On the Road to Damascus

As he neared Damascus on his journey, suddenly a light from heaven flashed around him. He fell to the ground and heard a voice say to him, “Saul, Saul, why do you persecute me?” “Who are you, Lord?” Saul asked. “I am Jesus, whom you are persecuting,” he replied. “Now get up and go into the city, and you will be told what you must do.” The men traveling with Saul stood there speechless; they heard the sound but did not see anyone. Saul got up from the ground, but when he opened his eyes he could see nothing. So they led him by the hand into Damascus. For three days he was blind, and did not eat or drink anything.

– Acts 9:3-9, NIV

Yesterday, it was back to school…back to work…and back to worrying about our money. But nothing was proven yesterday…no hint of what lies ahead…unless what lies ahead is nothing.

Our guess is that all the major markets have changed direction.

Gold is now going up.

Stocks and bonds are now going down.

How do we know? You can look at the charts. You can check the sentiment levels. You can study the fundamentals, examine earnings…or even gaze at the stars. You can find ‘reasons’ for a major trend change almost anywhere you want to look.

But the biggest reason is this:

The Pharisees have taken over. Their goal is neither peace nor prosperity. It is to preserve their own power and status…and their wealth…at whatever cost.

As to peace, you have only to read the headlines. Syria has never posed any threat to the United States of America. Few Americans can find Damascus on the map. Fewer still would care to do so. The city is best known as the place to which the Jew Saul was headed when he became the Christian Paul, allegedly in about 35 AD.

The bible tells us that Paul was radicalised. He turned on the Pharisees. He abandoned the insiders and the zombies. He wanted real change. Revolutionary change…the kind of change you get after the system falls apart or blows up.

And now, the headlines tell us that the US may be on the road to Damascus too. But like Saul…or Paul?

Syria’s sovereign government is a sworn enemy to America’s supposed enemy – terrorists. Yet, in solemn chutzpah, the US Security Council met to discuss ways to attack not the terrorists…but the government.

Yes, the US now plans an act of war against yet another country in the Middle East…and another intervention of unknown cost and uncertain duration.

Some would ask, ‘Haven’t they learned anything from Iraq and Afghanistan?’ But the questioners would be people who haven’t learned anything themselves. America’s military adventures have nothing to do with national security. They are now the exploits of a Pharisee industry, intended to protect the zombies from spending cuts and radical reformers.

And here, at the head of the war hounds is the New York Times, out in front, baying for more bombs.

Bomb Syria, even if it is illegal‘ says one editorial headline.

And the Wall Street Journal tells us that war is too important to be left to the people’s representatives in Congress, as the constitution demands:

The reason [for Congress to] authorize the use of force is not to save this President from embarrassment. It is to rescue American credibility and strategic interests from this most feckless of presidents.

Rescue America’s credibility? Save its strategic interests? Pharisee talk, pure and simple. Empty and self-serving. Designed to preserve the status quo.

The Financial Times:

The moral case for intervention in Syria

And here comes the Telegraph:

Syria: the moral case for military intervention is now overwhelming

The purported reason for the attack is to punish the Assad regime for using weapons of mass destruction on its own people. Not that it is by any means sure that the government did in fact gas its own. You know as well as we do that this sort of ‘public information’ is often bogus and usually meaningless.

But even if it were true, we can’t understand why gas is necessarily badder than bullets or bombs. When you’re dead you’re dead. Does it really make any difference if you were gassed or shot?

And why should an American care how the Assad regime establishes law and order in its own country?

As for credibility, don’t make us laugh.

Oh wait…it’s not about the dead people. It’s about geopolitics. That’s what John Kerry says.

Kerry invokes apocalyptic ‘domino theory’ in call with House Democrats

In a Labor Day conference call with 127 House Democrats, Secretary of State John Kerry invoked an apocalyptic scenario, summoning visions of American power and credibility incinerated in a terrible Middle East-wide conflagration laced with nerve gas and enriched uranium.

An aide to one of the members of Congress who participated in the call told me that Kerry warned that the failure to punish Bashar Al-Assad for using chemical weapons on Syrian civilians could lead to future chemical attacks on Israel and Turkey, emboldening Iran to forge ahead with an alleged nuclear weapons program and perhaps even enter the battlefield in support of Syria.

Next, Kerry hammered on the Holocaust, declaring that the US faced a ‘Munich moment’ on Syria.

The member of Congress, a staunch opponent of a US strike on Syria, described Kerry’s pitch as an updated rendition of the Vietnam-era domino theory, which held that if South Vietnam fell, communism would spread across Southeast Asia. ‘By the end Kerry was practically telling us the Earth was going to fall into the Sun,‘ the member of Congress commented to aides afterwards.

Munich moment? Say what?


Bill Bonner
for Markets and Money


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From the Archives…

Is a 50% Market Decline Possible?
30-08-2013 – Greg Canavan

Why The 30/20 Tax Rule May Rise Again
29-08-2013 – Vern Gowdie

The Investment Industry: Confusion, Conflicts and Cash
28-08-2013 – Vern Gowdie

The Federal Reserve’s Crucial Next Step
27-08-2013 – Greg Canavan

Superannuation Overtakes Bank Deposits
26-08-2013 – Greg Canavan

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind Markets and Money.

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