Wiser Words Were Never Spoken

An attempt to control the rates for call loans by the establishment
of an arbitrary limit at a low level, without the
ability to modify the causes above enumerated, which operate
to increase rates, would be distinctly hazardous, for
the reason that up to the point where the arbitrary rate
would limit the supply of new money, speculation and expansion
might proceed unchecked and the natural elements
of correction or regulation would not obtain. In
other words, high rates act as a deterrent to over-speculation
and undue expansion of credit. On the other hand,
should the supply of money available at a fixed maximum
rate become exhausted, liquidation might suddenly be
forced, because the demands for additional accommodation
for the consummation of commitments already made could
not be met. The effect of such liquidation would be to
embarrass not only investors and dealers in securities, but
frequently might affect dealers and merchants in commodities
as well.

Federal Reserve Bulletin, April, 1920

“Over-speculation and undue expansion of credit” is the only thing holding up the present-day stock bubble in the United States. Graph below:
s&p500margin
Since 1991, there has been less and less average stock market wealth per average dollar of margin debt on the New York Stock Exchange.

Advertisements

Seventh Iraq/Syria Map

inaqisyriamap7
The ISIS begins surrounding Baghdad from the South and captures the Iraqi desert to reach the Jordanian border. The desert in Syria is much more difficult to capture as the Syrian military understands it to be an essential frontier between the non-government controlled Euphrates Valley and government-controlled south-western Syria. The desert serves no such function for the Iraqi government and can, thus, be used by the ISIS to carry out interventions in the Kingdom of Transjordan. Might Jordan stop aiding the Syrian rebels now? The desert does serve as such a frontier for Jordan as it does for Syria.

Obviously, the ISIS won’t capture Baghdad, but I’m leaning toward the possibility that it might assault the city. I am not taking the recent news of U.S. advisors having been sent to Iraq seriously, as Obama has been shown to be pro-ISIS through and through. There is no chance of the Iraqi government recapturing Nineveh within the next month unless the Kurds do it for them.

Anti-Iranism Reason for U.S. Complicity Regarding the ISIS

It is as I suspected- the Obama administration’s complicity with the expansion of the ISIS in Iraq is due to its mission to remove moderately pro-Iranian Prime Minister Nouri al-Maliki from power and install a more pro-Saudi Iraqi Prime Minister. The U.S. denouncements of the supposed sectarianism of Maliki (which is mostly not to blame for this recent ISIS expansion) are undeniably merely a smokescreen for conflicts regarding more fundamental economic interests. I do not know what these interests are at present, as that would require days of sifting through noise to find some hint of a signal, but I do know that they must exist and that information regarding them can almost certainly be found online. As a rule of thumb, a typical relevant Wikileaks cable is twice or more as informative as a typical relevant think tank or news article about events in the Middle East. Curiously, the mainstream media is much more comfortable with discussing fundamental economic issues (e.g., natural gas, European markets for Ukrainian goods) as they relate to recent events in Russia and Ookrayeena. This fact has been successfully satirized by an excellent Lebanese-born British Christian satirist.

Ancient Egyptians Needed No Power Tools

The entirety of the very enlightening book Experiments in Egyptian Archaeology is available online. One of its conclusions is that copper tubes, rope, wood, and dry sand are sufficient to create a drill that can create circular holes in granite. Read it! Then counter the pyramidiots!