Tag Archives: economy

Porkins Policy Radio episode 122 The economy, Bitcoin, AI, and Christmas with JP Sottile and Aaron Franz

Friend of the show JP Sottile joins me in the first hour for an in-depth discussion about the recently passed tax reform bill in the House. We talk about what this reform package is promising and what the possible outcomes may actually be. JP discusses how this will ultimately benefit the richest of the rich in America, while most likely punishing the rest of the nation. We analysis the GOP’s strategy with pushing this wildly unpopular bill. JP and I discuss the idea that this may be part of a longer term strategy of ousting Trump from power. JP touches on Bannon’s attempts to tax the rich more and how this was rebuffed by the Republican establishment. Later we talk about how this may result in the GOP being out of power for some time. We then move onto a discussion of Bitcoin and how this has become the story that everyone is talking about. JP and I link this in with the tax reform bill and the financialization of the world economy. We talk about the idea of Bitcoin being a bubble and the logical result of our highly financialized world. JP and I also touch on the creepy transhumanist aspects of Bitcoin. We talk about the transhumanists behind Bitcoin, and how the embrace of it maybe a prelude to more transhumanists transitions. We end by briefly talking about Trump’s bizarre water drinking habits, and the rumor this is related to possible drug use.

I start off the second hour by talking about my show being reported in major news outlets including the Palm Beach Post and Daily Mail. I discuss how the mainstream media reported on my interview with F Lee Bailey and Pat McKenna, and some of the positives and negatives. Later good friend Aaron Franz joins us to discuss some of the strange occult aspects of Christmas. Aaron talks about the winter solstice’s connection to Jesus and the story of Christmas. Aaron and I also touches on the occult nature of buying a Christmas tree itself. We talk about strange ancient Greek castration practices under evergreen trees. We talk about the life and death ritual of buying a Christmas tree. We then move onto the most recent news stories about AI, focusing mostly on Sophia, Ben Goertzel, and SingularityNET. Aaron talks about Goertzel’s role within SingularityNET and his promotion of the BlockChain. We also talk about the strange rise in acceptance of sex robots and how this could be a pernicious development for society as a whole.

Download PPR episode 122

Show Notes:

Newsvandal

House will have to vote for tax-cut bill again

Coinbase Halts Bitcoin Cash Trading Abruptly After Exchange Launch

Age of Transitions

SingularityNET

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Gold Baffles Bernake by James Corbett

This is an article that James Corbett just wrote of the International Forecaster, which he also edits.  I wanted to put up whole article here because in one page James Corbett is able to debunk a lot of the tired old myths about gold, and why central banks denigrate it constantly, while they are buying it up like hot cakes.  Original article here.
By James Corbett

Bloomberg launched a peculiar arrow from its quiver of propaganda this past Monday. For this one, they dug into the archives for a quotation from Chairman Ben of the Fed about how he doesn’t understand gold:

“Bernanke, who holds economics degrees from Harvard College and the Massachusetts Institute of Technology and led the Federal Reserve through the biggest financial disaster since the Great Depression, told the Senate Banking Committee in July that ‘nobody really understands gold prices and I don’t pretend to really understand them either.’”

This is a particularly odd (and predictably transparent) propaganda piece from the Bloomberg boys, as the quotation in question, the one that they build their whole story around, is now three months old. Why suddenly bust it out of the bag of tricks at this particular juncture? Well, to badmouth gold, of course! And just look at all those impressive degrees that the revered leader of the Debt-enslaved world has to his name, prestigious pieces of paper from Harvard and M.I.T. demonstrating his superiority over the common folk. Well, shucks, Bloomberg, I guess if Bernanke can’t figure out gold prices then no one can.

Of course, it could be that “nobody really understands gold prices” not because they inhabit some strange strata of the economic universe where the laws of economics fail to apply, but because the price is heavily manipulated from top to bottom, as has been painstakingly outlined by GATA and other organizations over the years. But that sounds like an explanation, and we can’t have that. Let’s just stick with the “nobody understands it” line and hope no one bothers to dig deeper.

The rest of the story is not much better. It goes on to detail (quite rightly) that the world’s central banks have been buying gold at a blistering pace, including 535 tons of it last year, the most central bank gold buying since 1964. But it then goes on to talk about how much value gold has lost since its September 2011 peak, and how those central banks are basically big bozos for betting big on bombing bullion. No consideration whatsoever to the idea that the central banks are preparing for an economic reality that has not been priced into gold as of yet, a future of their own making.

Could it be that central banks know something that the average day trader doesn’t about the reckoning that is due on the largest bond bubble in history, one that those self-same central banks have consciously created?

Could it be that central banks know something the talking heads don’t about the impossibility of tapering from the Fed’s QE heroin, and that the Fed is now committed to a game of chicken with the brick wall of total collapse?

Could it be that central banks of certain countries are working behind the scenes to capitalize alternative development banks and other ambitious financial projects that might form the framework of a new monetary paradigm for the 21st century, one that eschews the dollar for a basket of gold-backed BRICS currencies?

Could it be, in other words, that the central bankers really do understand that the gold price as it stands in today’s dollar denomination represents a prime buying opportunity?

No, that can’t be right. After all, if that were the case then I’m sure we could all rely on Chairman Ben to tell us so and the good folks at Bloomberg to reliably report it. Right?

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