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Two dismal sciences (climate and money)

Posted By JoNova On June 6, 2010 @ 3:13 am In Economics,Monetary History,Science of Money | Comments Disabled

Maybe you are already au fait with the deep flaws in our financial system, or maybe you are like I was ten years ago, too bored to read “economics”–knowing it was all human vagaries and surrounded with jargon. If your eyes glaze at the thought of bonds, yields, debt and GOFO’s–bear with me, I understand. But history books will be written about this year. No one can afford to be not interested in the science of money.

Economics is known as The Dismal Science, and the reason it’s dismal is the same reason that official climate science is — too many dollars at stake. (If we can treat psychology scientifically, why not economics too?)

Those who want to falsely alarm us benefit from confounding issues, confusing statements, argument from authority and bureaucratese

But the unscientific nature of some subjects is no accident. Clear thinking, transparency, and rigorous logic benefit the majority, just as jargon, elitism, gatekeepers and censorship do not.  Those who want to falsely alarm us benefit from confounding issues, confusing statements, argument from authority and bureaucratese, and so too do the people who control our money — central bankers, the banking aristocracy, and some politicians. (Though instead of a false alarm, they want false calm…)

Not coincidentally there’s a big overlap between skeptics of Government-backed-science, and skeptics of Government-backed-money. Back in Dec 2007 in Bali, 5 out of 12 skeptics there were fluent on our financial systems flaws*. I’ve touched on financial and monetary angles before in Climate Money, Carbon credits: another corrupt currency, Manufacturing Money, and problems with fiat currencies. But there have been several seismic stories breaking in the global world of banking that are boiling through the ethernets, that haven’t made it to the mainstream press (or scientific blog-land). I have to share them.

It’s no coincidence that corruption in money and corruption in science are simultaneous.

Watching the news recently, I got a sense of foreboding, and it’s not about carbon or climate. It’s about the financial wreck that is unfolding. You may not know it, but for years David and I have been watching the economy closely, as skeptics do, knowing full well that the big numbers don’t add up and waiting for the inevitable. It’s no coincidence that corruption in money and corruption in science are simultaneous. One feeds the other.

Last month as the news reported fatal riots and fires burning in the streets of Greece, I listened to the explanations (which didn’t make sense) of Wall St’s lightning smash and recovery. The pat explanations about a “fat finger” didn’t wash (and not with others either). Something enormous occurred on Thursday in early May on Wall St (a 9% fall in less than 10 minutes, which bankrupted many small traders), and if it was one monster mistake, the authorities would know who and how, and that sale would be obvious. But it was a spread of companies that were hit, and the vague guesses as explanations only make it more sinister. It gives away how fragile our trading system is. There’s a virus in our financial network. But things are different to August 2008, back then only a few people were spooked. Now, nearly everyone is. Now, the scene is ripe for an earthquake.

Before I wrote about climate science I was writing about the markets.

Just to add some background, we’ve been invested in gold and gold related stocks for ten years. We watched money supply figures and “inflation” statistics and saw the gaping discrepancy. I was writing about gold and the coming financial storm in 2008 for news outlets like The Mining Chronicle before Lehman Bros fell, I was buying and selling gold contracts on the Comex futures exchange for a while too.

This is some explanation for regular readers who might wonder “why” non climate stories will begin to appear. The blog is here to expose deceitful reasoning and poor communication and how they are used against us. In the sense that truth is stranger than fiction, I’ve been lucky enough to come across some extraordinary tales.

This is also a primer for people who think that the economics jargon is not worth the effort. Wait til you hear what’s been going on.

Carbon is the second largest scam in history.

* Both Climate Skeptics and Monetary Skeptics in Bali (if you are curious): Archibald, Balle, Monckton, David and I.

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