assets and less than zero credibility to back it up.  Vlad’s a chess master and sees nearly all the moves. He is also ajudo master and is using the weight, movement and incompetence of his opponents to his advantage, letting them do the heavy lifting of hard falls and joint locks.  I’m no admirer of Putin any more than I admire the Bush clan. His moves are interesting to watch nonetheless. 
    The pimpstick in the oval office is imploding into a morass of utter ineptitude, making him extremely dangerous.  
    He’s also gone FULL RETARD into the neocon camp. They need more wars and more banking to back up their own delusions of world domination while fattening their wallets. War is a racket. So is banking.  
    This what happens when we elect a penny ante grifter to high office.  They don’t improve in office any  more than cheap wine gets better.  Vinegar is not wine, no matter how much you hope it changes into something drinkable.
    Cheers to all who opine here. 
    We must all hang together or we will surely hang separately.  
    We may disagree on the why’s and whatfor’s of silver and gold but there’s a forest full of bears that mean us harm.  

    • Gotta remember Putin lead and was fully trained by the KGB, which includes training by the world’s best chess masters, so he is just laughing at our ridiculousness and is usually at least 2-3 move ahead in the game.  Never forget that!  They have all read The Art of War, except maybe Obama, and had most of the normalized training but Putin has been groomed to lead for at least a decade and I mean lead them back to prosperity and not trained as out President was in community organizing.  I am not taking up for any of the Bush’s, Clinton, or even Reagan since I believe they all serve the same masters, even Putin seems to have a soft spot for the IMF???
      The key is that it takes all kinds to blend into a community and “we” do need to stand together so let’s KICK SOME ASS!

    • >>>As Pat Fields says, that is ridiculous but even an alternate Fiat paradigm would be prefereable to one that does not have a delusional giant with zero assets and less than zero credibility to back it up.
      Sadly I believe you are correct, but in some ways a multi-polar Central Banking system might be able to keep the debt laden world economy alive LONGER than the US simply going burko and breaking everything like a child because its Fedzilla was not good enough to have the unipolar empire.
      What would be worse, 20 years more of a collapsing Keynesian deflationary world wide train wreck, or only a couple more years and then a Mad Max period followed hopefully by some repair and hard won learning experiences?
      Personally I am of the Armageddon camp of thinking, anything else in misplaced positivism, and I just have to be a realist … it’s going FUBAR whether we like it or not, it’s just a matter of how long, and some Fascist monster will crawl out of the pit of hell for a short space of time whilst We The People give it a good slaying, but  not before a big pool of blood is the unfortunate result.

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