{"id":47368,"date":"2013-07-03T04:50:01","date_gmt":"2013-07-03T03:50:01","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/breaking-news\/fraud-corruption-and-sleazy-manipulation\/47368\/"},"modified":"2013-07-03T04:50:01","modified_gmt":"2013-07-03T03:50:01","slug":"fraud-corruption-and-sleazy-manipulation","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/breaking-news\/fraud-corruption-and-sleazy-manipulation\/","title":{"rendered":"Fraud, Corruption, and Sleazy Manipulation"},"content":{"rendered":"\n
\n <\/p>\n


\n by Richard Daughty
The Mogambu Guru<\/a><\/i><\/span><\/b><\/span><\/p>\n

Previously
\n by Richard Daughty: The
\n Bold and Beautiful Mogambo Days of Our\u00a0Lives<\/a><\/i><\/span><\/p>\n

\n
\n \"\"<\/a>
\n <\/p>\n

Oddly enough,
\n I am breathing heavily, my mighty heart racing boom, boom boom.
\n My eyes dart nervously, seeing frightful dangers in every shadow.
\n Trigger finger is twitching. Brain thinking about pizza.<\/span><\/p>\n

The world outside
\n of the Fabulous Mogambo Bunker (FMB) seems so sinister and scary,
\n but only somewhat less so here inside it. This dismal disparity
\n is proved, QED-like, by the fact that, despite the safety of steel-reinforced
\n concrete, heavy firepower, stores of gold, silver, and cases of
\n yummy frozen burritos and pizza (thin crust, with everything!),
\n I am nevertheless still scared Out Of My Freaking Mind (OOMFM) by
\n the unfolding horrifying economic collapse caused by the insanity
\n of Keynesian economic theory, a ridiculous attempt to control the
\n economy using incestuous equations without any acknowledgment of
\n the concept of having too much debt, disastrously used for most
\n of the entire last century to justify the creation of monstrous
\n amounts of fiat money and credit, an idea stupidly adopted by the
\n evil Federal Reserve and all the other lowlife central banks of
\n the world, to finance a gluttonous, bankrupting orgy of government
\n expansion and moronic private-sector mal-investments not stemming
\n from true, self-sustaining demand and a stable money supply.<\/span><\/p>\n

The proximate
\n cause of my snarling, paranoia? Peter Coyne of DailyReckoning.com<\/a>
\n writes “In this year’s edition of their \u201810,000 Commandments\u2019
\n report, the Competitive Enterprise Institute estimated that the
\n cost to comply with federal regulations totaled $1.8 trillion last
\n year. That’s more than the GDPs of Mexico or Canada and more than
\n the receipts of all corporate and personal income taxes combined.”<\/span><\/p>\n

Naturally suspecting
\n a trap, I sarcastically note that he doesn\u2019t mention the cost of
\n complying with state and local regulations, which the Grandfather
\n Economic Report reports, as of August 2011, as “$446 billion
\n state & local government mandates.”<\/span><\/p>\n

Calculating
\n the same rate of increase as federal regulations, the burden of
\n state and local overregulation must have expanded to around $505
\n billion by now, adding to a total cost of $2.305 trillion.<\/span><\/p>\n

Mr. Coyle blithely
\n ignores my mounting suspicion and deft calculator wizardry, and
\n goes on to look at government spending, writing “If you add
\n in the $3.53 trillion Congress spent last year, it makes the federal
\n government account for more than 1\/3 of the economy,” where,
\n again, I note that he neglects to mention that total federal, state
\n and local government spending in 2012 was $6.2 trillion last year,
\n which does not include the $800 billion spent by the public schools,
\n which adds to a tidy $9.305 trillion in One Freaking Year (OFY)!
\n $9.305 trillion!<\/span><\/p>\n

This is certainly
\n a lot of money, and I would almost certainly have a lot of trouble
\n spending that much cash over a long weekend, although I seem to
\n be very good at it. <\/span><\/p>\n

But, as you
\n probably noticed by my sudden shift into Shrieking Paranoid Overreaction
\n Mode (SPOM), it becomes even more, more, MORE outrageous when one
\n considers that the entire GDP of the USA is only about $15 trillion!<\/span><\/p>\n

This means
\n that total government spending, school spending and cost of regulation
\n is 62 percent \u2014 more than half! \u2014 of everything this country makes,
\n buys and sells! More than half! Approaching two-thirds!!!<\/span><\/p>\n

Reduced to
\n sniveling discombobulation by this revelation and overuse of exclamation
\n points, I am looking at my pathetic stash of gold and silver, thinking
\n “Oh, no! I spent too little buying gold and silver! And I spent
\n too much on guns, pizza, and golf, and spending way too much on
\n the wife and kids who are still bleeding me dry with their current
\n whining about needing new clothes when there is nothing \u2013 nothing!
\n \u2013 wrong with their clothes that a little duct tape, or a stapler,
\n can\u2019t fix!”<\/span><\/p>\n

Just then,
\n my weary, bloodshot eyes fell across a quote from a guy named Andrew
\n Maguire, and my mood instantly elevated, meaning either that the
\n morning\u2019s medications finally kicked in, or that I was going to
\n be very, very rich despite my pathetic under-investment in gold
\n and silver.<\/span><\/p>\n

It was probably
\n the latter, as the pills never really worked that well (just like
\n I told my wife and the doctor, who both insist that I take them
\n as prescribed and shut up about it), but mostly it was Mr. Maguire
\n telling King World News that “Eastern Central banks have purchased
\n a staggering 580 tons of physical gold in just the last 7 trading
\n days. This means Eastern Central banks just purchased a stunning
\n 25% of the world\u2019s annual gold mine production in just 7 trading
\n days. This was the largest purchase of physical gold during any
\n 7 trading day span in history.”<\/span><\/p>\n

In history!
\n A history of gold that stretches back thousands of years, yet never
\n before!<\/span><\/p>\n

Despite being
\n a lowbrow kind of dullard who just wants to be a very irresponsible
\n rich guy, and drive some really snazzy car with a great paint job
\n and powerful stereo, I know how supply and demand are equilibrated
\n by price. Especially when considering this startling increase in
\n demand for gold.<\/span><\/p>\n

Additionally,
\n as is usual in history at the end of long monetary booms, fraud,
\n corruption and sleazy manipulation are rampant in the commodities
\n market (just like in all markets and governments), but especially
\n gold, which is why the price of gold has fallen so far so fast,
\n taking silver down with it.<\/span><\/p>\n

This means
\n that gold and silver are grossly, fraudulently, impossibly undervalued
\n to start with, but now with a startling statistic like “the
\n largest purchase of physical gold during any 7 trading day span
\n in history,” I shout with joy! “Gold and silver are going
\n to the moon, baby! To the moon!”<\/span><\/p>\n

After all,
\n it\u2019s not for nothing that I say “Whee! This investing stuff
\n is easy!” Whee!<\/span><\/p>\n

July
\n 3, 2013<\/i><\/span><\/p>\n

Richard Daughty (Mogambo
\n Guru) is general partner and COO for Smith Consultant Group, serving
\n the financial and medical communities, and the writer\/publisher
\n of the Mogambo Guru economic newsletter, an avocational exercise
\n to better heap disrespect on those who desperately deserve it. The
\n Mogambo Guru is quoted frequently in <\/i>Barron\u2019s, <\/i>The
\n Daily Reckoning, and other fine publications. Visit
\n his website.<\/a><\/i><\/span><\/p>\n

Copyright
\n \u00a9 2013 Richard Daughty<\/span><\/p>\n

The
\n Best of Richard Daughty<\/a><\/span><\/b>
\n
\n <\/span><\/p>\n<\/td>\n

Republished with permission from: Lew Rockwell<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

by Richard DaughtyThe Mogambu Guru Previously by Richard Daughty: The Bold and Beautiful Mogambo Days of Our\u00a0Lives Oddly enough, I am breathing heavily, my mighty heart racing boom, boom boom. My eyes dart nervously, seeing frightful dangers in every shadow. Trigger finger is twitching. Brain thinking about pizza. The world outside of the Fabulous Mogambo […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[487],"tags":[],"class_list":{"0":"post-47368","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-breaking-news"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/47368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=47368"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/47368\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=47368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=47368"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=47368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}