Rupert Murdoch tweets:

‏ @rupertmurdoch

Governments worldwide have borrowed 100 trillion last ten years. Defaults inevitable sometime soon. Means crash, hurting rich and poor.

‏ @rupertmurdoch Of course markets stay high with central banks printing huge sums, inflating everything except jobs.

The only question that matters then, is are they “printing”, and how long have we got?

This is the US money base, starting in 1918.

You can see the moment Lehman Brothers went under. It’s that “bend”.

..

That graph again, logarithmically, so we can put the last 90 years in perspective. Remember the oil crisis, the Vietnam War, the 1987 crash, LTCM, and the dot com burst? They don’t [...]

The gold bar was cut in half to reveal the tungsten rods.

You don’t need to be a conspiracy theorist to find this worrying: a 1kg gold bar, certified as 99.98% pure by XRF (X-ray fluorescence) tests, turns out to have been drilled out and largely replaced with tungsten. This bar was discovered only because it was 2 grams lighter than it ought to have been: the forgers failed to add quite enough gold to the outside of the bar to make up for the weight lost when they replaced gold with tungsten. But if they’d gotten the weight right, it would probably still be circulating today.

[Reuters]

Is this a big issue? Who knows? Gold bars are rarely audited. [...]

The meme is spreading. Rapidly, day after day, I’m meeting more Skeptical-Austrians, and Austrian-Skeptics. I don’t mean the country, but the economics.

James Delingpole-the-brilliant enjoyed my post: The Ground Zero of Global Corruption: it starts with The Currency. He’s had his awakening a few months back. Just yesterday I was talking to Redmond, a skeptic in Canada who turned out to be founder and director on Mises.ca (you can’t get much more Austrian than that). Martin Durkin (the infamous director of Great Global Warming Swindle) is an Austrian too. Back in Bali 07, even then, that Monckton, Archibald, and Balle were discussing gold and currencies (nearly half of all the skeptics there). I’m guessing Chiefio might be. I hear Ray Evans of the Lavoisier Group is too.

…skeptics of government science are also skeptics of government money…

It’s no surprise, really, that skeptics of government science would also be skeptics of government money. My message to all the sleeping skeptics out there is: get with the game. When I said climate science is the second biggest scam in history, I wasn’t joking.

So James, yes, welcome to the club! Absolutely, I’m an Austrian and so, of course, is [...]

But a head of the hydra popped into view last week. First a high profile whistleblower from Goldman Sachs wrote Why I am leaving in the New York Times. Then today (possibly, it’s unconfirmed), an insider from JP Morgan came forward to reveal something far worse, and dark to the core. It’s posted on the CFTC site (that’s The US Commodity Futures Trading Commission – the market watchdog, or rather watch-puppy). [UPDATE: The CFTC have removed the page after 48 hours, a copy of the text is here, screenshot here.]

A Goldman Sachs Executive Director — Greg Smith — resigned from the 143 year old firm explaining he felt ill with the callous culture where people would boast about how much they had ripped off clients, which they called “hunting elephants”, and calling their clients “muppets” and worse. He said that in 12 years the company had completely lost the culture that made him proud to join it. There was nothing left of integrity [...]

The government can print (base) money from nothing, and they can set interest rates artificially low so as to encourage private banks to create (bank) money from nothing. And governments keep doing it, because it’s so much easier to be elected handing out loaves and fishes, and grants and solar-rooftop-subsidies, in a froth of easy money and rising asset prices. Any fool can spend someone else’s money, especially when the sucker doesn’t even know it was their money.

Thus does inflation steal from all and sundry. Silently.

Watch them print money... say hello to inflation.

In the real world, we have to repay our debts. But the world of the ruling class never has to make ends meet. Alan Greenspan admitted that this weekend — effectively announcing that the US is the United States of Wonderland, where no matter how high the debt is [...]

Banks want us to trade carbon

JP Morgan, Morgan Stanley, Citigroup, BNP Paribas, Barclays, Deutsche Bank, Citigroup, Credit Suisse are just a few financial houses calling for emissions trading schemes. (None of them seem to be calling for a tax?) Those who broker the trades are guaranteed to make money.

Journalists who repeat IPCC press releases without investigation are unwittingly acting as unpaid agents for large financial players.

This “free market” is not free, and is not based on a commodity, but on unverifiable, unauditable permits for actions that depend on “motivations”. They are issued to companies to build clean factories they would otherwise not have built (who can tell?). The top two auditors in Europe have both been suspended in the last 12 months. Carbon permits have no value other than by government decree. It’s another fiat currency to be [...]

Thousands of scientists have been funded to find a connection between human carbon dioxide emissions and the climate. Hardly any have been funded to find the opposite. Throw billions of dollars at one question and how could bright, dedicated people not find 800 pages worth of connections, links, predictions, projections and scenarios? What’s amazing is what they haven’t found: empirical evidence.

The BBC says “there is a consensus and thus no need to give equal time to other theories”. Which means they are not weighing up the arguments, they’re just counting papers. This is not journalism. It’s PR. If the IPCC is wrong, if there is a bias, you’re guaranteed not to hear about it from any organisation that thinks a consensus is scientific.

When ExxonMobil pays just $23 million to skeptics the headlines run wild. But when $79 billion is poured into one theory, it doesn’t rate a mention.

Meanwhile, despite the billions poured in, the checks and “audits” of the science are left to unpaid volunteers. A dedicated grassroots movement of scientists has sprung up around the globe working against [...]

The Australian – Full story here. Note who is protesting at the slow delivery of an ETS….

AUSTRALIA’S ambitions to establish itself as an Asian carbon trading hub risk being dashed because of delays in the emissions trading scheme….

This was the assessment of bankers, lawyers and investors yesterday at the second Carbon Markets Expo on the Gold Coast. The expo has experienced a sharp decline in delegates this year, with numbers down from 1200 in its inaugural year to 750…

“As much as people talk about Australia creating a new carbon finance hub, I don’t think it will happen,” said Optim Legal’s Cameron Kelly, a lawyer specialising in carbon markets and credits. “If the CPRS does not get up, we’ll miss the boat.”

So a lawyer is afraid we’ll miss the boat. Which boat? That would be the boat-full of money from Australian workers that’s headed for major international banks, right?

(Isn’t that the kind of boat we would want to catch, but with a tactical nuclear sub and an armed SWAT team?)

Leading international investment banks such as JP Morgan, Merrill Lynch and Nomura, and other investors in the global carbon [...]

For the first time, the numbers from government documents have been compiled in one place. It’s time to start talking of “Monopolistic Science”. It’s time to expose the lie that those who claim “to save the planet” are the underdogs. And it’s time to get serious about auditing science, especially when it comes to pronouncements that are used to justify giant government programs and massive movements of money. Who audits the IPCC?

The Summary The US government has provided over $79 billion since 1989 on policies related to climate change, including science and technology research, foreign aid, and tax breaks. Despite the billions: “audits” of the science are left to unpaid volunteers. A dedicated but largely uncoordinated grassroots movement of scientists has sprung up around the globe to test the integrity of the theory and compete with a well funded highly organized climate monopoly. They have exposed major errors. Carbon trading worldwide reached $126 billion in 2008. Banks are calling for more carbon-trading. And experts are predicting the carbon market will reach $2 – $10 trillion making carbon [...]