6/21/2013 Portland, Oregon – Pop in your mints…
A quick peek at the financial markets over the last two days may lead one to think the world is ending. From what we can tell, investors are attempting to front run what they perceive to be an earlier than anticipated FED exit from its unprecedented support of the Bond market to let it fend for itself.
Lest us be clear, the Federal Reserve will not exit when anyone expects it. The mere prospect of it, which began to transmit itself through the markets on Wednesday, caused Treasuries to collapse towards normal and overnight lending in China to seize up while leaving equities and commodities as collateral damage. M1 even managed to collapse again to $2.4 trillion. These are hardly long-term (or short-term, for that matter) Fed goals.
If Fed history is any guide, it shows that the Fed knows absolutely nothing. For example, can you predict what GDP or unemployment will be in one, two, or three years? Neither can the Federal Reserve governors, who are tasked with controlling such matters. The only difference between the man on the street and a Federal Reserve governor with regard to such matters is that the wild guess of the man on the street is more likely to be accurate than that of the Fed governor, but that is a tale better wound by those more qualified to explain such matters, such as Lee Adler at the Wall Street Examiner.
We are gearing up to publish our Treatise on political economy, Why What We use as Money Matters, before we head out on holiday this year. It is more than a treatise, it is our calling (more below).
The current plan is to copy-edit and self publish this important work unless we are successful in landing an interested publisher in the interim. It is urgent that mankind examine what is in their wallet, for it is currently an invisible hand steering mankind towards a myriad of disasters that are either unfolding or about to unfold. These man-made disasters can be undone, if only a few can grasp what we have to share.
Stay tuned for the release and enjoy the brief introduction below!
Introduction: The Calling
Owen Meany had a calling. The hero in John Irving’s 1989 New York Times bestseller A Prayer for Owen Meany which was later loosely adapted to the feature-length film Simon Birch, believed himself to be God’s instrument in an unswerving and often shocking manner. Owen Meany’s calling was as clear to him as it was confusing, for while he could see the end result, he could not foresee nor fully understand the varied circumstances which guided him to his encounter with destiny.
We believe that, like the fictional Owen Meany, every human being that is alive or has ever lived has a calling, something specific that is to be done in this world that only they and they alone can accomplish. The task may be ignored, but it cannot be delegated. It may require the collaboration of many to accomplish, but the burden and drive to complete the task rests with one individual.
If the task does not get done, it does not get done, and the world will be all the worse off for it. On the other hand, if it is accomplished, all the host of heaven will applaud, for every calling that is recognized and pursued is not simply another task to be completed, it is an indispensable stitch in the fabric of what may be if only all of humanity would accept the call to a higher purpose that, far from being reserved for the exceptional, is the birthright of every human.
The following nine volumes are our calling. Taken individually, they are a winding exploration of philosophy, monetary theory, economics, dual entry accounting, climate change, and eschatology. Taken together, they are a treatise on political economy of such gravity and importance that, if fully understood by even one person among a million, will bring the activities of mankind into a perfect balance with nature.
Will that person be you?
Stay tuned and Trust Jesus.
Stay Fresh!
Email: davidminteconomics@gmail.com
Key Indicators for June 21, 2013
Copper Price per Lb: $3.10
Oil Price per Barrel: $93.92
Corn Price per Bushel: $6.68
10 Yr US Treasury Bond: 2.17%
Mt Gox Bitcoin price in US: $115.00
FED Target Rate: 0.10% ON AUTOPILOT, THE FED IS DEAD!
Gold Price Per Ounce: $1,299 THE GOLD RUSH IS ON HOLD FOR THE SUMMER!
MINT Perceived Target Rate*: 0.25%
Unemployment Rate: 7.6%
Inflation Rate (CPI): -0.4%
Dow Jones Industrial Average: 14,799
M1 Monetary Base: $2,432,200,000,000
M2 Monetary Base: $10,621,100,000,000