Chris Martenson
In Part II of Chris' shocking interview with Bill Black on the extreme vulnerability that our economic system has to fraud (click here for Part I), the discussion deepens, exploring a number of disturbing topics including:
- Why there is such a crisis of accountability today
- Why future fraud-driven crises are inevitable if status quo continues
- What strategies are needed to reduce the prevalence of fraud
Bill Black (Part II): A Mess of Our Own Making
PREVIEWIn Part II of Chris' shocking interview with Bill Black on the extreme vulnerability that our economic system has to fraud (click here for Part I), the discussion deepens, exploring a number of disturbing topics including:
- Why there is such a crisis of accountability today
- Why future fraud-driven crises are inevitable if status quo continues
- What strategies are needed to reduce the prevalence of fraud
True Prosperity
by Chris Martenson
Tuesday, April 17, 2012
Executive Summary
- Why once you understand the oil situation, you understand how systemic change is inevitable
- Why to expect a major financial crisis this year
- Why now is the best time to understand what true prosperity is (beyond just money), and how it should shape your priorities in advance of the coming changes
- Our guidance on where to focus your efforts most for the greatest returns
Part I: The Trouble with Money
If you have not yet read Part I, available free to all readers, please click here to read it first.
Part II: True Prosperity
In understanding material wealth, the role of energy — and particularly oil, in today’s world — is hard to underestimate.
Primary Wealth
This point cannot be made often enough: Oil is responsible for everything we see around us.
This means that oil is responsible for most everything we might think is delivered by our economy. Which means that oil is the source of nearly all wealth.
As Gregor Macdonald recently penned for us in an excellent report:
True Prosperity
PREVIEWTrue Prosperity
by Chris Martenson
Tuesday, April 17, 2012
Executive Summary
- Why once you understand the oil situation, you understand how systemic change is inevitable
- Why to expect a major financial crisis this year
- Why now is the best time to understand what true prosperity is (beyond just money), and how it should shape your priorities in advance of the coming changes
- Our guidance on where to focus your efforts most for the greatest returns
Part I: The Trouble with Money
If you have not yet read Part I, available free to all readers, please click here to read it first.
Part II: True Prosperity
In understanding material wealth, the role of energy — and particularly oil, in today’s world — is hard to underestimate.
Primary Wealth
This point cannot be made often enough: Oil is responsible for everything we see around us.
This means that oil is responsible for most everything we might think is delivered by our economy. Which means that oil is the source of nearly all wealth.
As Gregor Macdonald recently penned for us in an excellent report:
"I always tell people when they look at their bank account, they think they have got maybe $50,000 in the bank. It says $50,000 CR. Credit.
You are a creditor. It is the bank’s property, that $50,000. And they recognize in that document that they owe it to you.
So, you have to watch out for that word 'creditor'. When you see CR, you are on the balance sheet. You are at risk."
So says Paul Tustain, founder of BullionVault and advocate for minimizing counterparty risk in a world of rehypothecation and 100-to-1 leveraged paper markets.
Paul Tustain: Be Wary of Balance Sheet Risk
"I always tell people when they look at their bank account, they think they have got maybe $50,000 in the bank. It says $50,000 CR. Credit.
You are a creditor. It is the bank’s property, that $50,000. And they recognize in that document that they owe it to you.
So, you have to watch out for that word 'creditor'. When you see CR, you are on the balance sheet. You are at risk."
So says Paul Tustain, founder of BullionVault and advocate for minimizing counterparty risk in a world of rehypothecation and 100-to-1 leveraged paper markets.
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