Today I depart from my usual practice of selecting an article and commenting on it, so today is something of a critique, and I mean in it to share some thoughts I've been entertaining for some time.

By titling this article-editorial "Against Economic-Financial Chicken Littles," I mean to address that trend in financial analysis that sees the financial sky falling any day now, and the collapse of the dollar. I am not, of course, a financial expert (nor, really, any other kind of expert). But for years - decades really, if we get right down to it - we've been hearing the analysts predicting "collapse," hyper-inflation. The talk began, in my memory, when President Nixon took the USA off the Bretton-Woods agreement. We heard more of it during the Reagan era, as even his own budget manager David Stockton weighed in. We've been hearing it since the bailouts of 2008 and the popping of the housing bubble. And, of course, we've been hearing it since the Fed's various "quantitative easing" schemes. On some models and predictions, we should have already seen hyperinflation (or, on other models, hyper-deflation). We've yet to see either.

And this to my mind constitutes a fundamental problem: the models by which analysts have been making their predictions are broken, and their assumptions are in need of revision. Some analysts look at gold or other bullion prices, others focus on the peak oil problem, others on growing population, others on the amount of American debt owned by other nations, and so on.. Other operate from economic models owing much to their origin in the industrial revolution and the depression-era of the last century. One need only think of the Keynesian or Austrian (Mises and von Hayek) schools. Yet other analysts focus on the dangers of "central banking". Each of these, to my mind, reflects too narrow a data set on which to make any such macro-economic prediction. Indeed, by focusing their model only on the USA, rather than on the global picture, a skewed framework results. Do the liabilities exceed the assets in the case of the USA? Yes. But on a global scale, especially with new technologies coming on line? In my opinion, probably not.

They all, however, share one fundamental flaw, in my opinion, and it's high time that financial analysts begin to incorporate this into their thinking, for this flaw could potentially be the reason their predictions - many of which were supposed to have happened already - like predictions of "the Rapture", have failed. That flaw is that none of them take into consideration these three things, and their interrelationships: (1) the black budget, (2) the international underground criminal economy, largely drug based, and its associated money laundering and various schemes of mortgage fraud, and finally (3) the hidden system of finance that I have attempted to detail in my more recent books and talks (most notably in Covert Wars and Breakaway Civilizations), a system that had three enormous consequences for standard financial analyses of the types I've outlined above.

The first of these consequences was that it put the national security apparatus into banking, and international banking, directly. The second consequence was that because of the necessity to keep secret the enormous amounts of liquidity in the system that this covert mechanism (relying in part of captured Axis loot after the Second World War), the system began to deliberately obfuscate in dramatic fashion the estimated amounts of various types of bullion actually in existence. (How this could not be a factor in the analysis of those who watch the bullion markets like hawks for the slightest quiver in prices or amounts purchased, escapes me. For example, I recently saw an article where the Chinese want to purchase 10,000 tons of gold, which exceeds some estimates of the total bullion reserves by about 2,000 tons, yet, there was absolutely no comment on this conundrum by the analyst in question! The arithmetic here is simple: what if those figures are off by an order of magnitude or some large percentage of an order of magnitude?) This second point - a covert system utilizing Axis loot - is a matter of historical record, but I have yet to see any financial analyst refer to it in their models, and hence their predictions, as Catherine Fitts has so often suggested, are subject to having committed a material omission. Thirdly and finally, most of these analyses similarly ignore the signs and signals not only of massive rehypothecation of those hidden funds, but also the size, scale, and influence of underground criminal money flows related to the international drug trade, and so on.

So this is a plea: we need the financial expertise of these analysts; we need those analysts to pull their head out of the sand, and to begin to look at these things, to question their models, and to begin to take into their models, analyses, and considerations, the two huge missing pieces that seem to dog their predictions, these pieces being a truly global picture (and the role of technologies in that picture), and the huge size of black budget and hidden systems, and how these impact the public financial sector. This means they will have to shelve their favored economic dogmas - Keynesianism, Austrianism, bullionism, or any of the other favored ideologies - and look at some things that do not normally enter into the picture. We need to remember that these economic models were (1) the products of an historical era that is now long past, and (2) that they did not account for the rise of enormous "hidden states" with their black projects and black budgets during the Second World War, both in Nazi Germany, and in the USA, where that black projects world not only continued, but continues to this day. Untill they do, their analyses and predictions are simply not to be taken seriously.

See you on the flip side.

Posted in

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".


  1. HAL838 on November 18, 2014 at 1:03 pm

    I took all those things into account
    because he who backs both sides winds up losing twice.
    So now THEY can’t suddenly collapse the economy
    and it has slowed to a snail’s pace for a much softer landing.

    And there is always that ‘third wave’ that beats
    the dialectic at its own game.

    How are your sinuses Joseph?
    Mine won’t stop draining.

  2. Gaia Mars-hall on November 14, 2014 at 5:56 pm

    The problem is is that the collapse did happen and is happening, and that black budgets, perpetual war, drugs, drugs and more drugs, if not to mention the rest of cultural degeneracy, is more symptomatic of the fact that the collapse has happened and continues to happen.

    One example if Fukashima. Fukashima is due ultimately to the fact that instead of taking its industrial profits and recycling them into improvements in its physical economy which would mean investment in replacing old dangerous plants like that, instead Japan was forced to finance the Yen-Carry Trade, thus financing the quadrillion dollar derivatives black hole.

    The system is finished. It was finished with the collapse of the economy in the late 1990’s, where 9/11 was utilized as a means for
    hiding the fact that the western financial system was imploding as fast as those towers came down.

    Yes Wall Street is bankrupt, but with help from Skull and Bones methodology, they do not have to worry because they are in power and are insane, criminally insane, so the game goes on and on….
    sailing or golf anyone?

    What economic analysts need to learn is one thing: Does the price of essential wealth production provide enough income such that the production of such wealth is supported with the chance for a reasonable profit? This is what economist do not understand in the least, but it is the most basic of all economic equations, but stealing is the one prefer by this system now.

  3. jedi on November 14, 2014 at 10:56 am

    Walking through Cambodia stumbling across angkor vat, or as the stragglers say wat, I was amazed at the craftsman ship, and yet wondered while looking at the people walking around and squatting to do there business how could these people have lost so much intelligence in such a short space of time…Indeed what anchor, and what foolishness as I returned home to my comfy surrounding wiping the spit off my back remembering that decadence is a sword for the dinks…my word, snakes and ladders will land them back into the sandbox everytime….test pilot team, is about to face the same fate.

    The fact of the matter is the entire financial sector are simply a bunch of psychologist chasing marbles, and lacking marbles where they need them, in there head. Decadence gets them every single time….and the jungle takes everything back till the new mod squad shows up.

  4. Aridzonan_13 on November 14, 2014 at 10:34 am

    I believe CAF once said,(paraphrase) that after the PTB have stolen everything, making sure their ill gotten gains keeps it’s value would be a reason for a gold / commodities backed currency transition. The other question is, how much gold is still on the planet? Where off world civs don’t take $FRN’s. And there has been a long history of off worlders mining Earth for it’s precious metals.. Just another, guess looking at the tip of the iceberg. But, the $FRN is not truly a fiat currency. It’s backed by, Blood, Oil and Drugs.. Oil looks a little shaky these days.

  5. Frankie Calcutta on November 14, 2014 at 9:47 am

    I would place myself in the camp of economic-financial rapturist. That is, I believe the US economy will be saved by being lifted upwards into the heavens… or at least within our quarantine zone. Space exploration and mining and the technology that goes along with it will save the day. In the meantime, any black or public budgetary constraints can be dealt with by sacking countries rich in treasure like Libya or by simply starting a drug epidemic in virgin territory like the Ukraine. If money gets really tight and the full space fleet still isn’t operational yet, the 28 pages redacted from the 9/11 Commission report can be revealed and the countries implicated can be mugged (along with all their supporters) and all their wealth can go into the US coffers. And lets not forget what we could expect with a President Hillary. That cutthroat would have no qualms extorting money from any hapless nation that can’t defend itself from drones, bombers, gunboats, ISIS invasion, color revolution, false flags, pandemics, meteors, solar flares, earthquakes, tsunamis, or floods of biblical proportions.

    My chicken little caveat would be the wildcard Japanese. Would the Japanese allow their economy to implode, if they knew the fallout could take down the US economy? It would be a kamikazee attack with plausible deniability. As a homogenous, orderly society the japanese would likely recover from an economic meltdown without much social upheaval whereas the godless, welfare and wal mart addicts of the US would not. A violent societal implosion in the US would be unavoidable and total systemic collapse a likely possibility. Japan would not only release themselves from servitude to the crooked western finance system and allow themselves the opportunity to build a beneficial financial system for the people of Japan, but they would also be exacting revenge for Fukishima, WWII and all the other transgressions the America ogre has inflicted on them. Japan would be the giant killer and liberator of the world. Quite a motive to pull the plug on propping up their economy for the benefit of the west’s ongoing ponzi scheme.

    • jedi on November 14, 2014 at 11:19 am

      Frankie, the soccer zombies of the world are beating down the door of Uncle Sams to rush into Obamas window of opportunity and a nice comfy home, with a nice full fridge, unlimited welfare privileges and a life time of death sentences

  6. marcos toledo on November 14, 2014 at 8:53 am

    We should also throw into this mix good old human slavery. Upfront and renamed and only officially outlawed while still alive and well. And we should admit slavery has been larger than officially stated and that employee, serf, slave are just variants of the same thing beast of burden on two legs to be worked to death so their masters can live like of the gods their entitled to. Lets just admit that so called economics is mumbo jumbo for our junkie parasitic oligarchs to feast off the life force of this planet.

  7. foggygoggles on November 14, 2014 at 8:29 am

    I couldn’t agree more with Dr. Farrell. I do wonder however, how any open minded financial analyst could begin to get accurate numbers regarding black projects or budgets. Adding to that, the reality that Truth-tellers tend to meet unfortunate endings, I’m not expecting any reduction in the fear mongering that passes for analysis.

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