The “ignorance is bliss” doctrine in action

I recently bumped into a shocking website here.

So lets see, the federal reserve lent banks, including non-American banks $16,000,000,000,000.00? Why is this not news? Why did I find this on the panfully spurious beforeitsnews.com, rather than on the national news? (This story even fell off of beforeitsnews awfully fast — for $16 trillion.)

A couple of other interesting points:
1 – The link above is a .gov website (www.sanders.senate.gov) Its got the authority of a U.S. Senator.
2 – The report contains a copy of the auditor’s report adding authority to the story.
3 – It is clear that the fed never intended to have this information go public. A secret 0% loan is hardly likely to ever be paid back — this was intended to be a GIFT!

My opinion:

The news medias recognize that the discovery of a fresh printing of $16,000,000,000,000.00 could produce devistating results in our economy. They are therefore hoping that by not sharing this story they will save the country and the world from the consequences of this information. Ie, ignorance is bliss.

And what has that got to do with LENR?

Oh yea, if (when) the world discovers that LENR is for real, it will be the death knell to 20% of the economy. That will rock the economic boat.   As this boat is teatering on the edge of tipping over, we don’t need to rock the boat. The solution? Ignorance is bliss.

That, folks, is the best reason I can find that LENR is being kept off the front page. The arch nemisis of the “ignorance is bliss” doctrine, unfortunately, is the unstoppable internet.

<— To main blog

About these ads

Tags: , ,

21 Responses to “The “ignorance is bliss” doctrine in action”

  1. Simon Derricutt Says:

    Bruce – look at http://www.usdebtclock.org/ and guess what – the US debt is also $16 trillion.

    Although you are right that LENR will make a major change, the consensus here a while back was that it would take at minimum 5 years and probably a couple of decades before everything was changed over. It’s really not that negative for the economy, but it’ll cause a major shift in where the money goes in a few years’ time. Suddenly there’ll be a whole new industry taking on people to make new stuff, and there’ll be a market for it too.

    I still think the main reason for LENR being sub-fusc is that politicians have been told a lot of times it’s not real, and the solid evidence that it’s getting towards being commercial is only very recent. It takes a while for people to change their ideas.

    • brucefast Says:

      I’ve been tracking the debt very closely, though I use http://www.brillig.com/debt_clock/. I like their non-estimating approach, updating from the government reports daily.

      While it will take 5 to 20 years to produce the change over, economic impacts will be felt no later than the day that a market-ready product is revealed. Consider the prospects of building a pipeline, a refinery, a hydroelectric dam, or putting in a wind farm. All of these expect a 50 year payback. Why would one want to build something that is slated to be obsolete.

      North America does not have enough oil refining capacity to meet the need. What will amount to a moratorium on new refinery capacity will not bode well. Factor into that the fact that crude oil should drop in price immediately. After all, Saudi Arabia will recognize that their product suddenly has a shelf-life. They will surely want to sell as much product as they can before it becomes useless.

      So now you have lowering crude prices, so increased demand, but you can’t refine the stuff fast enough to keep up with it.

      And what is India going to do when they experience the clash between an need for a new electrical grid, and the prospect that the new grid will be obsolete in a decade?

      Even a 20 year window to 50% energy replacement by LENR is likely to produce ripples in an already dicey economy really rather quickly.

  2. Bob Says:

    I find it most interesting that the excesses of the FED are reported by Bernie Sanders, yes a congressmen, but an avowed communist. Amazing where the truth will come from.

    This 16 Trillion was printed out of thin air and is backed by US taxpayers, unknown to them with no vote or say in the transaction. I think the people should force an end to the FED and refuse to cover any bank shortfalls. The banking elite need to learn a very important lesson.

    Almost every government and bank has over lend beyond their capacities, now they just move money around the loop, not really fixing the problem. I think the world is headed for a crash, its a race to see if Europe or the US will start the crash.

    • brucefast Says:

      “This 16 Trillion was printed out of thin air…” Yup.
      “now they just move money around the loop, not really fixing the problem.” Yup.
      “I think the world is headed for a crash, its a race to see if Europe or the US will start the crash.” Yup.

      And you, Bob, are sitting in a pretty safe spot — acreage. I am sitting in a reasonably safe spot — Canada. Where is it safe from the economic equivalent of a nuclear winter? Well there is that.

      • Bob Says:

        I think your in about the best spot possible, good hunting and fishing and few people. It will be good to live in sparsely populated areas. I just hope half the US doesn’t head for Canada when all the bad happens.

        All you need to assure reasonable comfort is a LENR heater. Lets hope that’s possible before the fall.

      • Iggy Dalrymple Says:

        I’m beginning to wonder if we’ll ever be allowed to own domestic e-cats. The grid is their leash on us.

        Yes, it would be wise to stash some dehydrated food and some ammo.

        Can’t remember if I’ve posted this:

        The Social Security Administration (SSA) confirms that it is purchasing 174 thousand rounds of hollow point bullets to be delivered to 41 locations in major cities across the U.S.
        ~~~~
        The National Oceanic and Atmospheric Administration (NOAA) has ordered 46,000 rounds of hollow point ammunition. Notice that all of these purchases are for the lethal hollow nose bullets.
        ~~~~
        In March DHS ordered 750 million rounds of hollow point ammunition. It then turned around and ordered an additional 750 million rounds of miscellaneous bullets including some that are capable of penetrating walls. This is enough ammunition to empty five rounds into the body of every living American citizen.
        http://www.washingtonsblog.com/2012/08/major-general-why-have-government-agencies-recently-purchased-enough-specialized-for-killing-ammunition-to-put-5-rounds-in-every-american.html

      • Iggy Dalrymple Says:

        Where the money is spent.

      • brucefast Says:

        My biggest concern is Americans turning these parts into a new gold rush. I have done some stocking up, and plan to do more. I’ll be moose hunting starting the 17th. Man I need a moose badly.

  3. Bob Says:

    I think the government is preparing for the crash, they know its coming and know that when money has no value and trucks stop delivering food it will be a dire situation. There will be starvation, looting and robbery. The only way to prevent total mayhem is to lock everything down and make everyone play by there rules. It will be so serious that they shoot to kill (hence the hollow points)

    They don’t want everyone bugging out and going to the hills, so I think thats why they are shutting down roads in the mountains and putting mountain area off limits. That’s how gorilla wars start!

    Hollow points are outlawed for war!
    The government has has thousands of highway check booths made that are bullet proof, that’s a bit strange.
    Almost every part of the country has seen an increase in troops training for civil action, even though its illegal for troops to take action in the US.
    There are new troop camps quietly being built at key points around the us, I’m sure its a coincidence.

    Its getting very hard not to think like a crazy man when there are more and more dots to connect every day. I have my theory whats happening, whats everyone elses, just too many things going on..

  4. brucefast Says:

    Oh, um, the recipients of this handout:

    Citigroup: $2.5 trillion ($2,500,000,000,000)
    Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
    Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
    Bank of America: $1.344 trillion ($1,344,000,000,000)
    Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
    Bear Sterns: $853 billion ($853,000,000,000)
    Goldman Sachs: $814 billion ($814,000,000,000)
    Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
    JP Morgan Chase: $391 billion ($391,000,000,000)
    Deutsche Bank (Germany): $354 billion ($354,000,000,000)
    UBS (Switzerland): $287 billion ($287,000,000,000)
    Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
    Lehman Brothers: $183 billion ($183,000,000,000)
    Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
    BNP Paribas (France): $175 billion ($175,000,000,000)

    And more… All this is listed on page 13 of the audit.

  5. Bob Says:

    Those are mind numbing numbers, for banks that are supposed to be solid.

    The derivatives market exposure has been estimated to be somewhere between 250 Trillion and 500 Trillion from the numbers I have seen. The banks can’t begin to cover those numbers if things go south. This doesn’t even count the government debt and pension shortfalls, everywhere you look its debt stacked up and no way to pay.

  6. Nathan Says:

    What? They didn’t have the same cast members for part II? Poot, I liked the first Dagney Taggart.

  7. Henning Dekant Says:

    While the general public has been kept in the dark, investment sites such as safehaven.com have been covering this. American news media is so dumbed down I don’t believe in a conspiracy, rather an editorial decision that covering yet another car chase gets more viewers.

    This was an emergency loan facility to make the banks whole again that had to write down enormous losses when the CDO toxic waste finally blew up.

    All these banks were technically insolvent when the crisis hit. Hence lending activity completely froze up even letters of credits for shipments. I.e. this in one fell swoop had the potential to bring the world economy to a complete stand-still. There is a reason why they call these banks too big to fail.

    I am not saying that the FED had any right to do this, but if they hadn’t this would have made the great depression look tame. They unfortunately didn’t have much of a choice. Once the sh** hits the fan all you can do is clean it up. The real cardinal sin is that after this went down no bank executives have been held accountable, no bank has been broken up, and the additional regulations were watered down. Anybody surprised that these banks are now again playing the speculative derivative market?

  8. Bob Says:

    @ Dekant – great comments. The banks are still in bad shape the the government has conveniently allowed them to not carry some of their bad debt n the books. They are teetering again and when someone nocks over one of the cards it will fall, only this time there will not be enough money to prop them up. We need to stop the FED from even trying, all they are doing is digging a deeper hole.

  9. Anthony Scalzi Says:

    It ended up on NBC’s website last year, although it was only 8 trillion at that point.

    http://bottomline.nbcnews.com/_news/2011/11/28/9067808-fed-lent-banks-nearly-8-trillion-during-crisis-report-shows

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


Follow

Get every new post delivered to your Inbox.

Join 69 other followers

%d bloggers like this: