Total Economic Collapse!
Why Is The Stock Market Following The Same Chart As The 1929 Crash??
Posted about*1 week ago*|*4 comments- See more at: http://newswatch.us/why-is-the-stock....PCHh8chy.dpuf
Mark Hulbert) There are eerie parallels between the stock market’s recent behavior and how it behaved right before the 1929 crash.That at least is the conclusion reached by a frightening chart that has been making the rounds on Wall Street. The chart superimposes the market’s recent performance on top of a plot of its gyrations in 1928 and 1929.The picture isn’t pretty. And it’s not as easy as you might think to wriggle out from underneath the bearish significance of this chart.I should know, because*I quoted a number of this chart’s skeptics*in a column I wrote in early December. Yet the market over the last two months has continued to more or less closely follow the 1928-29 pattern outlined in that two-months-ago chart. If this correlation continues, the market faces a particularly rough period later this month and in early March. (See chart, courtesy of Tom McClellan of the McClellan Market Report; he in turn gives credit to Tom DeMark, a noted technical analyst who is the founder and CEO of DeMark Analytics.)One of the biggest objections I heard two months ago was that the chart is a shameless exercise in after-the-fact retrofitting of the recent data to some past price pattern. But that objection has lost much of its force. The chart was first publicized in late November of last year, and the correlation since then certainly appears to be just as close as it was before.- See more at:
Re: Total Economic Collapse!
The Final Swindle Of Private American Wealth Has Begun
Wednesday, 05 February 2014 02:41 Brandon Smith
began writing analysis on the macro-economic situation of the American financial structure back in 2006, and in the eight years since, I have seen an undeniably steady trend of fiscal decline.I have never had any doubt that the U.S. economy as we know it was headed for total and catastrophic collapse, the only question was when, exactly, the final trigger event would occur. As I have pointed out in the past, economic implosion is a process. It grows over time, like the ice shelf on a mountain developing into a potential avalanche. It is easy to shrug off the danger because the visible destruction is not immediate, it is latent; but when the avalanche finally begins, it is far too late for most people to escape…If you view the progressive financial breakdown in America as some kind of “comedy of errors” or a trial of unlucky coincidences, then there is not much I can do to educate you on the reasons behind the carnage. If, however, you understand that there is a deliberate motivation behind American collapse, then what I have to say here will not fall on biased ears.The financial crash of 2008, the same crash which has been ongoing for years, is NOT an accident. It is a concerted and engineered crisis meant to position the U.S. for currency disintegration and the institution of a global basket currency controlled by an unaccountable supranational governing body like the International Monetary Fund (IMF). The American populace is being conditioned through economic fear to accept the institutionalization of global financial control and the loss of sovereignty.Anyone skeptical of this conclusion is welcome to study my numerous past examinations on the issue of globalization; I don’t have the time within this article to re-explain, and frankly, with so much information on deliberate dollar destruction available to the public today I’ve grown tired of anyone with a lack of awareness.If you continue to believe that the Fed actually exists to “help” stabilize our economy or our currency, then you will never find the logic behind what they do. If you understand that the goal of the Fed and the globalists is to dismantle the dollar and the U.S. economic system to make way for something “new”, then certain recent events and policy initiatives do start to make sense.The year of 2014 has been looming as a serious concern for me since the final quarter of 2013, and you can read about those concerns and the evidence that supports them in my article*Expect Devastating Global Economic Changes In 2014.At the end of 2013 we saw at least three major events that could have sent America spiraling into total collapse. The first was the announcement of possible taper measures by the Fed, which have now begun. The second was the possible invasion of Syria which the Obama Administration is still desperate for despite successful efforts by the liberty movement to deny him public support for war. And, the third event was the last debt ceiling debate (or debt ceiling theater depending on how you look at it), which placed the U.S. squarely on the edge of fiscal default.As we begin 2014, these same threatening issues remain (along with many others), only at greater levels and with more prominence. New developments reinforce my original position that this year will be remembered by historians as the year in which the final breakdown of the U.S. monetary dynamic was set in motion. Here are some of those developments explained…Taper Of QE3When I first suggested that a Fed taper was not only possible but probable months ago, I was met with a bit (a lot) of criticism from some in the alternative economic world. You can read my taper articles*hereand*here.This was understandable. The Fed uses multiple stimulus outlets besides QE in order to manipulate U.S. markets. Artificially lowering interest rates is very much a form of stimulus in itself, for instance.However, I think a dangerous blindness to threats beyond money printing has developed within our community of analysts and this must be remedied. People need to realize first that the Fed does NOT care about the continued health of our economy, and they may not care about presenting a facade of health for much longer either. Alternative analysts also need to come to grips with the reality that overt money printing is not the only method at the disposal of globalists when destroying the greenback. A debt default is just as likely to cause loss of world reserve status and devaluation - no printing press required. Blame goes to government and political gridlock while the banks slither away in the midst of the chaos.The taper of QE3 is not a “head fake”, it is very real, but there are many hidden motivations behind such cuts.Currently, $20 billion has been trimmed from the $85 billion per month program, and we are already beginning to see what APPEAR to be market effects, including a flight from emerging market currencies from Argentina to Turkey. A couple of years ago investors viewed these markets as among the few places they could exploit to make a positive return, or in other words, one of the few places they could successfully gamble. The Fed taper, though, seems to be shifting the flow of capital away from emerging markets.The mainstream argument is that stimulus was flowing into such markets, giving them liquidity support, and the taper is drying up that liquidity. Whether this is actually true is hard to say, given that without a full audit we have no idea how much fiat the Federal Reserve has actually created and how much of it they send out into foreign markets.I stand more on the position that the Fed taper was actually begun in preparation for a slowdown in global markets that was already in progress. In fact, I believe central bankers have been well aware that a decline in every sector was coming, and are moving to insulate themselves.Is it just a "coincidence" that the central bankers have initiated their taper of QE right when global manufacturing numbers begin to plummet?http://www.agweb.com/article/us_stoc...nth-low.htmlIs it just "coincidence" the taper was started right when the Baltic Dry Index, a global indicator of shipping demand, has lost over 50% of its value in the past few weeks?http://investmenttools.com/futures/b...ry_index.htmIs it just "coincidence" that the taper is running tandem with dismal retail sales growth reports from across the globe coming in from the final quarter of 2013?http://www.businessweek.com/news/201...se-wallets/And, is it just a "coincidence" that the Fed taper is accelerating right as the next debt ceiling debate begins in March, and when reports are being released by the Congressional Budget Office that over 2 million jobs (in work hours) may be lost due to Obamacare?http://www.reuters.com/article/2014/...31B120140204No, I do not think any of this is coincidence.* Most if not all of these negative indicators needed months to generate, so they could not have been caused by the taper itself.* The only explanation beyond "coincidence" is that the Federal Reserve WANTED to launch the taper program and protect itself before these signals began to reach the public.Look at it this way - The taper program distances the bankers from responsibility for crisis in our financial framework, at least in the eyes of the general public. If a market calamity takes place WHILE stimulus measures are still at full speed, this makes the banks look rather guilty, or at least incompetent. People would begin to question the validity of central bank methods, and they might even question the validity of the central bank’s existence. The Fed is creating space between itself and the economy because they know that a trigger event is coming. They want to ensure that they are not blamed and that stimulus itself is not seen as ineffective, or seen as the cause.We all know that the claims of recovery are utter nonsense. Beyond the numerous warning signs listed above, one need only look at true unemployment numbers, household wage decline, and record low personal savings of the average American. The taper is not in response to an improving economic environment. Rather, the taper is a signal for the next stage of collapse.Stocks are beginning to plummet around the world and all mainstream pundits are pointing fingers at a reduction in stimulus which has very little to do with anything.
What is the message they want us to digest? That we “can’t live” without the aid and oversight of central banks.The real reason stocks and other indicators are stumbling is because the effectiveness of stimulus manipulation has a shelf life, and that shelf life is over for the Federal Reserve. I suspect they will continue cutting QE every month for the next year as stocks decline.* Will the Fed restart QE?* If they do, it will probably not occur until after a substantial breakdown has ensued and the public is sufficiently shell-shocked.* The possibility also exists that the Fed will never return to stimulus measures (if debt default is the plan), and QE stimulus will eventually be replaced by IMF "aid".Government Controlled InvestmentLast month, just as taper measures were being implemented, the White House launched an investment program called MyRA; a*retirement IRA program*in which middle class and low wage Americans can invest part of their paycheck in government bonds.That’s right, if you wanted to know where the money was going to come from to support U.S. debt if the Fed cuts QE, guess what, the money is going to come from YOU.For a decade or so China was the primary buyer and crutch for U.S. debt spending. After the derivatives crash of 2008, the Federal Reserve became the largest purchaser of Treasury bonds. With the decline of foreign interest in long term U.S. debt, and the taper in full effect, it only makes sense that the government would seek out an alternative source of capital to continue the debt cycle. The MyRA program turns the general American public into a new cash stream, but there’s more going on here than meets the eye…I find it rather suspicious that a government-controlled retirement program is suddenly introduced just as the Fed has begun to taper, as stocks are beginning to fall, and as questions arise over the U.S. debt ceiling. I have three major concerns:First, is it possible that like the Fed, the government is also aware that a crash in stocks is coming? And, are they offering the MyRA program as an easy outlet (or trap) for people to pour in what little savings they have as panic over declining equities accelerates?* Bonds do tend to look appetizing to uninformed investors during an equities rout.Second, the program is currently voluntary, but what if the plan is to make it mandatory? Obama has already signed mandatory health insurance “taxation” into law, which is meant to steal a portion of every paycheck. Why not steal an even larger portion from every paycheck in order to support U.S. debt? It’s for the “greater good,” after all.Third, is this a deliberate strategy to corral the last vestiges of private American wealth into the corner of U.S. bonds, so that this wealth can be confiscated or annihilated? What happens if there is indeed an eventual debt default, as I believe there will be? Will Americans be herded into bonds by a crisis in stocks only to have bonds implode as well? Will they be conned into bond investment out of a “patriotic duty” to save the nation from default? Or, will the government just take their money through legislative wrangling, as was done in Cyprus not long ago?The Final SwindleAgain, the next debt ceiling debate is slated for the end of this month. If the government decides to kick the can down the road for another quarter, I believe this will be the last time. The most recent actions of the Fed and the government signal preparations for a stock implosion and ultimate debt calamity. Default would have immediate effects in foreign markets, but the appearance of U.S. stability could drag on for a time, giving the globalists ample opportunity to siphon every ounce of financial blood from the public.It is difficult to say how the next year will play out, but one thing is certain; something very strange and ugly is afoot. The goal of the globalists is to engineer desperation. To create a catastrophe and then force the masses to beg for help. How many hands of “friendship” will be offered in the wake of a U.S. wealth and currency crisis? What offers for “aid” will come from the IMF? How much of our country and how many of our people will be collateralized to secure that aid? And, how many Americans will go along with the swindle because they were not prepared in advance?*****You can contact Brandon Smith at:**email@example.com
Re: Total Economic Collapse!
WELL OVER ONE HUNDRED TRILLION DOLLARS IN DEBT!
FEBRUARY 17, 2014 4:00 AMThe United States of DeclineAmerica unravels at an increasingly dizzying pace.By*Deroy Murdock
America is unraveling at a stunning speed and to a staggering degree. This decline is breathtaking, and the prognosis is dim.For starters, Obama now rules by decree. Reportedly for the*27th*time, he has changed the rules of Obamacare singlehandedly, with neither congressional approval nor even ceremonial resolutions to limit his actions. Obama needs no such frivolities.“That’s the good thing about being president,” Obama joked on February 10. “I can do whatever I want.” In an especially bitter irony, Obama uttered these despicable words while guiding French president François Hollande through Monticello, the home of Thomas Jefferson — a key architect of America’s foundation of limited government.
That very day, Obama*decreed*that the Obamacare mandate for employers with 50 to 99 workers would be postponed until 2016 (beyond an earlier extension to 2015), well past the November 2014 midterm elections. This eases the pressure on Democrats, whose campaigns would suffer if voters saw their company health plans canceled due to Obamacare’s unnecessary, expensive, mandatory benefits — e.g. maternity coverage for men.So, by fiat, Obama has postponed the employer mandate. When Senator Ted Cruz (R., Texas) effectively tried to do this through legislation last fall, Democrats virtually lassoed and branded him.
Also by decree last week, Obama decided unilaterally to*soften*political-asylum rules. Refugees and other immigrants who provide terrorists “limited material support” now can come to America. So what if someone merely clothed and fed Mohamed Atta or Khalid Sheikh Mohammed? After all, garments and meals don’t blow up. Welcome to America, Mustafa!Meanwhile, the Justice Department is working hard to revoke the asylum of and deport the*Romeikes. This evangelical-Christian family was granted refuge in America to escape prosecution for homeschooling their children, which German law forbids.So, Obama believes, those who are only somewhat helpful to deadly, anti-U.S. terrorists may become Americans, while religiously oppressed homeschoolers who face prison should get the hell out.The transparent electoral motive that fuels so many of Obama’s executive orders seems unprecedented. The tone is also brand new. Obama’s predecessors have signed executive orders and, more or less, left it at that. But Obama pounds his chest as he does so. As he*told*Congress at last month’s State of the Union address: “America does not stand still — and neither will I. So wherever and whenever I can take steps without legislation to expand opportunity for more American families, that’s what I’m going to do.”While appalled Republicans sat on their hands, Democrats stood up and shouted like equatorial, rubber-stamp parliamentarians: “Hooray! We are irrelevant!”Chilling.Meanwhile, as the American Enterprise Institute’s Marc Thiessen*wrote*in the February 10*Washington Post, new Congressional Budget Office figures show that Obamacare will reduce U.S. incomes by $70 billion annually between 2017 and 2024. The CBO also estimated that by 2021, Obamacare’s disincentives to hire and incentives not to work would*slash*labor hours by the equivalent of 2.3 million jobs.Rather than dispute these figures, key Democrats embraced them.“We want people to have the freedom to be a writer, to be a photographer, to make music, to paint,”*said*House Democratic leader Nancy Pelosi of California. She added that “people would no longer be job-locked by their [health] policies, but have the freedom to follow their passion.”So, rather than expand economic growth and jobs, Democrats*applaud*as Americans stop working — to do watercolors, draft poetry, and take naps — while exhausted taxpayers foot the bill.Clearly unafraid of Obama, Iranian warships for the*first*time are steaming toward America’s Atlantic maritime borders. Iranian Revolutionary Guards Corps navy commander Ali Fadayi*said, “The Americans can sense by all means how their warships will be sunk with 5,000 crews and forces in combat against*Iran*and how they should find its hulk in the depths of the sea.” Tehran last week also aired fantasy videos of drones blasting a U.S. warship and bombing Tel Aviv. This is how Iran behaves while it negotiates with U.S. diplomats over “peaceful” uranium enrichment?
Re: Total Economic Collapse!
Re: Total Economic Collapse!
US military protecting international banking cartel
"My assessment is that 90% of the value of the US dollar comes from the US military.”— Former Assistant Housing Secretary Catherine Austin Fitts
For decades, America has used its armed strength to enforce the use of the dollar as the world’s reserve currency, effectively making the US military the armed wing of the international banking cartel (IBC). Since 1971 when President Richard Nixon stopped paying US debt obligations with gold, America has increasingly used its military might to prop up the value of the dollar and enforce a global financial structure whose primary beneficiary is the US itself, and whose central bank, the Federal Reserve, serves as the IBC’s supervisory authority.
Who or what is this IBC?* It consists of Bank of America, JP Morgan Chase, Citigroup and Wells Fargo along with Deutsche Bank, BNP and Barclays. Eight families reportedly control the IBC: the Goldman Sachs, Rockefellers, Lehmans, Kuhn Loebs, Rothschilds, Warburgs, Lazards and the Israel Moses Seifs.* Besides owning the US oil behemoths Exxon Mobil, Royal Dutch Shell, BP and Chevron Texaco, IBC member institutions are among the top ten shareholders of nearly every Fortune 500 company. While the IBC itself has no formal status, nevertheless its members are represented by an international body, the Financial Stability Board (FSB).* Organized as the Financial Security Forum in 1999 by G7 finance ministers and central bank governors, the FSB “seeks to give momentum to a broad-based multilateral agenda for strengthening financial systems and the stability of international financial markets.”
The methodology for global financial domination is really quite simple: America imports more goods than it exports and therefore dollars flow out of the US and accumulate in the central banks of other countries. Since the US has refused to honor these obligations in gold, the central banks are forced to invest in US treasury bills, bonds and other US financial instruments that pay interest which is financed by the issuance of further debt. The result is a US-dominated global financial system dependent upon maintaining the value, or more correctly, minimizing the rate of depreciation, of the dollar, allowing the US to enjoy an extravagant consumer-based economy at the expense of the rest of the world.*
Regarding the insidious US debt-domination process, Wall Street analyst Michael Hudson explains that “by running balance-of-payments deficits that it refuses to settle in gold, it has obliged foreign governments to invest their surplus dollar holdings in Treasury bills, that is, to relend their dollar inflows to the US Treasury.”** The system is somewhat self-perpetuating, for should a non-US central bank decide to divest its dollars, it would effectively sabotage the economy in its own country.** Of course, foreign central banks and financial institutions are well aware that by investing in US treasury securities, they will lose money since the Federal Reserve will only turn around and “print” more dollars, thus further diluting the value of their reserves. However, if these foreign institutions would fail to reinvest their dollars in more T-bills, the rate of depreciation of their dollar holdings would accelerate dramatically. Such awareness holds most governments in check, preventing wholesale dumping of dollars, which of course would bring the entire global system down, along with the IBC.
Nevertheless, an increasing number of challenges to this dollar hegemony regime has arisen, some of which have necessitated suppression by the US military.* Iraq is a good case in point. In November of 2000, former Iraqi dictator Saddam Hussein announced to the world that Iraq would no longer accept dollars for petroleum transactions. Despite the declining value of the Euro, Saddam demanded payment for Iraqi oil in the troubled currency while declaring dollars to be “the currency of the enemy.” By 2002, Iraqi oil was being traded in Euros, effectively dumping the dollar. Former US President George W. Bush, who was a deputy of the IBC from the oil industry, used the 9/11 terrorist attacks as a convenient excuse to invade Iraq in March 2003, thus eliminating Saddam’s threat to dollar domination.
When former Libyan leader Muammar al-Qaddafi tried to establish a state-run central bank and trade petroleum in non-dollar currencies, the IBC tapped NATO to intervene. On March 19, 2011, a mere month after initial internal unrest, the Transitional National Council “rebels” announced they were establishing the Libyan Oil Company as the supervisory authority on oil production and policies, and designated the Central Bank of Benghazi as the authority for monetary policies.* That a local group of rebels one month into a rebellion would form a national oil company and designate a private central bank astounded Robert Wenzel of the Economic Policy Journal who remarked, “I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising.” Confirming suspicions of IBC involvement, the US Treasury placed sanctions on Qaddafi’s National Oil Corporation, but assured the rebels, “Should National Oil Corporation subsidiaries or facilities come under different ownership and control, Treasury may consider authorizing dealings with such entities.”
Other countries have had enough of the IBC and its armed wing. Both Russia and China have expressed their distaste for the dollar status quo and US threats of sanctions or military force. On Thursday, Sept. 6, 2012, China announced that any nation in the world that wishes to buy, sell, or trade crude oil can do using the Chinese currency, not the American dollar. Following suit the next day, Russia announced that it would sell China all the crude oil it wanted but it would not accept US dollars. In addition, Russia has recently unveiled a payment system, called the PRO 100 Universal electronic card, designed to bypass the IBC should it again decide to block credit card services to Russian banks.* “There is little doubt in my mind but that Russia and China and no doubt many other countries around the world are getting angry as hell about the US abusing its foreign currency privilege,” wrote investment banker Jay Taylor.
The question is how can we put an end to this stranglehold on the global financial system by the IBC and its armed wing? Hensm gives us a simple, straightforward answer: “Destroy US dollar hegemony, and the ‘Empire’ will collapse.” If more nations join Iran, Russia and China, and opt out of the US dollar protection racket, then this evil “Empire” will surely collapse along with its armed wing.
Inside Wall Street's most secret society: The billionaire banker fraternity where cross-dressing new members make jokes about Hillary Clinton and drunkenly mock the financial crisis
By James Nye15:45 18 Feb 2014, updated 23:17 18 Feb 2014
Kappa Beta Phi was founded in 1929 and has remained secret for more than eight decades
One reporter managed to sneak into their January 2012 induction for new membersWitnessed them dressed in drag, telling jokes in bad taste and mocking Main Street and the bailout
A journalist who gate-crashed a secret fraternity of billionaire bankers has laid bare the booze fueled, cross dressing antics of its members as they openly mocked the 99 percent and made light of the enormous government bailouts of 2009.
Sneaking into the swanky St Regis Hotel ballroom in January 2012, where he was assumed to be a waiter, Kevin Roose became the first outsider to witness the Monty-Python-esque induction ceremony for Kappa Beta Phi.
New members, known as neophytes, traipsed around other masters of the universe dressed in leotards and gold-sequined skirts and wigs - to then perform vaudeville-style acts that included homophobic and sexist jokes and even a parody of ABBA's 'Dancing Queen', called 'Bailout King'.Over 200 multi-millionaire and billionaire bankers and financiers were in attendance at the annual event so chock-full of power and money that Roose felt that 'if you had dropped a bomb on the roof, global finance as we know it might have ceased to exist'.Older hands at the fraternity, which has existed since the end of the Great Depression, walk around the well-lubricated dinner wearing 'purple velvet moccasins embroidered with the fraternity’s Greek letters'.
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One-Percent Jokes and Plutocrats in Drag: What I Saw When I Crashed a Wall Street Secret Society
Revealed: The Full Membership List of Wall Street’s Secret Society
Full list of names at link above
Wall Street Chapter
Duff P. Anderson (1994)
Silas R. Anthony, Jr. (1993)
Andrew Arno (2001)
Peter A. Atkins (1977)
Walter E. Auch, Jr. (2000)
Sara Ayres (2009)
George L. Ball (1975)
Vincent Banker (2003)
David C. Batten (1981)
Bernard Beal (2007)
Robert Benmosche (2002
James A. Benson (1995)
Jonathan M. Berg (2006)
Alfred R. Berkeley (2000)
Rosemary T. Berkery (2006)
Michael A. Berman (2000)
E. Garrett Bewkes III (1993)
Jessica Bibliowicz (1999)
John Birkelund (1981)
Ronald E. Blaylock (1999)
Michael R. Bloomberg (1995)
Andrew Blum (1972)
Howard L. Blum, Jr. (1986)
Magnus Bocker (2009)
Mike Bodson (2009)
Geoffrey T. Boisi (1989)
Suicides baffles experts
By*Michael GrayMarch 18, 2014 | 2:27pm
By*Michael GrayMarch 18, 2014 | 2:27pm
The financial world has been rattled by a rash of apparent suicides, with some of the best and brightest among the finance workers who have taken their lives since the start of the year.A majority of the eight suicides of 2014 have been very public demonstrations, which has suicide-prevention experts puzzled.“Jumping is much less common as a method for suicide in general, so I am struck by the number that have occurred in recent months in this industry,” said Dr. Christine Moutier, chief medical officer of the American Foundation for Suicide Prevention.Moutier also discounts the location of the act as being the driver behind the reason for the suicide.
“The suicide-research literature doesn’t help very much with the question of why the method of these suicides is so out in the open,” she added.
MARCH 12: Kenneth Bellando, 28, an investment banker at Levy Capital, was found dead on the sidewalk outside his building on Manhattan’s East Side, after allegedly jumping from the sixth-story roof, sources said.
MARCH 11: Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, jumped in front of an LIRR train near the Syosset, NY, train station.
FEB. 28: Autumn Radtke, CEO of First Meta, a cyber-currency exchange firm, was found dead outside her Singapore apartment. The 28-year-old American jumped from a 25-story building, authorities said.
FEB. 18: Li Junjie, a 33-year-old JPMorgan finance pro, leaped to his death from the roof of the company’s 30-story Hong Kong office tower, authorities said.
FEB. 3: Ryan Henry Crane, 37, a JPMorgan executive director who worked in New York, was found dead inside his Stamford, Conn., home. A cause of death in Crane’s case has yet to be determined as authorities await a toxicology report, a spokesperson for the Stamford Police Department said.
JAN. 31: Mike Dueker, 50, chief economist at Russell Investments and a former Federal Reserve bank economist, was found dead at the side of a road that leads to the Tacoma Narrows Bridge in Washington state after jumping a fence and falling down an embankment, according to the Pierce County Sheriff’s Department.
JAN. 28: Gabriel Magee, 39, a vice president with JPMorgan’s corporate and investment bank technology arm in the UK, jumped to his death from the roof of the bank’s 33-story Canary Wharf tower in London.
JAN. 26: William Broeksmit, 58, a former senior risk manager at Deutsche Bank, was found hanged in a house in South Kensington, according to London police.
Exposing what lies beneath the bodies of dead bankers and what lies ahead for us
Death Derivatives Emerge From Pension Risks of Living Too Long
By Oliver Suess, Carolyn Bandel and Kevin Crowley*May 16, 2011 7:01 PM EDT
Goldman Sachs Group Inc. (GS),*Deutsche Bank AG (DBK)and*JPMorgan Chase & Co. (JPM), which bundled and sold billions of dollars ofmortgage loans, now want to help investors bet on people’s deaths.Pension funds sitting on more than $23 trillion of assets are buying insurance against the risk their members live longer than expected. Banks are looking to earn fees from packaging that risk into bonds and other securities to sell to investors. The hard part: Finding buyers willing to take the other side of bets that may take 20 years or more to play out.
“Banks are increasingly looking to offer derivative solutions,” said Nardeep Sangha, 43, chief executive officer of Abbey Life Assurance Co., a London-based Deutsche Bank unit that helps pension funds manage the risk of retirees living longer than expected. “Making the long maturity of the risks palatable for investors, including sovereign wealth funds, private-equity firms and specialist funds, is the challenge.”
As insurers reach the limit of how much pension-fund liability they’re willing to shoulder, companies such as JPMorgan and*Prudential Plc (PRU)*last year set up a*trade group*aimed at establishing and standardizing a secondary market for so- called longevity risks. They’re also developing indexes that measure mortality rates and securities to let pension funds pay fixed premiums to investors in return for coverage against major deviations from projections.
Swiss Reinsurance Co., the second-biggest reinsurer, sold the world’s first longevity bond in December in what it called a “test case” to sell risk to the capital markets.‘Run Dry’Goldman Sachs, based in*New York, and Deutsche Bank in Frankfurt have set up insurance companies that promise to pay pensions if retirees live beyond a certain age. They typically receive a portion of the pension plan’s assets in return. The banks, along with*Morgan Stanley (MS),*Credit Suisse Group AG (CSGN)*and*UBS AG (UBSN), are looking for ways to offer this risk to investors.
“Ultimately, reinsurance capacity for longevity risks will run dry, and that’s why it’s imperative that as the market grows and develops it is able to bring in new types of risk-takers,” Sangha said. “The obvious channel is the capital markets.”
Medical advances and healthier lifestyles have made predicting life spans more difficult for pension funds. Life expectancy in the U.K. is increasing by one to three months every year, according to Dutch insurer*Aegon NV. (AGN)*Every year of additional life expectancy typically adds as much as 4 percent to future pension requirements, Aegon said in a*report*in March.Aegon reported last week that first-quarter profit fell 12 percent as the company set aside money to cover the risk of policyholders in the Netherlands living longer than expected.
Pension funds can hedge against life-expectancy risk by transferring assets to an insurer or other counterparty that promises to pay some or all of the future liabilities. Last year,*GlaxoSmithKline Plc (GSK), the U.K.’s biggest drugmaker, became the 10th FTSE 100 firm to buy insurance on about 900 million pounds ($1.5 billion), or 15 percent, of its U.K. obligations.That means Prudential, the U.K.’s largest insurer, rather than the pension fund, will pay some GlaxoSmithKline pensioners should they live longer than expected. Most longevity risk transferred from pension funds is held by insurers.Regulators are just beginning to focus on the new products.“We’re seeing more and more sophisticated mechanisms being offered,” said Bill Galvin, CEO of the*U.K.’s Pensions Regulator. “From a regulatory perspective, we are concerned to ensure that trustees understand the extent to which longevity risk has been passed from their scheme and the precise shape of any residual risk.”
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Buried Gold Likely Not From Heist, Says US Mint Rep
AND HE'S NOT THE ONLY ONE TO POOH-POOH THE THEORY
By Kate Seamons, *Newser StaffPosted Mar 5, 2014 7:12 AM CST*|*Updated Mar 5, 2014 8:00 AM CST
Re: Total Economic Collapse!
Bracken: Alas, Brave New Babylon
Alas, Brave New Babylon
By Matt Bracken
Monday, August 26, 2013
1. THE REGAL INN MOTOR LODGE
I used to be a history teacher at a private Christian school in Louisiana. I was in my mid-thirties then, unmarried and unattached. It was June and I was on a road trip, cruising up Interstate 81 through the northeastern corner of Tennessee in my Maxima. I was going to spend the month in Pennsylvania, hiking another 300 miles of the Appalachian Trail. The trail ran 2,200 miles from Georgia to Maine, and over previous summers I’d hiked it in sections, from south to north. After a school year spent dealing with self-absorbed and often hysterical teenagers, I was looking forward to the wilderness solitude.
And that was my working knowledge of the unfolding events.
By the time I decided to top off my tank in the northeastern corner of Tennessee, every gas station was taking cash only, with long lines of cars forming. I’d stopped at an ATM before my road trip and had nearly 300 dollars stuffed in my wallet, and I wasn’t worried. I still had a quarter of a tank, so I motored on and a few exits later, just past a cluster of gas stations jammed with vehicles, I pulled into the Regal Inn Motor Lodge and got a room. The Hindu desk clerk was happy to accept cash at below the posted nightly rate.
I figured the credit card situation might be straightened out overnight. I could gas up in the morning after the lines cleared. I was in no hurry; I had all summer. That was my thinking going to bed that night.
Woke up to no power, the TV dead, everything dead that didn’t run on batteries. Anything that depended on the internet, cell service, wireless anything, that was all dead too. My smart phone was brain dead. It could show me some of my old pictures and texts, but it couldn’t make a connection. Same deal in the motel lobby: no power, no wireless connections, no credit cards.
Some Knoxville radio stations were still on the air, running on generator power. Their sporadic reports were equal parts confusion, terror, mayhem, and anarchy. Shooting, killing, carjacking, home invasions. Hospitals crying in desperation for help. Some motel guests rushed away, and others stayed, too afraid to move down the interstate.
The motel staff allowed us to stay, on the mutual presumption that our bills would ultimately be paid once the credit card system came back on. Their sole alternative was to demand cash and threaten to evict us, and watch more tenants bolt without paying anything.
Eventually the potable water hoarded in a bathtub runs out, and I soon learned that it runs out much faster if you have entire families, from grannies to infants, living in single motel rooms. When my neighbors begin imploring me, the obvious bachelor, for some extra water for their kids, I knew it was time to move on. Let them have the remaining tub water, and the extra bed and square feet to spread out in. I had other options—they didn’t.
Cresting a rise on the town’s main drag, I could see the crowd ahead of me surging toward a complex with a Walmart across from a strip shopping center. The people were being organized into lines far ahead and below me. I pulled out my little binos for a closer look. I noticed a few metal barricades, the low steel-pipe kind that come in sections and hook together around festivals and concerts. Other dividers were made of orange plastic netting and traffic cones. Some soldiers, either Army or National Guard, were running the operation. I saw lots of police cars, a few Humvees, some military trucks, and a single four-wheeled armored personnel carrier with a machine gun on top.
I sidestepped behind a corner where I could watch out of sight. The local topography gave me a good view a few hundred yards away, down to the Walmart plaza. I didn’t see anybody coming my way carrying bags full of MREs, but I did see the queue lines getting narrower and narrower, being funneled into temporary chain-link fence sections. I couldn’t read the signs or make out the words of the announcements, but I could see that men were being directed to some lines, women with small children to others. The lines went out of sight around the Walmart, but I decided I’d get no closer until I saw happy people returning with bags of food.
And that FEMA and National Guard fiasco was the last I saw of the official United States government. I dove into the forests and have kept within them, or at least kept them on my flank, ever since. What I know I only know from word of mouth, rumor stacked on rumor. The worst rumors came from travelers who claimed to have escaped from the cities. They invariably reported complete social breakdown: anarchy, madness, race war, mass rape, torture, widespread arson, and wholesale murder. Hunger and hatred squared, madness and murder cubed, the blood fevered by fear, desperation, and the long-simmering racial hatred finally boiling over.
The consistent theme that every city survivor repeated was the utter callousness of average, ordinary people. Shoot on sight at the effective range of your weapon became the only rule of engagement. The further away, the better. Before their faces were clear. And within a month, food took on a different meaning—predator and prey within the same species.
The few city folk who found their way to the Appalachian Trail stuck slavishly to the paths marked by trees with painted blaze marks. I avoided the marked trails; they were studded with trolls waiting in ambush for the unwary traveler. The greatest danger in the forests came from hunters and other armed woodsmen, and there were plenty of them out there, especially at the beginning. If you were seen first, you might be shot without ever seeing your killer. Or you might walk into a snare, a deadfall, a tiger pit, or some other kind of trap. One of those hunters had carried a top-grade compound bow before he took a fatal tumble. I found his camouflage-clad skeleton at the bottom of a ravine, his bow hooked on the stub of a pine limb above him as if he’d left it there for me.
2. THE HAWK’S NEST
My second year was spent slithering from tree to tree and cave to cave, learning basic animal survival on a belly so tight that it shrank my brain by sheer suction. But that’s a chapter I’ll never write, since most of what I remember of the second year I’m trying to forget.
By the third turning of the leaves I was traveling with Lisa, a blonde nurse in her late twenties, and Roger, my age but appearing older. He’d been a welder and a machinist, and sometimes he worked on oil rigs. Roger and Lisa. Good people. As good as they come.
How I met up with them last autumn, I’m not really sure. I was living like an animal, and then I was just with them; how we fell in together is gone from my mind. I have strong but indistinct memories of being carried by Roger, of being dragged behind them in a travois, and of being cared for by Lisa. Rain pounding on a tent made from ponchos and tarps, wet all the time. Wet but alive, and no longer alone.
As my mind improved with better nutrition and less stress, it was my set understanding that Roger and Lisa were my saviors, best friends, and closest allies. I was happy to be with them, happy for their company. We were still nearly always hungry, but we would help each other find food. We’d hunt together and share our knowledge of edible plants and other survival tricks. We’d watch over each other when we slept. But they were never lovers, it was nothing like that, not that I perceived back then.
My third winter in the mountains was spent with them in the Hawk’s Nest. This was our spot on the Blue Ridge side of the Nantahala National Forest, in the far western corner of North Carolina. The nest’s foundation was a natural cave, to which cut timber and shards of local slate had been added over the decades to make a partial roof and one wall, all chinked with mossy earth to keep out the wind and rain. Snug as bugs we were, after making rudimentary repairs. Dry, cozy in all weather, with a view shared with the hawks and eagles. Raptors constantly circled our stony fingers in the sky, wheeling on the thermals. The entrance was even kept nearly snow-free by the topography and the usual wind direction of winter snowstorms.
The nest was at the vertical end of a minor chink in a mountain ridge leading to nowhere. It terminated in sheer drop-offs on the eastern face of the Blue Ridge, forming a natural redoubt. The airy hideaway at the top of the cleft was my discovery, based on close topographical map study, experience, and a hunch. I imagined that in other hard times it had sheltered Indians, Civil War deserters, moonshiners, poachers, hermits, and other assorted outlaws and outcasts.
There was no way to the top by vehicle, so the cast-iron stove in the nest had to have been hand-carried up in pieces, I guessed maybe a century before. A natural spring was diverted into the nest by an ancient wrought-iron pipe. Enough for rudimentary washing, dipping warm water from a stove-heated aluminum basin. Lisa cut my hair short with her nurse’s medical scissors and combed it for ticks and nits. We grew closer in a special way. Roger didn’t have enough hair on his head to bother with. We both kept our beards short with her scissors.
Around the nest we were safe from discovery or attack, but constantly at danger of a crippling or fatal fall. The isolation was worth the tradeoff. The Hawk’s Nest was a perfect hunter’s lair and we didn’t starve. We didn’t freeze, with abundant deadfall wood nearby, and didn’t go completely around the bend. Cabin fever can be intense with two men and one woman occasionally snowed in for days or even weeks. One or two of us at a time would go out for meat or firewood as the mood and the weather conspired. Firewood and heavy game had to be hauled up the last fifty feet by rope.
My best memories: Lisa and I even made tender love a few times, on pleasant days when the tumblers of her safe aligned and she fell open to me while Roger was off hunting solo. Roger still imagined that our triumvirate union was asexual, transformed to a higher plane. And so had I thought, during the initial recovery of my social skills after we joined up. We were the three musketeers, buddies, comrades, super-survivors, two mountain men and a mountain gal, pals through thick and mostly thin. And we were, at first.
Lisa had been a nurse back in Chattanooga. She told us that vitamin deficiency and malnutrition lead to scurvy, rickets, beriberi, blindness and various psychological problems. Starving people often beat each other to death with rakes and hoes over failing gardens, she told us. The mental results of wintering over together in tight quarters were not unknown to us, but we were mature adults and could overcome them, we thought.
And then one day last week, Lisa fell from the cliff by a frozen waterfall. According to Roger. Fell, slipped—or perhaps she’d been given a nudge? There was no way to know for sure without reading Roger’s heart, and maybe not even then. And how can the merely mad judge the completely insane? Which is which, and who is who? It was easy enough to slip where the snowmelt and spring water froze to the steep granite. We buried her there at the base of the frozen waterfall, under a cairn of stones, sobbing quietly, not looking at each other’s faces.
Lisa’s fall could have happened to any of us at almost any time. As spring came on and we were tempted out on longer hunting forays, the risk increased. The top of a frozen waterfall was a shortcut along the path, of course it could happen. But still, I wondered, what was Lisa doing with him down by that waterfall? However it had happened, it had happened. I stayed awake that night in my sleeping bag, thinking and deciding. It came down to kill Roger and leave, or just leave. He’d saved my life when they took me in on the trail—so I let him live.
What I needed I put in my old green pack, dressed in my raggedy brown Patagonia jacket and handmade buckskin pants. Compound bow and a dozen handmade dogwood arrows. My five-foot blowgun, made of thin PVC encased in two pieces of ash wood for stiffness, one of my hand-carved inventions. My rifle scope, my maps and compass, my solar-powered radio. Water jug. A plastic bag containing a few strips of various smoked meats. A rabbit-leather pouch containing mementoes and talismans, including a lock of Lisa’s blonde hair. Spare arrowheads made from steel razor-wire barbs. Some things I’d hung on to since the beginning, and more that I’d found or I’d made.
That was some days ago, when I slipped out of the nest under the setting full moon and crept down the mountain. After a final twenty miles of shadowing the old Appalachian Trail south toward Georgia, I came to the place where I finally had to leave my detailed topo maps for the scant information of a road map. I knew from memory that the northeast corner of Georgia was just a beige-colored blank on my South Carolina map. But I knew that if I just kept traveling southeast, I was bound to strike the Chattooga River, the boundary between the tips of Georgia and South Carolina.
The Chattooga would carry me to the Savannah River, the ocean, and maybe a new life.
I’d build a raft resembling a snag of branches, drifting by day hidden low, paddling by night. Playing it by ear, dodging from river to land depending on the terrain and the local situations as I encountered them.
There were a few unavoidable dams and cities along the river to sneak around. The city of Augusta would be a major obstacle. It would be impossible to float unimpeded all the way to the Atlantic, but I considered myself an expert at stealthy land navigation with a map and compass—even if the next map was only a state road map. Three years of comparing road maps, topo maps, and the hills around me had given me a superb ability to forecast the terrain ahead. That knack was one of the reasons I was still alive.
The younger GPS generation was lost when their screens went dark. Their brains had been wired from early childhood to be led and directed from point to point by computer-generated voices and pixel arrows. By the time the grid went down most people were incapable of learning to navigate by map and compass, and anyway, almost nobody had them. I was the rare exception, already equipped with a Silva Ranger compass, my Appalachian Trail topo maps, guide books, and my previous summers’ experience hiking the Trail.
As soon as the power was lost, there were no more computer-generated dropdown menus full of helpful suggestions to the traveler. No Google, no Bing, no search engines at all. The screen addicts couldn’t light a fire with an entire pack of matches: I’d seen them wasting match after match in the rain. The concept of dry kindling wood had escaped their educations entirely. After their matches and butane lighters were used up during the first winter, they froze to death, providing gear, clothing, and eventually the meat from their very bodies to the more ruthless and better prepared. I’d seen their campsites, and I’d seen their bones. I’d worn their boots.
3. THE RADIO TOWER
I came upon the downed radio mast after a long uphill slog through not-quite-budding oaks and maples. There was good visibility through the trees, since the leaves weren’t in yet. The top five hundred feet of the northwest slope I was walking up was covered in a few inches of crusty snow that the March sun could not yet reach.
My goal had been to get to the top of this mountain for my next long view toward the southeast. I’d seen this summit days before, using my scope from another elevated vantage point now many miles behind me. In the distance I’d noticed a sharpish-something poking above the treetops of a ridge. Now I knew for certain that I was on the mountain I’d seen, and what that sharpish-something was. The wreck of the tower was running uphill and in my direction.
The three legs were six inches in diameter, the connecting struts about half that, and saplings had grown up around and through them. Alternating twenty-foot sections of the tower had been painted red and white, corresponding with the sections that had been bolted together during its erection many years earlier. In another minute I reached the top.
The bottom section was still bolted to a concrete pad, leaving a hundred feet of unbroken tower still jutting into the sky. I’d seen enough radio towers to guess what had happened. Wire-stayed towers were usually supported by three sets of wires, spread 120 degrees apart. Somebody had cut the outermost guy wires on one side, the wires that led to the upper sections of the mast. An ordinary hacksaw and a little patience could do the job.
Near the base of the mast was a single-room cement block structure, as well as large metal boxes for electrical transformers. Both tower and structures were surrounded by a chain-link fence enclosing perhaps a quarter acre. The vehicle gate’s chain had been cut, the gate left open. My natural caution warned against entering what could be a trap, but my greater curiosity sent me through (after a close look for trip lines, snares, and traps). New growth through the fencing ensured that the gate could not swing shut behind me.
I decided to take my compound bow and quiver of arrows, more for psychological reasons than for any plausible tactical advantage. I’d be visible to anybody within miles, but an arrow would be effective only against an unarmed adversary very near the base of the tower. Yet I still slung the bow across my back by its leather carrying strap. I hated the idea of being cut off without a weapon.
Iron hand-grips that doubled as steps were welded to the outside of one of the three main pillars, forming a ladder, rusty but still plenty strong. After giving another slow look around, I spat on my hands for luck and started up, one welded rung at a time. The rungs were ice cold, but my bare hands were tough enough. After fifty rungs I was even with the treetops. Fifty more and I was getting close to where the tower had buckled and twisted back down the mountain.
Below that bent and broken section, at the point where the remaining guy wires still held the tower stump erect, was an encircling array of what I guessed were microwave transmitters. A deck of metal grating had been welded between the legs of the tower as a working platform for equipment installers and technicians. With about six feet between the legs, it made a nice perch for me to sit on Indian-style, looking between two of the legs toward the southeast.
From within my coat, kept in its special pocket, I brought out my Leupold rifle scope, already turned to its maximum twelve-power magnification. The bolt-action rifle it had been mounted on was useless without its rare .264 Winchester Magnum ammunition. The scope, on the other hand, was priceless. I flipped open the lens covers and brought the scope toward my eye, assuming a rifleman’s sitting stance, elbows on knees, both hands on the scope for stability.
I could see a few miles across to the next ridges, and I did a slow, methodical sweeping search. The next mountains were miles out of the Nantahala National Forest, and homes were built on their slopes. But there was no visible smoke, no man-made sounds of planes or trucks or industrial machinery. No moving vehicles, no signs of life at all.
It was hard to tell from that far away, but it appeared that many of the homes had been burned or otherwise destroyed. The isolated vacation homes of urban retirees were low-hanging fruit for bands of marauders. The bandits who survived the first winter were hardened killers, practiced at stealth, sniping, ambush, and laying siege. All the homes I could see appeared abandoned, but perhaps that was long-range camouflage, crafted to discourage bandits from making the cross-valley hikes. It didn’t pay to advertise your continued survival in times of starvation.
The scope went back inside my coat. I partially unfolded my road map of South Carolina and spread it across my lap, compass on top to orient it, holding them down against the wind. It was from 2008; Governor Mark Sanford welcomed me to the Palmetto State. Once upon a time Sanford had pretended to be an Appalachian Trail hiker. Had he ever stepped foot on it? Now it was miles behind me in North Carolina, and I was heading in another direction, toward the sea.
The city of Augusta was halfway down the Savannah River. Navigation wasn’t going to be a problem, but encountering possibly hostile survivors would be. My map didn’t contain any population information—pre-collapse population, that is—but Augusta was big enough by the look of it on the map. As big as Chattanooga or Knoxville, and they had been horror shows by all accounts. I’d seen enough human bones in the national forests to be able to take the travelers’ words for what had happened in the cities. Atlanta and the other giant cities must have been Dante-esque hells. So what was Augusta like today? Depopulated entirely? Or did it go Mad Max, run by tribal warlords? Would I have to travel wide around it, on foot?
And on the other side of Augusta was an area marked on my South Carolina map as the Department of Energy’s “Savannah River Site.” This was a place where the federal government had made nuclear material for generations, with several nuclear reactors and countless pools full of radioactive rods. What had happened to all that nuclear material after the collapse? And what about the other hundred-odd nuclear plants spread across the country? Maybe I’d leave the river and head cross-country before I reached Augusta, but that was a decision for another day.
While pondering the distant hills, I tongued the gap where I’d removed my top left molar behind the canine. No dentist—just me, vise-grips, and whisky. Would I ever see another dentist? More of my teeth hurt most of the time. The bristles of my last toothbrush were worn nearly to the handle, toothpaste a long-forgotten luxury, a memory triggered by the scent of wild mint. I shot bearings on my compass to the most promising landmarks along my possible routes, and recorded them on the map with a pencil stub, folded the map, and put it away.
Next I removed my little solar-powered radio from my parka’s side cargo pocket. It was made of black plastic and was the size of a thick paperback book, with solar cells along the top edge. I aimed them at the sun and gave a slow turn of the dial on the AM and FM bands. Static crackled from the speaker. The old batteries inside no longer saved enough charge for the radio to make any sound after dark, but when the solar chips were aimed at the sun, the static noise it made proved the radio was still alive on some basic electrical level.
I slowly rolled through the radio bands again and again, straining to hear something besides white noise. There was nothing but static, not even from this position atop a radio tower atop a mountain. The absence of a radio signal on the tower wasn’t proof that no radio stations were broadcasting anywhere; AM radios transmitted more powerfully at night, a frustrating paradox with a solar radio that only worked in sunlight. Maybe I was still out of range of city radio stations.
Maybe when I approached Augusta, my radio would give me some advance warning of organized human activity. Or maybe not. Maybe the solar radio was capable only of producing static under any circumstances. So why didn’t I throw it away as useless weight? I suppose because it was one of the last technological treasures in my universe: a little radio that made static when it was aimed at the sun.
A funny thing about static noise is that you can start to hear things in it that are not real. Auditory hallucinations, Lisa had called them. Streams, waterfalls, and rustling trees can also play music or talk to you, when you’re ready to listen—and when you’re starving, you’re always ready to listen.
The static resolved into repeating fractal patterns, or maybe I was listening too intently. The old Pearl Jam song “Black” crept into my mind as I aimed the solar cells at the sun and slowly rotated the AM dial. The song’s refrain was playing clearly in my head, but I could recall only a few of the words: “And now my bitter hands cradle broken glass of what was everything.”
Why couldn’t I remember more of the lyrics, when the wordless chorus was so clear in my head? I tried to picture the band and the singer, and got nothing at all. They were just a rock band, so what? But I also couldn’t remember the faces of the missing real people in my life. Videos, emails, texts, skypes, youtubes, an infinity of images—all those faces turned out to be mass-deletable, both from the digital ether and from my own mind. I had believed that those memories were permanent and everlasting, and then they were gone in a blink. In my mind, only the faces of Roger and Lisa remained clear.
There were a thousand generations of humanity before the advent of photography, much less emails and the internet. Now even sending a paper letter was an impossible feat. Microchips, radio vacuum tubes, even ordinary flashlight batteries now belonged to the realm of science fiction.
The tower below me had once hummed with power. Down below, the easy copper had been hacked out where optimistic looters were able to get at it. They hadn’t gotten around to the cables in the conduits running upward between the legs before they’d quit. I hoped that the wire they did get did them some good. Part of a salvaged power grid? Bracelets and charms, more likely. The tower and all around it were ruins, already returning to the forest.
An electrical engineer I’d met during the first autumn after the Rupture had given one possible explanation for the cascade of technological disasters. Within a few weeks after the power went out, when the internet and telephones were a memory and nobody was getting paid, management and work crews of critical infrastructure sites began to melt away. With the cities on fire, the government could not keep infrastructure workers chained to their desks, not when their own families were in peril. Even the police and military deserted in droves.
The satellites, unguided by their ground control stations, began to tumble into irretrievable orientations, experienced orbital decay, and eventually came back down to earth. Without satellites, modern communications of almost every kind faltered and failed, and the world was no longer sufficiently knitted together to conduct the necessary technological business of the modern global society.
Billions of people believed that Homo sapiens had achieved a permanent higher station since the retreat of the last great ice age. Unlike destruction by a slowly grinding ice sheet, however, all our technological modernity was swept away in a blink. The last live radio programming I’d heard had been from an AM station out of Knoxville that lasted for a few weeks after the power went out. And there was a canned FEMA broadcast alleging to be from the nation’s capital, but that radio frequency, too, had gone silent.
How had it all happened so fast? I had a master’s degree in history, and I understood enough of it to come up with a few theories to explain what had happened, at least in the broad strokes.
Modern society was engineered for the maximum production of profits, providing the maximum comfort for the maximum population, using mankind’s most cutting-edge technical trickery and marketing magic for leverage. Maximum profits for producing maximum pleasures, and it would only get more maximum forever, as humanity’s greatest minds piled one technological miracle atop another, leading to ever-rising standards of living for most of the world’s billions of people. Onward and upward the towers of our modern cities soared into the sky as the suburbs spread outward and merged.
At least that’s how it was supposed to work. And it did work, for quite a while. But a few novelties unique to our time went almost unnoticed. Never before in history had so many been fed by so few, from so far away. By the end, our cities had grown into traps, with the easy creature comforts they promised as the bait. Billions of people moved into these technological beehives, where food, shelter, and (sometimes) work could be found in close proximity. City life was easier for the worker bees, and more profitable—and more controllable—for the queens.
That is, until the digital blood of the global communications network froze in all its infinite circuitry, and the machinery seized up and jammed in place. Suddenly left to their own nearly nonexistent devices, cut off from the food from distant agro-business farms, the inhabitants of our densely packed cities panicked and looted the stores and other food sources like locusts. After that, if the occasional travelers were to be believed, they literally consumed themselves. It was the modern consumer society’s final stage: Consumer, consume thyself. Did I, myself, see it? No. But what I saw with my own eyes in small-town and rural America left me in no doubt about what had taken place in the cities.
A popular historian from the end of the last century named Fukuyama had referred to the end of history, with an evolved mankind finally the master of the universe and his fate within it. Hardly the master, as it turned out. Instead, for decades we had lived inside an increasingly delicate techno-bubble, floating ever higher on digital money created from thin air, and we believed it was all as permanent as the pyramids!
As a history teacher, I considered it a massive conceit by modern man to denigrate as backward the long-lasting civilizations that existed before electricity, electronic gadgets, wireless devices, and computers. Earlier generations had built the great cathedrals, universities, and defensible walled cities on the surplus bounty of the nearby lands and the manual labor of the local folk. Buildings that have stood through the centuries, monuments to the past.
Modern man built illusions of wealth instead. In the end, the glittering high-definition wall screens were just dream merchants, presenting the convincing chimera of a perpetual cornucopia. But even the illusion of modern wealth was convincing when the abundance reached our doors. Thanks to the modern miracle of global communications and computer networks, the bounty always arrived just in time, from fish captured two oceans away to our daily bread trucked hundreds of miles to our tables. Fresh flowers and succulent fruit from other continents were jetted to our local markets within a day. And we believed it was all real, because it was real, at least for a while.
But the edible products that once filled our supermarkets typically passed through a dozen processing steps in a series of plants and factories before their final delivery. It was a networked ballet choreographed by powerful computers across thousands of miles. All the purchase orders and inventories existed somewhere in the cyber cloud. All payment was by electronic fund transfer, with digital currency zipping along optical fibers and between microwave antennas on mountaintops and satellites in space. Paper had disappeared so long ago that it didn’t even exist as a meaningful backup. At best, it was used for in-house emergency record keeping, and was useless for conducting modern trade.
For those millions of people without sufficient money, the government thoughtfully zapped electronic dollars onto their Electronic Benefit Transfer cards. Money for nothing, and your kicks for free—what could possibly go wrong? Especially with so many millions of the welfare recipients packed tightly into cities where nothing grew except illiteracy, crime, and rage.
A global delivery system optimized by the power of high-speed computation was a modern miracle that turned into a curse when it disappeared. The global network’s undeniable efficiency was a tempting siren, a fatal mirage that lured its victims into barren deserts or out onto stormy seas, far beyond safety or even rescue.
There was not enough food in the warehouses to endure seven weeks of famine, much less seven years. The perfection of the just-in-time delivery system meant that, like the finest Swiss watch, it had to work perfectly or it would not work at all. Like binary code: one or zero. All or nothing.
Any critical step collapses, any vital link fails, and the chain may break. At the Rupture, dozens of steps collapsed at once, and the entire machine stalled and ground to a halt, beginning with the hundreds of thousands of freight-carrying eighteen-wheelers that ran out of diesel fuel within a matter of days. They were looted and stripped to the axles where they came to rest.
It was a little better at first in the rural and semi-rural areas, at least as far as I had personally witnessed in Tennessee and North Carolina. Farmers with trucks that still ran could take their produce to market, for as long as they had fuel. They just couldn’t get paid for their efforts. Hand-written IOUs and good intentions can’t buy gasoline or diesel fuel from looted stations. Or animal feed or crop seed, or anything edible to humans.
What was the name of that pop star vixen at the last Super Bowl? She was wearing a dominatrix outfit with shiny sharpened rivets in the usual places. And where did she come by her Aldous Huxley, singing “hug me till you drug me, kiss me till I’m in a coma,” nearly word for word from Huxley’s Brave New World? No doubt she’d never read a book in her life, much less that one.
Before the collapse, the high-def screens had allowed each watcher to choose from a virtual infinity of customizable fantasies, but there was usually nothing behind those magical glass windows but a plasterboard wall and another stark habitation cubicle built the other way around for the next inhabitant over. Within the dying hive there was no incoming food, fuel, or running water. Not even electricity to move the stale air.
Soon after the screens went black, the pharmacy-dispensed medications ran out as well, the cold-turkey withdrawal pouring more fuel on our raging social fires. Our Brave New World featured Huxley’s “Christianity without the tears,” until the Soma was gone. A gram is better than a damn, until there are no more grams left but plenty of damnation to go around—and people are damned mad when they’re starving.
If you ask me, looking back, our society went mad long before the Rupture. Who could honestly believe that modern first-world economies could continue to borrow half their annual operating costs from their own future generations, and from foreign banks and foreign governments that were likewise borrowing from their future generations? When in history has that sweetly delusional practice ever lasted more than a few generations before cracking up? Never, that I am aware of.
Frankly, for the rapidly diminishing minority of us left who were neither mathematically nor historically illiterate, the years before the Rupture were like living on the slopes of Vesuvius around AD seventy-something, while sniffing the stink of sulfur on the wind. What’s all that smoking and rumbling? a few of us asked. Smiling mainstream media news anchors answered: We’re not sure, but rest easy. Top government experts are studying it, and they will have a full report ready soon.
In the meantime, pop another Soma and switch back to Celebrity Nation. A gram is better than a damn, so why not make it two? Who needs old-fashioned morality when we have fashioned a brave new reality better suited to our own modern tastes? New and improved, by Ford! Just Google it. Remember Google? Gone with the wind.
I’m just a former world history teacher, but I believe that the edifice of Western Civilization was already rotten and hollowed out long before the final collapse—and it was an inside job by cultural traitors. The final toppling required only a light touch. By the end the Fabians’ disciples in politics and education had rendered Western man impotent, emasculated, ridiculed for his very maleness. Men were unneeded and unwanted by the brave new world’s brave new mommies.
And what of modern woman? Increasing numbers were too busy with their newly unleashed career opportunities and personal ambitions to have children. Or they were simply too busy partying through their fertile years to bother to produce a next generation. And if a modern woman still wanted a human baby for a pet or a social statement or as a passing whim, a turkey baster and a petri dish could do the trick just as well as those vestigial appendages of the human species, those stinking Neanderthal knuckle-draggers formerly known as men.
By the end, boy toddlers were suspended from school for pointing their fingers like guns: their brainwashing couldn’t begin too soon. What a disaster for the progeny of the ancient Saxons, the Celts, the Vikings, the Normans, the Gauls, the Franks, and all the tribes who built the great universities and cathedrals of Europe!
In the end their offspring were reduced to the degraded state of reservation Indians, fed a hundred brands of Soma and Victory Gin, legal by prescription or illegal with a wink, knowingly led into the fatal addiction of welfare dependency. Turn on and tune out; nobody will judge you. The smiling government agent will both purchase your Soma and pay you for your perceived disabilities out of the same bottomless digital bank.
The cultures that built the cathedrals and universities of Europe were deconstructed and defeated from within by the prophets of post-modern anarchy and nihilism, a priesthood of elite traitors who knowingly poisoned the vigor of their own once-proud societies.
Sufficiently weakened, these cultures were then beset from without by the disciples of a seventh-century madman who fashioned a cult of desert pirates so cruel and destructive that its most faithful adherents ban music, burn and blow up ancient churches, obliterate statues of the Buddha with artillery shells, and stone victims of rape to death for adultery. These alien desert pirates had been ushered through the city gates by the same Fabian traitors, who, not up to the ultimate job of strangling their own cultures, allowed its final assassins to infiltrate and amass to strike for the kill.
Jean Raspail, where is your Camp of the Saints today? Our civilization disappeared in the long night, leaving us strangers in our own newly strange lands even before the final Rupture that tore everything and everyone down—rich and poor, saints and sinners, the good, the bad, and the ugly alike.
In the crisis that befell us, metrosexual males who recently obsessed over their own appearances couldn’t even protect themselves, much less any stray women, orphaned children, or the lost elderly of their extended clans. These pitiful Peter Pans perished outright, or they were captured and enslaved, abused without mercy, and finally consumed for food. Mohicans every last one, their tribes were not even mourned in extinction, because they were already launched upon a voluntary-human-extinction project even before the electronic coup de grace was applied.
We were a generation too busy staring at shimmering pleasure screens even to reproduce, until the moment that the fantasy windows winked to black and reality crashed down. A great truth was learned, too late: pixels, bytes, and digits do not endure when the networks driving them explode in clouds of zeros and ones and disappear forever.
And no disappearing digits loomed larger during the Rupture than those on 50 million “Electronic Benefit Transfer” food-stamp cards. The wisdom of a thousand generations of hard reality teaching stern frugality had been wiped out, encouraging generations of near imbeciles to reproduce without limit—as long as those warm bodies could be rendered into votes for the Big-Government Party (left and right versions). “It’s free, swipe your EBT” became a mantra of the age. It was racist to protest.
Instead of the historical level of under 5 percent out-of-wedlock births, guaranteeing a strong foundation of family life to undergird each new generation, we’d rocketed to an unprecedented rate of over 50 percent, the first Bastard Nation in modern history. Some 90 percent of the men incarcerated in prison were raised by fractured family fragments, and often didn’t know their own fathers. We shrugged these facts off as insignificant byproducts of modernity, and partied on.
Natural laws learned over thousands of years were mocked, ridiculed, overturned, and even outlawed. Toward the end, homosexual drill sergeants prowled the barracks grooming receptive teenage recruits. Hey, we were told, it’s their business, and who are you to judge them? Later, they could get married in the post-interfaith worship center by a military spiritual advisor (“chapels” and “chaplains” having been purged from the lexicon for favoring the Christian faiths) and then move on to adopting children.
And finally, the last old-guard bunker to fall: the Boy Scouts, completing the cycle of government-approved sodomite corruption. For a century the Scouts were morally straight? According to whose definition of straight? So why shouldn’t adult homosexual Scout leaders share tents with teenagers in our brave new world? Don’t be a homophobe, we were told. Each child can make his or her own free choice about their gender identity, but now with helpful adult mentors to guide them along the formerly forbidden paths.
If it feels good, do it. Or have it done to you. Or even do it unto the little children. Tommy wants to become Tomasina before heading to kindergarten? Her brave new mommy agrees? A government-provided surgeon will perform the “gender reassignment” operation. And if kindergarten isn’t soon enough to put the kids on the unrepressed road to gender identification, then start them on Heather Has Two Mommies and Prince and Prince cartoon books in the government-subsidized day care centers.
Smiling experts assured us that we were merely throwing off the shackles of our repressed sexualities. Dissent is hate, and hate is not tolerated around here, mister, so shut up and get with the program. Well, I couldn’t get with the program, so I quit my public high school job. As a world history teacher, moving from a public school to a Christian academy (at less pay and fewer benefits) gave me a couple more years of insulation from the social wreckage cascading down.
I kept looking up for the big asteroid, but we didn’t need God to smite us from outer space. In the end, we smote ourselves with our hubris, believing that we were replacing God’s wisdom with our own. The proud decadence and in-your-face cultural perversions didn’t cause the Rupture, but they were surely flashing red signs warning that the end was near.
It must be the history teacher in me who always seeks historical precedents and comparisons. The former USSR, with the full power of a mass-murdering totalitarian state behind it, attempted for seventy-five years to create a new society of atheist but socially altruistic New Soviet Men—and failed utterly to achieve it. The Soviets considered this a goal worth slaughtering tens of millions of their countrymen, and they still couldn’t achieve it. Not even across four generations and with an entire archipelago of Gulag slave labor camps.
But not even the mass-murdering Soviet rulers were foolish enough to attempt to outlaw sexual differences and mandate a New Genderless Person in the name of perfect political correctness. What sane person in the United States could possibly have thought that our own vastly more ambitious experiment in social re-engineering would turn out any better than the simpler economic revolution attempted by the USSR?
Our modern human folly is so easy to understand in retrospect. A gullible generation or two can be brainwashed into believing that up is down, that there is no absolute wrong or right, and that the old natural laws can be abolished according to the social and political fashions of the age.
But of course even widely held false beliefs are not the same as the truth. The belief that the law of gravity has been repealed as being unfair to the heavy can easily be tested with a single step away from a cliff. The enduring truths of other supposedly outdated natural laws took longer to test, but in the end the proofs were just as conclusive, and just as fatal, but on a much vaster scale.
When the Rupture occurred, it had been a hundred generations since Jesus carried His cross up Calvary. What a conceit of history to believe that we, uniquely among the generations that had come before, had mastered the Four Horsemen of the Apocalypse and put them behind us for all time. Health and hunger reduced to economic equations and tax policies. Fukuyama’s End of History.
We believed that we had created a Brave New World, where candy-cane lies and Santa Claus promises could trump hard reality at the election booth every two years. But if all good things must come to an end, how much sooner must the corrupt and the unreal collapse into rubble and tears? Imbalances so great, in a machine running at such a high speed, could only result in calamity when the connecting struts gave way and the beast flew apart.
When was the last generation that saw such a population drop as after the Rupture? When was a population reduced to such a point that nobody was in a position even to estimate it? The Black Death of the 1300s reduced Europe’s population by a third, but even that wasn’t a truly global event. Cromwell’s invasion of Ireland in the 1600s? The Thirty Years’ War in Europe? Paraguay in the 1860s? As horrific as they were, those democides were localized events.
But what in God’s name is happening in America’s cities, if not a word comes out of a solar-powered radio high up a mountaintop tower, and not a single jet contrail can be seen across a sapphire blue Southern Appalachian sky?
Or is it me? Have I survived past my due date in remote isolation, like the Japanese soldier who hid in caves on Guam, unaware that World War II was long over? But if that’s the case, then why can’t I see a moving vehicle, or a waft of smoke from a distant ridgeline?
Oh, what I’d give for an hour-long hot soapy shower to erase three years’ worth of stink! I want to throw away these rancid buckskins and change into clean, dry cotton. Then slip between clean, dry sheets and sleep without fear for a dozen hours on a soft mattress and pillows. Then wake up and put on new clothes that were not cut off of corpses and crudely resewn, or made from animal skins. Oh, to rejoin civilization, if it still exists! Knight-errant seeks castle. Will teach a variety of subjects for room and board. Make me an offer.
I spent two months of my second snowed-in winter with only a Bible for a companion. This experience had left random Bible passages liable to float up into my mind at various times, like the suggestions in a Magic 8-Ball. Passages like Romans 1, for example. Then there was something in Psalm 106 about the Canaanites killing their own babies in order to pursue inventions and go whoring. The God of the Bible was not pleased in either case. There was one from Revelation — where else? — that came into my mind.
“Standing far off for the fear of her punishment, crying Alas, that great city Babylon, that mighty city, for in one hour your judgment has arrived!”
The new Babylon was a place where modern man grew so mighty—in his own estimation—that he replaced God’s hard-learned natural laws and eternal rhythms with his own latest impulses and basest desires. The new Babylon was where mankind gorged its morbidly obese body and deconstructed spirit on endless food and limitless pleasure, grew like a maggot fattening upon the bloating corpse of Western Civilization, and then burst and devoured itself in a final death-feast.
The man-machine social engine believed that it had become God, but all man-made constructions are imperfect. The bridge to the future supporting humanity’s billions of lives was built of pixie dust suspended in the ether by magnetism. It all shattered to atoms when the props were kicked out from under the whirling techno-machine, and we all had to live on what we could grow or raise within our eyesight without murdering each other.
It had to happen sooner or later, and it happened sooner. We couldn’t even pump clean drinking water without electricity. Electricity was the oxygen we breathed, and without our technology, we died like stranded astronauts on an abandoned space station. Ground control to Major Tom, your circuit’s dead.
The primary lesson I have learned over the past three years is that it is much harder to build and sustain a stable and functioning civilization (even an admittedly imperfect one) than it is to destroy a pretty damn good civilization in the name of establishing utopian perfection by government decree.
And maybe if we hadn’t gone insane first, we might have kept it all running for a while longer.
Modern mankind’s quest for utopian perfection was a form of mass delusion. Computers lent a veneer of artificial wisdom, but they were simply powerful yet fragile tools, tools which extended our society far out over a worst-case precipice. In the end the price of computerized perfection was all or nothing, and in the pursuit of all, we wound up with nothing. The glittering screens were pretty while they lasted, but they turned into broken glass in our bitter hands.
We were led into the desert by sirens, luring us there with mirages. Alas, our brave new Babylon!
Now it’s time to descend from this broken tower and get moving again toward the sea. My route is laid in a series of compass bearings that eye-level terrain will prove laughable within a mile. No matter: it won’t take a Davy Crockett to find a river and build a raft. Southeast fetches the Chattooga River and my possible deliverance.
Adjusting my bow, I went to all fours on the cold steel grating and crawled toward the rungs. For a moment I was facing toward the path I had hiked up the snowy slope. On the far side of the tumbled upper sections of the radio tower was a line like a zipper in the thin snow, where footprints had melted and exposed the dark leaves beneath. My own fresh prints on the near side were not melted. We had either crossed trails a few days ago, or we might sometime in the near future. I was down the rungs and into the trees like a weasel, feeling watched every moment.
Now, southeast goes the hunter — after a closer look at those tracks.
Matthew Bracken is the author of the Enemies Foreign and Domestic trilogy, Castigo Cay, and The Bracken Anthology, which includes “Alas, Brave New Babylon.” The author gives permission to copy and reprint the whole story, as long as proper attribution and link-backs are given.
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On 27 May 2014 global business leaders gathered at the Mansion House and Guildhall in London to attend the Conference on Inclusive Capitalism: Building Value, Renewing Trust. The Conference was hosted by the Lord Mayor of the City of London and E.L. Rothschild and organised by The Inclusive Capitalism Initiative and the Financial Times.
The Conference on Inclusive Capitalism: Building Value, Renewing Trust
The Conference on Inclusive Capitalism on 27 May 2014 has been created by The Inclusive Capitalism Initiative in order to bring together global leaders from the top institutional investors, asset managers, corporations, sovereign wealth funds and financial institutions to define concrete steps that all of modern capitalism’s stakeholders can take to renew trust and deliver better social and economic outcomes for all.
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