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Page added on November 30, 2015

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The “Arrogance, Hubris, & Stupidity” Of The US Government

On the heels of the Chinese stock market plunging 5.5%, continued turmoil in the Middle East and the price of gold hitting 5 year lows, former U.S. Treasury official, Dr. Paul Craig Roberts told Eric King of King World News that Putin and the Russians are now dominating in Syria and the Middle East as the West destroys itself.

 Dr. Paul Craig Roberts:  “It could well be that this is going to work out so much in Russia’s favor that Putin will send a letter of thanks to the Turkish President and say, ‘Thank you very much.  You’ve done us a huge favor. (Laughter).  We lost a pilot and a naval marine but we sure have gained a lot.  That was only two deaths for winning a war.”…

“So that looks to me like the most likely outcome.  The unintended consequence of this are so positive for Russia that it’s got Washington quaking and Europe wondering about the idiocy of being in NATO.”

Eric King:  “What I’m hearing from you Russia is dominating in Syria.  The Russians have completely taken over and there’s really nothing Washington can do.”

Paul Craig Roberts:  “No, except make a fool of itself by supporting ISIS.  We brought ISIS in there (to Syria) — everybody knows that.  Just the other day the former head the Pentagon’s Defense Intelligence Agency said on television that ‘Yes, we created ISIS and we used them as henchmen to overthrow governments.’ (Laughter).

And the polls in Europe show that the people are on Russia’s side regarding the shooting down of their aircraft.  They don’t believe (the West’s) story at all.  So I think what you are seeing here is the arrogance, hubris, and stupidity of the United States government.  They are just handing every possible advantage over to the Russians.

This American government is the most incompetent government that has ever walked the earth.  Those people don’t have any sense at all.  Just look at what they’ve done.  In 14 years they’ve destroyed 7 countries, killed millions of people, and displaced millions of people.  And where are those displaced people?  They are overrunning Europe.

 

This is all because those Europeans were stupid enough to enable our wars.  Now the political parties in Europe are under tremendous pressure from these refugees and the populations who object to them, and from the rising dissident parties who are saying, ‘Look at what these people who you trusted have done.  They’ve changed your country.  It’s not Germany anymore — it’s Syria.’ (Laughter).

 

This is a disaster.  Only the stupid Americans could have produced such a disaster.  Does Putin need to do anything?  We’re doing it all for him.  So he doesn’t need to do anything.  He’s not going to attack anybody.  What does he need to attack anybody for?  The idiot Americans are destroying themselves and their allies.  This is an amazing fiasco.”

And On Gold… Massive Government Corruption

Eric King:  “Dr. Roberts, people are worried about World War III breaking out and yet we have the price of gold today hitting 5 1/2 year lows.  So I guess even though Washington has lost control in the Middle East, they still feel like they have to keep up appearances.”

 

Paul Craig Roberts:  “Gold didn’t hit a low, it was artificially driven down by the bullion banks, who are agents of the Federal Reserve and acting on the Fed’s orders.  This is the way the Fed protects the dollar from losing value.  This has been going on in earnest since the fall of 2011.  We see the appearance at the most odd times of day and night, for no reason whatsoever, of massive short sale of paper contracts that cause the price of gold to move straight down.”

 

Eric King:  “We saw that today in the gold market with roughly $2 billion of paper gold being sold into the market almost instantaneously.”

 

Paul Craig Roberts: But it doesn’t mean anything about the value of gold.  It simply means that the Federal Reserve and the bullion banks have manipulated the market.  So that’s what’s going on.  This is the worst kind of criminality and the worst kind of corruption.  I, myself, wrote to the Commodity Futures Trading  Commission and asked them why they permitted this?  This is a violation of the law.  But nothing can be done because it’s the government that’s doing it and the government is not going to prosecute itself.

 

So never say gold hit a new low because it didn’t.  It got driven down artificially by a corrupt government…

King World



36 Comments on "The “Arrogance, Hubris, & Stupidity” Of The US Government"

  1. onlooker on Mon, 30th Nov 2015 7:35 am 

    I am afraid this article is right on except for the fact that US will take down everyone with them. As Davy has pointed out as I know their will be a back and forth here the world is now interlocked in a death grip. Any major disturbance such as the US economy tanking will collapse the whole house of cards. I would add that the US is playing its best card, its military. It is and has intentionally destabilized the ME in order to project as much as possible its military might their and all this chaos is what Washington is counting on to maintain the oil flowing as the last thing Washington wants are strong governments that may stand up to the US or make an alliance with Russia or Iran. Terrorists are much more preferable as they will not make any alliances with anyone perceived as an infidel. They simply will seek more power and wealth for themselves which the US and the West in only to happy to try and facilitate for them. They are also very corruptible. Unfortunately the big problem is Russia is not buying it and is a potent counter to all this strategy. I am not sure anyone or anything can control the events to come in the ME.

  2. Davy on Mon, 30th Nov 2015 8:09 am 

    Great Article but the usual extremism. The corruption is more than with the US it is our global system itself. The Americans would never have been able to be to the point they are now without the underlying support of the global world through corruption. A world not driven by greed and self-interest would have put an end to this mischief long ago. The American system of capitalism and exploitation would have been stopped in its tracks long ago.

    Instead the world has chosen this Global system in the name of progress and development at any cost. The American system suited the 1%ers of the world as the most beneficial to wealth growth. It allowed for the concentration of power through trade and mutual self-interest. Isn’t that what trade is a game of mutual self-interest? We don’t trade because we love each other. The world over has leaders that are corrupted by money and power. If they are not they don’t make it.

    Putin is no exception in fact he is the grand master of money, power, and corruption. Russia is a mafia state run by a mafia Don. I will reiterate the US is the greatest danger to world peace now. The global system is a manifestation of a system supported and influenced by Pax Americana. The system is corrupted to the core and that corruption is global with all nations participating.

    I will let the anti-Americans feast on this article. I guarantee the feed will be long and stimulating but short on fairness, balance, and objectivity. Folks you have to have a tough skin to be on a board and site like the one we have. If you try to be fair, balanced, and objective the extremist want to rip you apart.

    I am part of the game locked in battle against extremism so I just need to look in the mirror to see my own extremism. I admit it they don’t. We are talking about extremism at every level in our world including our little PO board. We are a mirror image of what the mainstream global mafia media is doing. This article although excellent is the same old song and dance that shows our global world has no future.

  3. Hello on Mon, 30th Nov 2015 8:09 am 

    onlooker >>>> and all this chaos is what Washington is counting on to maintain the oil flowing

    It seems much easier to keep the oil flowing without the chaos.

  4. Davy on Mon, 30th Nov 2015 8:36 am 

    If you want a glimpse into how this Turkey situation could spiral out of control just read this article:

    “Turkey’s Trump Card: Erdogan Can Cut Russia’s Syrian Supply Line By Closing Bosphorus”

    http://www.zerohedge.com/news/2015-11-29/turkeys-trump-card-erdogan-can-cut-russias-syrian-supply-line-closing-bosphorus

    “What Turkey could do, however, is close the the Bosphorus Strait which would effectively cut Russia’s supply line to Latakia.

    Russia’s biggest risk: Turkey shuts down Bosphorus to Russian ship transit
    — zerohedge (@zerohedge) November 28, 2015
    Here’s Sputnik:

    Tensions between Russia and Turkey over the downing of a Russian Su-24 bomber in Syria may challenge freedom of navigation through the Bosphorus Strait, a major pathway for Russian ships. However, a Turkish unilateral ban on the passage of Russian ships is unlikely since it would violate international law.

    In recent months, Russia’s heavy military equipment has been delivered to Syria mostly by sea, with the shortest route coming through the Bosphorus Strait and the Dardanelles.

    A sharp rise in tensions between Moscow and Ankara may challenge the delivery of Russian weapons and troops through the straits. If passage is prohibited for Russia there is still the way through the Gibraltar (which takes 13-14 days rather than four days through the Bosphorus) or by air.

    In peacetime, Turkey is obligated to allow naval warships safe passage regardless of what flag they fly. As Sputnik goes on to note however, “in times of war, the passage of warships shall be left entirely to the discretion of the Turkish government.” Although one Russian lawyer who spoke to RBK claims the Turks have no legal ground to block passage, it’s not difficult to imagine a scenario whereby Erdogan decides to push the issue.

  5. paulo1 on Mon, 30th Nov 2015 8:45 am 

    Mr. Roberts,

    Some advice for you.

    Stay away from all charter flights.

    Hire a contractor to do all renovations, and make sure he takes his nail guns home at night.

  6. Hello on Mon, 30th Nov 2015 8:49 am 

    Davy: You should not rely on zerohedge too much. They are usually wrong.

    And in general, any article that uses “may” and “could” can be safely ignored.

  7. Boat on Mon, 30th Nov 2015 9:09 am 

    Dr. Paul Craig Roberts told Eric King of King World News that Putin and the Russians are now dominating in Syria and the Middle East as the West destroys itself.

    LOL, just another right wing nut. The only reason Obama won the election was right wing militarism. They will hand the election to Hillary if they keep pushing more intervention in the Middle East.

  8. Boat on Mon, 30th Nov 2015 9:13 am 

    Davy, Davy, Davy.

    If you want a glimpse into how this Turkey situation could spiral out of control just read this article

    Just one of a billion conspiracy theories that won’t happen.

  9. Davy on Mon, 30th Nov 2015 9:18 am 

    Hello, I am afraid your advice is no good to me on this subject. You offer nothing as an alternative. Many of your views are racist and extreme.

    I have many other sources but they typically don’t offer the hard hitting financial news ZH does. Zerohedge is extremely anti-American and anti-Walstreet which is a two edge sword. If you can sift through the dirt there are some great articles. There are many poor articles especially on the geopolitical becuase of their extreme anti-Americansim.

    On the economic front these guys are among best. They are not bought off like most of the other mainstream financial media sources. Zerohedge is a great alternative to the cornucopian narrative that is firmly in control in our global world.

  10. Davy on Mon, 30th Nov 2015 9:20 am 

    Boat, do you even know where the Bosphorus is?

  11. Boat on Mon, 30th Nov 2015 9:38 am 

    Davy.
    Yea, where that little red dot on the map is. Your point?

  12. onlooker on Mon, 30th Nov 2015 9:44 am 

    Hello, yes flowing on behalf of Russia or China as Assad was cooperative towards them. This is about insuring as much oil goes to your country as possible. Countries with strong governments may or may not cooperate. What is needed is chaos so their will be no strong governments and the pretext that terrorism type chaos brings for maintaining a strong military presence. That is exactly what is occurring.

  13. Hello on Mon, 30th Nov 2015 9:47 am 

    Davy. zerohedge has been wrong for the last 10 years in predicting all kinds of doom. That’s the reference.

    And: any piece that uses “may” and “could” is a product of imagination and opinion.

    Not sure what my views on the invasion of Europe by Africa’s apes has to do with all this, but thanks for caring.

  14. Hello on Mon, 30th Nov 2015 9:54 am 

    onlooker:

    I don’t get it. The money buys the oil.
    A barrel of oil costs the same when bought in Beijing as when bought in Los Angeles as when bought in Johannesburg.

    What’s the point of securing it with military in an environment of chaos, when throwing $$ at an oppressive government would produce the same results without the need for the army?

    I could understand the army if it means the oil is simply stolen. But it’s no it’s developed and sold at market rates.

  15. onlooker on Mon, 30th Nov 2015 10:12 am 

    Not quite Hello, you see the present is unlike the past. PEAK OIL. That means less oil at potentially higher price. That also means you better know who you can do business with. That also means more competition for less product. So you could say these are the opening salvos in a competition that will not just be about money buying oil but securing alliances, stealing the oil, breaking alliances and yes having proxy wars to attain the oil or some strategic land area whereby oil can be transported to or from. I guess what I really mean no longer is it just about being nice and polite and trading. Different world now, different tactics.

  16. Hello on Mon, 30th Nov 2015 11:29 am 

    I dont’ know, onlooker. That seems a lot of wishy-washy you’re talking about.

    Even the poster child retards of isis are eager to sell oil to the evil west. No need for tanks or planes. They are so eager to sell their oil, that they even sell it at steep discount to the ottomans.

    Now I’m sure there are a lot of special interest reasons to go to war for, from selling arms to lucrative rebuilding contracts, getting the oil just seems not to be one of them.

  17. shortonoil on Mon, 30th Nov 2015 11:30 am 

    As we have been saying, the real impact of declining oil prices will be seen first in the FX markets. Its $4+ trillion per day activity is too large for even the Central Banks to control. A country’s currency value is controlled by its currency inflow to currency outflow ratio. As oil prices have fallen 60% in the last 18 months oil exporting nations are seeing their currencies collapse. This makes imports more expensive for them, and will destabilize their economies. Saudi Arabia is already seeing a flood of funds out of the county. Civil unrest, and fragmented economies will reduce production as the situation worsens. Interference by Western governments will only aggravate the overall impact of declining prices.

    http://www.thehillsgroup.org/

  18. Hello on Mon, 30th Nov 2015 11:38 am 

    shortonoil:

    I think the most entertaining thing about doomers is that high oil prices were supposed to spell doom. Now that it did not happen it’s low oil prices that are supposed to do the job. Funny.

    BTW: thehillsgroup. Is that just you doing some matlab coding?

  19. onlooker on Mon, 30th Nov 2015 11:43 am 

    they better sell the oil to us or else we will go after them for the terrorist that they are, you see now Hello, win-win.

  20. Hello on Mon, 30th Nov 2015 11:51 am 

    onlooker:

    That is what I don’t understand.
    Why does it matter if they sell the oil to US or the ottomans? WHY?

    They sell the barrel to the ottomans and the ottomans will buy a barrel less from Vlad’s land. And Vlad will then sell a barrel more to the chineese. And the chineese will then buy a barrel less from venzuela. And since a social program is expensive, venezuale will have no choice to sell their barrel to the us. You see. Everybody get’s their barrel and no need for tanks.

  21. onlooker on Mon, 30th Nov 2015 12:04 pm 

    yes but Empires are greedy Hello, and that is exactly what US is. Also, to remain the top dog means having the most energy. This is not about somewhat equitably sharing the Oil it is about cunningly or via outright force getting the Oil. Again my point that Peak Oil is changing the rules of the game, no longer are players going to play so nice. The US while it can is using its ace in the deck, meaning its military. For now surrogates are doing its bidding eventually the US military will directly be involved. We all have to think a little bit down the road, that is the Grand Game. Oh and terrorist do not care about the Grand Game or making alliances just remaining in power and pursuing with total focus their Jihad and visions of a greater Islamic State. Those who are not Jihadists are seen as the enemy but even enemies can be useful to deal with.

  22. shortonoil on Mon, 30th Nov 2015 2:35 pm 

    “shortonoil:
    I think the most entertaining thing about doomers is that high oil prices were supposed to spell doom.”,/i>

    Not sure what you mean by “doomer”; it is a word without a definition. The Hills Group is a collection of consulting engineers who run a thermodynamic model of petroleum production. We make the information extracted from it available to our clients, and post it here, and at our site for use by the general public. If you would rather use darts, Ouija boards, or dried chicken bones to arrive at various conclusions, be our guest. Your fantasy derived opinions will in no way affect the outcome of our calculations.

    http://www.thehillsgroup.org/

  23. Hello on Mon, 30th Nov 2015 3:23 pm 

    Thank you for your statement shortonoil.

    I think using darts to predict the future regarding the subject of peakoil and its consequences is equally accurate than your complicated models that have faired pretty poorly in retrospect. One only has to search the main forum database to see.

    With 99% accuracy !

    That’s the problem with being a software engineer. Your world is a digital computer that behaves perfectly predictable.

    But real engineers know that the world is analog….and that’s when things get tough.

  24. Boat on Mon, 30th Nov 2015 3:26 pm 

    Short,

    The number your opinions ran through your thermodynamic model of petroleum production counter common sense and defy all calculations.

    When oil prices rise in yet another cycle your model of depletion will be shown an another easily explained glitch in the chart you forgot to factor in. I am waiting with anticipation for the “experts” explanation.

  25. Hello on Mon, 30th Nov 2015 3:33 pm 

    onlooker:

    I have to say that your arguments do not convince.

  26. shortonoil on Mon, 30th Nov 2015 4:14 pm 

    “Thank you for your statement shortonoil.
    I think using darts to predict the future regarding the subject of peakoil and its consequences is equally accurate than your complicated models that have faired pretty poorly in retrospect.”

    You think is likely a bit of an exaggeration if your comment is any indication of it!

  27. shortonoil on Mon, 30th Nov 2015 4:21 pm 

    “When oil prices rise in yet another cycle your model of depletion will be shown an another easily explained glitch in the chart you forgot to factor in. I am waiting with anticipation for the “experts” explanation.”

    What experts; the ones that predicted the last price plunge?:

    http://www.thehillsgroup.org/depletion2_022.htm

    We wait with baited breath!

    http://www.thehillsgroup.org/

  28. apneaman on Mon, 30th Nov 2015 4:49 pm 

    Hello, what is your argument exactly? Saying short’s model is wrong without demonstrating how and why is simply talking out your ass.

  29. marmico on Mon, 30th Nov 2015 5:42 pm 

    This is how the quart shy of oil determines the half way point where gasoline is useless.

    One example is the EIA’s
    estimate for petroleum refining energy costs, which they give as 16,300 BTU/$ of finished product. If
    calculated at $3.00 per gallon for 2012, this produces 48,900 BTU/gal…Employing the BTU/$ method, the 2012 production energy costs at the
    well head can be estimated at 14,735 BTU/gal. Distribution costs of raw material, and finished product
    are estimated at $42/barrel, giving 6,365 BTU/gal. The extraction, processing and distribution energy
    costs for 2012, when summed, equal 70,000 BTU/gal

    The moron thinks that it takes 35% of the energy content of a gallon of gasoline to refine it.

    Now that gasoline is $2.00 per gallon, it must only take 23% to refine. What a moron.

  30. Davy on Mon, 30th Nov 2015 6:07 pm 

    Marm, do you have any opinion on how to account for thermodynamic depletion occurring with oil? Surely you will acknowledge this natural occurrence in some form. This is a serious question not intended as an attack or diversion. If you have a better way to account for it I am all ears. If it is irrelevant in your opinion let me know.

  31. shortonoil on Mon, 30th Nov 2015 6:33 pm 

    “This is how the quart shy of oil determines the half way point where gasoline is useless.”

    They sure give those trolls some powerful search engines. That is an old, old post that I may not even have a copy of. Unfortunately, they hire idiots that can’t read? There is not one mention of gasoline in that post. It has absolutely nothing to do with gasoline; gasoline is two steps up the process. It is nice to know, however, that we are giving Troll Central headaches. The perpetrators of intended misinformation should have their head shoved up their ass, before they are boiled in oil. They rate with pond scum!

  32. marmico on Mon, 30th Nov 2015 6:48 pm 

    Fuctard.

  33. ghung on Mon, 30th Nov 2015 7:02 pm 

    Marm; do you have Tourette syndrome? Serious question.

    “Tourette’s was once considered a rare and bizarre syndrome, most often associated with the exclamation of obscene words or socially inappropriate and derogatory remarks…”

    Seems it’s more common than they thought.

  34. apneaman on Mon, 30th Nov 2015 7:33 pm 

    marmico is a shit stain in the underwear of a shit stain.

  35. marmico on Mon, 30th Nov 2015 8:22 pm 

    ghung, when you are jerking off in the green house and are ready to ejaculate on the rutabaga, squeeze your knob real hard and ask yourself, how did that fuctard quart shy of oil come up with ~48,000 Btus to refine a barrel of oil that contains ~140,000 BTUs.

    The extraction and distribution BTUs seem to be reasonable approximations.

    Keep squeezing that knob real hard and pretend that you were back in your granpappy days in 1960. Extraction BTUs were lower, but distribution and refining BTUs were higher. The net effect is there has been fuck all change in the petroleum system with respect to end consumers.

  36. GregT on Mon, 30th Nov 2015 11:00 pm 

    The net effect here Marmico, is that the world’s economies are in extremely dire straits. Continuing to digress further into pre-adolescent diatribes isn’t going to make reality go away. If you have something positive to contribute to the conversation, great. If you are incapable of growing up and acing like a reasonable adult, then go away.

    Loser.

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