The 2008 Economic Collapse

BRA

Here’s an excerpt from Kunstler’s new book:

“It was not a coincidence that the global financial system wobbled and crashed in mid-2008, the same moment that oil shot up to $147 a barrel. Underlying the price event was a growing recognition by buyers, users, and traders in oil that oil had reached an inflection point, which was, of course, peak oil. Among this group were airlines, chemical and plastics makers, big agriculture, trucking companies, heating oil distributors, and electric power utilities. The public might have been asleep at the wheel but these industrial-scale oil buyers ran gigantic enterprises and rising prices had been playing havoc with their business formulas for several years.

Since 2002, for instance, Delta and United Airlines had been operating in bankruptcy, until they merged, respectively, with Northwest and Continental. Japan Airlines went bankrupt in 2010. In the fall of 2011 American Airlines entered bankruptcy. They all had to worry continuously about securing large amounts of oil based jet fuel, which rose from between 10 and 20 percent of their total operating costs in the 1990s to between 30 and 50 percent in 2008. All big buyers of oil in the OECD countries also found themselves bidding increasingly into the market against China and India (Chindia!), which were seeing economic growth rates around 10 percent in recent years. Fear and greed drove the oil markets in the spring and summer of 2008, egged on by speculators, including Wall Street banks and investment firms, who took advantage of the anxious mood. In turn, oil prices ramping above $100, then $120, then $140 in July very decisively crushed economic activity. It wasn’t long before these troubles moved to the heart of the economy, with job losses mounting and mortgages going bad at a frightening rate.”

It should be interesting to find out how BRA’s economy is performing with oil collapsing in the middle of the summer driving season.

About Hunter Wallace 12379 Articles
Founder and Editor-in-Chief of Occidental Dissent

50 Comments

  1. Hunter,

    I’m reading the same book now, and according to Kunstler the banksters killed the financial system. It could have lasted longer, but it didn’t. J.P. Morgan, for example, takes 14 billion in government subsidies per year:

    http://www.alternet.org/economy/156010/matt_taibbi_and_yves_smith%3A_how_the_wall_street_mafia_holds_america_–_and_the_world_–_hostage/

    If the average taxpayer pays 5000 a year, that’s 2.8 MILLION tax slaves for J.P. Morgan alone.

    Read the whole article. There’s no way they can keep this system running — they are extracting the last bit of wealth . . . and then? Then what? I don’t think they have planned that far.

  2. Excellent article about the economic collapse put up today at Henry Makow website.
    Entitled:”Piggies Squeal As Illuminati Tighten Noose”.
    Illuminati is as good a word as any, I suppose, for the big-shot bankers and all their enablers of all stripes.

  3. Yeah, but he also called Peak Oil though, which happened in 2006, which the bullshitters at the IEA and EIA were denying at the time. In 2010, the IEA reversed itself and admitted that Peak Oil was in the rearview mirror.

  4. Makow seems spot on with the article he posted today, I think. We live in a complicated world– no one knows everything there is to know.
    I honestly don’t know what his views are as concerns peak oil. I think his article today is worth the read, nonetheless.

  5. The root cause of general price inflation is the loose credit of fiat based currencies. The US dollar has lost 98% of its value since the institution of the Federal Reserve System and fractional reserve banking.

    Peak Oil will present difficulties but they will hardly be insurmountable. We have hundreds of years worth of natural gas, coal, and uranium. If this means that we have to travel to the mountains or beach in light aerodynamic carbon fiber transportation modules with high compression supercharged alcohol fueled engines instead of Cadillac Escalades then so be it. It’s only been a hundred years since we were all riding horses for personal transportation. I’m sure we will figure it out and adopt whatever technology is necessary.

  6. For hundreds of years, Western economies have been based on the assumption that there will always be more energy, which can be exploited at an ever faster rate. This is what we call “growth.”

    I’m sure we will figure out how to move to something more sustainable … at some point down the road, perhaps centuries from now, but not before the failure of that underlying assumption crashes the systems and feedback loops that have always been based on that assumption.

    What do we do about the 1 billion negroes in Africa? We couldn’t fix Haiti when we showered it with a firehose of foreign aid.

  7. It was not a coincidence that the global financial system wobbled and crashed in mid-2008, the same moment that oil shot up to $147 a barrel. Underlying the price event was a growing recognition by buyers, users, and traders in oil that oil had reached an inflection point, which was, of course, peak oil.

    Oil hit $147 because oil shorts couldn’t deliver because daily shipping rates were low eoungh that it allowed full tankers to be parked offshore while the traders drove up the prices covering their shorts. It wasn’t China.

    We are not at Peak Oil. We don’t know what reserves the world holds in deeper waters far off shore. We don’t know what all is in the Arctic Circle. We don’t actually know what is beneath 40,000 feet. The Western World also for the most part dismisses the theory of Abiogenic Oil: http://en.wikipedia.org/wiki/Abiogenic_petroleum_origin

  8. We really shouldn’t do anything about the negroes in africa. It’s their continent, for the most part ( south of the sahara, at least, excepting Rhodesia and South Africa which rightfully belong to the whites who built those two countries).
    I don’t know why all the liberals and namby-pamby gooddy goodies have such an intense interest in africa (and haiti). Let the blacks have their countries and let them be. That’s all.
    I guess the liberals want to feel superior– it’s a passive-aggressive way of feeling superior.
    Between the namby-pamby do-gooders and the zionist warmongers who want to stick their nose into every country, every situation in every country — now they are sticking their zionist nose into the middle of african tribal disputes in the horn of africa, nothing good is going to accrue to white Americans if either the liberal namby-pamby and/or the warmongers have their say.
    We’ll be having africa coming out of our ears. And at a time we have so many other problems and issues to confront and try to solve.
    We don’t need any resources in africa — If I’m wrong about that, if we really do need resources in africa– than just pay the going rate for the resources and leave it at that.
    We have the technology, the know-how, and the resources we need right here in North America to build a viable and sustainable way of life — for ourselves as well as for future generations very far into the future.
    We don’t seem to have the will, though. We certainly don’t have the leadership. That’s for sure.
    More wars are just not the answer to our problems. The US has been continuously at war since 1941– and look at what we have to show for it: A destroyed (or at least very close to destroyed) nation headed for only God knows what kind of horrors.
    Now our ruling class is goading us on to war in africa. The zionists ( the mossad and the cia working for the big banks and big corporate interests) are fomenting african tribal wars and then calling upon us to get in the middle of the turmoil, and go to war once again.
    While we still get flooded with thirld world immigrants, no less ; And our industry dismantled and shipped to China.
    This empire has to come to end or we will be totally destroyed. President Washington was correct:
    We were to steer clear of foreign conflicts and just mind our own business. I know the world is more complicated and interdependent than back then– but we Americans can still work together with the rest of the world without fomenting and engaging in constant and endless wars.
    There is enough technology and know-how and resources to forestall any doomsday scenario as concerns it energy resources. If we ever do face doomsday it is because of uncle sam’s constant war making and because of a banking system based on usury and fiat money. War and fiat money is real the problem. Not resources.
    We got the resources and we got the technology to make the very most of our resources without the threat of a “resource doomsday”.

  9. Kunstler has ‘called’ peak oil for the past ten years. He’s an alarmist. Further, I doubt that he has any real knowledge of what the power brokers are doing behing the scenes, he just has an active imagination, and he imagines gloom and doom scenarios.

    The real truth about the economy is that we’ve been hollowed out by mass immigration and all of our industries going to China. Peak oil has little to do with it (although peak oil will be a huge issue in the decades to come, it hasn’t really arrived yet).

  10. For more info about oil and geoploitics go to:
    “engdahl.oilgeopolitics” (.net)
    Scroll down to middle of introductory page to “Search Geopolitics”, type in “peak oil.”
    It’s a good website to start learning about the oil situation in the world.
    Good Google Search Ideas: “Russians Prove Peak Oil A Lie”
    “Scientific Proof of Abiotic Oil”
    ” Canadian Oil Reserves”
    ” Canadian Oil Deposits”
    I got alot of info using these search terms.

  11. True.

    I’ve been paying attention to the Peak Oil debate for about ten years. The pessimists claimed that Peak Oil was imminent. The optimists always said that it was several decades in the future.

    The debate is over: Peak Oil happened in 2006. The IEA admitted that Peak Oil happened in 2006 at the end of 2010.

  12. We’re in the fourth year of a depression.

    Things will start getting interesting as the airlines collapse, the welfare state collapses, the price of food starts skyrocketing, the starvation begins in Africa and other Third World countries, the refugee crisis begins, etc.

    Actually, this is already happening. If you know where to look. We’re in the earliest stages of it right now.

  13. The debate is over: Peak Oil happened in 2006. The IEA admitted that Peak Oil happened in 2006 at the end of 2010.

    What exactly is “Peak Oil” supposed to mean anyway? Proven reserves are up by hundreds of billions of barrels just over the past decade, oil prices are down almost 50% from their all-time high and expected to fall further, and oil production is expected to skyrocket all over the world in the next few years, especially in the US.

    Global crude oil production capacity is likely to climb from 93 million b/d currently to 110 million b/d by 2020 in the largest single-decade increase since the 1980s, a former senior Eni executive forecasts in a new study.

    The 17 million b/d surge will occur nearly everywhere, with the largest increases in Iraq, the US, Canada, Brazil, and Venezuela, said Leonardo Maugerie, a research fellow at the Geopolitics of Energy Project at the Belfer Center for Scientific and International Affairs at Harvard University’s John F. Kennedy School of Government.

    His study, Global Oil Production is Surging: Implications for Prices, Geopolitics, and the Environment, also forecasts that technological advances in unconventional oil production will help the US experience unprecedented output and help make the Western Hemisphere energy self-sufficient by 2020.

    http://www.ogj.com/articles/2012/06/maugeri-expects-17-million-bd-more-global-oil-production-by-2020.html

    But hey, why rely on the actual data when some crank catastrophe-monger like Kunstler says otherwise, right? I mean, a far left Jewish conspiracy theorist would never steer us wrong, would he?

  14. “But hey, why rely on the actual data”

    What “actual data”?!? What you gave were unsubstantiated projections. And to top it off they only guessed that production might reach past highs not exceed them. Plus it was all linearly extrapolated from a increase of less than a million barrels in ONE field that used some of the newer fracking techniques. Total bullshit.

  15. Another great way to access info about the Russian oil industry and abiotic oil is to
    Google: ” Russian oil companies and abiotic oil ”
    Some good information can be found using this search term, as well as the search terms I mentioned in my other post.
    I’m glad to hear that american oil companies are making advances in unconventional technology. It’s a start. Finally.
    I hope they’re going to use the unconventional technology in Canada to tap the great reserves up north and wean us away from the turmoil and bullsh*t of the Middle East.

  16. jeppo,

    (1) It means that the all time peak in world conventional crude oil production (the liquid stuff that most people associate with gushing oil rigs) was reached in 2006 and has since gone into decline and will never recover to that level of production.

    (2) Kunstler and other Peak Oil theorists have always said that the price of oil will explode and contract. That’s an integral part of the theory. It is how demand is destroyed, “growth” is killed off, and why the economy contracts to the next rung down the ladder.

    (3) Proven reserves … of what? Shale oil? Shale gas? Tar sands? That’s not the same thing as conventional oil. The oil companies didn’t bother producing that stuff until recently because the EROEI was so low that it wasn’t worth the effort.

    (4) The fact that the oil companies are even bothering with deepwater oil, drilling in the Arctic, and shit like tar sands and oil shale is further proof of a serious supply problem.

    (5) Doesn’t the actual data show that conventional oil production hit a ceiling in 2006 and that we have been struggling to make up for growing world demand by tapping into unconventional oil sources ever since?

    (6) Kunstler isn’t a Jewish conspiracy theorist. He didn’t come up with the Peak Oil concept either. Joe is citing various conspiracy websites. Peak Oil is not a conspiracy. It has already happened in over half the countries in the world.

  17. Joe,

    Yes, I understand your theory: over half the countries in the world are engaged in a conspiracy to lower domestic oil production for their economies will become ever more reliant on foreign oil imports.

    Why hasn’t Japan drilled down to the great bon bon of abiotic oil at the center of the earth? An infinite supply of oil is just waiting there to be sucked to the surface, right?

  18. “We have hundreds of years worth of natural gas”

    Cheap nat gas may be at an end, also.
    The shale gas boom that drove the price of nat gas to under $2 per mmbtu, that had everyone so excited?
    Yeah.
    Chesapeake Energy is in deep kimsche because despite all the hype, turns out shale gas costs too much to drill and returns too little in profit.

    Shale gas may very well turn out to have been the most recent bubble, blown by an investment community desperate for return, from somewhere, anywhere.

    http://www.financialsense.com/contributors/bill-powers/is-chesapeake-energy-going-bankrupt

  19. The idea that Peak Oil is a conspiracy by the oil companies is ludicrous: the official position of the oil companies is that everything is fine and their publicists like Daniel Yergin write for mainstream newspapers.

    BTW, it is not like societies haven’t collapsed before from resource challenges. Look at Easter Island.

  20. Joe said:I hope they’re going to use the unconventional technology in Canada to tap the great reserves up north and wean us away from the turmoil and bullsh*t of the Middle East.

    But if we are weaned of Mid East oil then what reason would we have to fight Israel’s wars ….

    Peak Oil Ver. X.0 is Global Warming. The carbon fiasco …. surface all vegetative matter requires CO2 to survive and these idiots are against it.

  21. “What exactly is “Peak Oil” supposed to mean anyway?” – It means that we’ve IDed and extracted roughly half of the available oil. From this point on, oil gets harder to get, there is less of it, and the price goes up.

    As far as energy is concerned we still have plenty(and coal, and natural gas, and uranium, not to mention the source of all energy our planet has gotten or will ever get: the sun), but what was made possible with cheap oil won’t be coming back. In practice it means that the model of growth forever is over, which is good news for us, not bad news. Without seemingly infinite growth, whites simply cannot afford to engage in the status whoring that has marked the last half century. Without that growth, wealth transfers involve an unavoidable, undeniable transfer of resources from group A to group B. In short it will no longer be possible to ignore human nature and pretend that any of us is something that we quite clearly are not.

    As far as the military is concerned they’ll still be able to project force all over planet earth, but again, it will mean less butter for more guns, rather than the guns and butter strategy that has been persued. War would go back to impacting the people directly, and hopefully we’ll pay a bit more attention to them.

    The national ignition facility claims to be on the cusp of generating a positive energy return from a fusion reaction, but that is a long way away from being able to compete with coal. Likewise outright solar power is getting gradually cheaper, and new tech is refining how we can get such energy, but hydrocarbons are king and will be for the forseeable future.

  22. “But if we are weaned of Mid East oil then what reason would we have to fight Israel’s wars ….”

    RJP, if Peak Oil deniers (and abiotic oil fantasists) would shush, perhaps enough good White folks could holler loud enough that we could get started building the peak oil mitigation technologies, like (safe) liquid fluorine-cooled thorium-fueled nuclear power reactors.

    Such (safe) intensely concentrated (i.e., cheap) source of energy (well, cheap after build-out, anyway) would wean us off Middle East oil, and then we’d have no reason to fight Israel’s wars for it.

    http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/04/13/kirk-sorensen/thorium-the-magic-elixir-that-could-solve-our-energy-needs

  23. barb said: Chesapeake Energy is in deep kimsche because despite all the hype, turns out shale gas costs too much to drill and returns too little in profit.

    Chesapeake is in the shitter kind of because everything it did would have been hugely profitable had the price of nat gas not corrected following a very light winter. It needed supplies to be replenished …. they don’t need to be. Three months of heavy nat gas use are gone, never to be reclaimed, wells are drilled and ready to flow but there is already enough gas out there, and nobody needs it. Summer needs have already been locked-in by peak-gen power plants. http://futures.tradingcharts.com/chart/NG/W

    But the main reason Chesapeake is in the shitter is Aubrey McClendon is a fucking shooter, a BSD (big swinging dick). http://en.wikipedia.org/wiki/Liar%27s_Poker

    Big Swinging Dick — A big-time trader or salesman. (“If he could make millions of dollars come out of those phones, he became that most revered of all species: a Big Swinging Dick.” p. 56.) The opposite of this term is Geek, used to describe a just-hired trainee.

    Aubrey bet the company on his own personal wildcatting and got called out when the price of nat gas plunged.

  24. Hunter Wallace says: Do you remember all the talk about algae and switch grass?

    I for one don’t want to find out what could happen when you put thousands to millions of acres of color into the seas that have the ability to absorb light (heat). I do not think that can be good ….. and that really might produce global warming ……. And who knows what hot spots in seas that alter natural ocean flows would result in. Meteorologists/climatologists can’t even his 50% on a weather pattern traveling cross country weather ….

  25. @Hunter Wallace
    As far as your question about Japan, I explained that in my post resonding to your question about Japan ( and other questions) yesterday under the article,”Kuntler’s New Book”.
    I specifically stated in the post that half the countries in the world are not actually a part of the conspiracy.
    They are coerced into doing things the way the american oil companies want them to do things through the London/New York banking system with the US military ready to pounce if they don’t stay in line. I explained all this yesterday in my response to your questions.
    My answers are the same as yesterday.
    The oil companies are not free agents exactly– They too are controlled by the big banks and have to play by the rules set down by the rothschilds and other big-shot bankers. ( see henry makow article he put up today).
    I am glad to learn that the american companies are finally starting to use unconventional technology– abiotic oil or not– this is a good sign.
    The sooner the US weans itself off the MIddle East oil fields the better. Less wars for Israel based on the ostensible reason that the wars somehow involve oil.
    The wars in the Middle East are not about oil– the wars are about Israeli economic expanionism (rothschildism, I shall call it)
    The use of unconventional technology now means that there are enough men in the oil industry doing their best for the country. I commend them.
    We need to stop fighting wars for the rothschilds/rockefellers ( they are two very old pals) agenda.
    I have given enough websites and info for the readers over the last two days to decide for themselves–either way about the oil situation.

  26. From the peak water wiki: “The United States has about 5% (1/20) of the world’s population, yet the US uses almost as much water as India (~1/5 of world) or China (1/5 of world) because substantial amounts of water are used to grow food exported to the rest of the world. ” – I love the implication that others are entitled to our resources just because we didn’t overpopulate our nation, but even that isn’t as good as the discussion of how our southwestern states are in dire straits on the water issue, without mentioning the massive and rapid demographic influx that has taken place in the last half century.

  27. barb – I have been a huge fan of nuclear energy for years. Nuclear’s problem, like all power sources except for straight solar is that it requires water. Water has people around it. People don’t want nuclear around them. People don’t want coal around them. People don’t want any power around them

    Solar is a pipe dream. Straight solar sucks because it is enough for little more than one (maybe two down south) level of living. It can’t be used for vertical environments …. cities. The only way for it to be viable is to over install the panels so you are generating more than you need during the day (the one floor limit in the north) and selling it to offset your night-time buy back, batteries are too expensive to play with and honestly too dangerous.

    Solar power plants …. LMAO ….. yeah, build a power plant that requires water in an area that is already at a water deficit …..

  28. “The sooner the US weans itself off the MIddle East oil fields the better. Less wars for Israel based on the ostensible reason that the wars somehow involve oil.
    The wars in the Middle East are not about oil– the wars are about Israeli economic expanionism (rothschildism, I shall call it)”

    Shall I bother to respond to something Joe posts? Yes, I shall, for folks who may not have seen it.
    There are 2 groups in U.S. that are politically inclined to give military aid (including troops / fighting wars for Israel).

    One is Christian Zionists nutjobs who think “standing with Israel” will make Jesus return in their lifetimes. They think they are the “this generation” that Jesus was talking about would see his return — so long as Israel, as it is commonly understood, exists. These people are brainwashed by the likes of John Hagee.
    They also think the bible tells them that if they “bless” Israel (meaning do their bidding, including fighting their fights for them) that God will bless America. Not much we can do about those folks but hang on til they all die off.

    The other bunch I call ordinary Americans. Many ordinary Americans have bought the AIPAC/neocon hooey that Israel is an “unsinkable aircraft carrier” for America to use as a base for bombing, if the Middle Eastern Arab crazies go taking a notion to interfere with the oil shipping through the Straits of Hormuz. AIPAC and the neocons have conned many ordinary Americans into thinking, if we tell Israel to pound sand, that the ensuing loss of this supposed unsinkable aircraft carrier would lead to oil shortages for ordinary Americans. So these ordinary Americans pressure Congress to keep on giving Israel anything it wants or claims it needs. Basically, they want Congress to bribe Israel to be our friend.
    These folks, if America were energy-independent (by LFTR technology, for instance) would come right around to being willing to have their congressman tell Israel, and by extension, AIPAC, to take a hike. With AIPAC no longer holding U.S. congressmen by the short hairs, American Jews would lose much of their power and influence.
    THAT could be a significant first step to White Americans securing the existence of our people and providing a future for White children.

  29. I’ve written tons of posts about white sell-outs and the situation in the country as to regards to the need for white americans to wake up and see clearly how they are ruled.
    I written plenty of post about christian churches and how they love the whole system.
    501c and all that– lots and lots of posts.
    I am not in disagreement with the need for white americans to wake up– the overwhelming number of posts I have written to “OD” over the last month about the subject proves it. Since first finding the “OD”.
    Just because I posted some info about abiotic oil– and provided some websites about another side to the issue– doesn’t mean I am not patriotic. My posts are very patriotic– I am as patriotic towards white Americans as anyone else who posts here.
    I provided the readers with some non-mainstream info.That’s all.
    I never asked or demanded in any way that everyone–or even one reader –agree with me. We are all free to come to our own conclusions ,of course.
    Any individual reader can to go the websites I provided,or to search the net with the search terms I suggested, and come to a decision about it on their own.
    We can all agree, I think it’s safe to say, that we are against going to war for Israel’s sake.That’s been one of main points throughout. I have written many posts about how the churches support commie uncle sam’s agenda.And many posts about all the different types of white sell-outs.
    Abiotic oil or not, there exists the technology and the resources (In Canada) and the know-how to wean the country off Middle East oil.
    And yes of course AIPAC is on the side of the rothschilds and the big-shot bankers. That’s how the members of AIPAC have so much power and say, they are very much tied into the whole banking system.
    As far as criticizing christians go, I still blame the christian lawnmakers and Woodrow Wilson for signing the federal reserve act in 1913. They signed the bill with full free will and volition. I have written quite a posts about that also. Many.

  30. I know folks here won’t like this, but worrying about resources is wasteful of our personal energy. Once we’re a free White Dixie, and after a few years of addressing more immediate and pressing concerns, we will have the capital to invest in technology to address these issues and if that doesn’t work out like we want, we are very good at war, and the nations with these resources are not. That’s the way successful, long lasting and stable nations do business

  31. another think about this “debate” that grinds my gears is… people fix your own down power supply needs. Do what you can to solve your issues and worries at your level

  32. The Peak Oil theory predicts that reserves will be depleted, production levels will decline, and prices will inevitably rise. Wrong, wrong and wrong.

    Proven reserves, i.e., the amount of oil that can be profitably extracted and marketed, are growing, and as the extractive technology continues to improve they will continue to grow, from both conventional and unconventional sources.

    Production levels may have declined slightly since 2006, but they are expected to grow by 17 million bpd between now and 2020. That’s big. And the geopolitical implications of the US achieving “unprecedented output” and helping to make the Western Hemisphere energy self-sufficient by 2020 are huge.

    And I just heard on CNN this morning that oil prices are expected to keep falling for the next few months because demand is flat and production rising.

    Peak Oil assumes perpetual shortages when in reality we can expect a glut of oil on the market in the coming years. So why waste time worrying about a chimera like Peak Oil when there’s all kinds of other issues that really are threats to our way of life?

  33. Peak oil is not a “chimera”.The lie is used as an excuse to go to war. That’s the problem.
    GOOGLE: ” Thomas Gold + Abiotic Oil”
    GO TO : ” enviroliteracy ” : http://www.enviroliteracy.org/article.php/1130.html
    GO TO : ” canadafreepress ” : http://www.canadafreepress.com/index.php/article/3952
    GOOGLE: OIL IS ABIOTIC
    Lots of great information.
    My complaints about the whole system– the rothschilds and rockefellers working together for their own interests at the expense of the USA — are beyond cavil.
    The Peak Oil Lie is used to as an excuse to keep uncle sam’s empire going on and on.
    There is no oil shortage. It is a lie.
    While it’s true that the peak oil lie keeps the price of gas high– that’s a side benefit for the rockefellers and the big-bankers — that’s not the real reason for the peak oil lie.
    The peak oil lie is an excuse to make war in the Middle East and any other place the big-shots deem “necessary”.
    More and more people are waking up to the lie– finally. Some within the american oil industry are doing their best to get the truth out — considering all the pressure they’re under to shut up and go along with the official story– the official lie– I give these patriotic americans in the oil industry my respect. They must labor under a system designed at the very top to be ininimical to the USA and white Americans.
    I got a very long lists of websites. It would be extremely time consuming to type them all out. That’s why I recommend the google search terms– in this post, and my other posts. Also, I got some google search terms and some other peak oil websites listed under the article:
    “Kuntsler’s New Book”.

  34. (1) Peak Oil predicts that global conventional oil production will peak and go into decline like it has already done in over half the nations in the world.

    (2) Peak Oil theory predicts that prices will rise until demand is destroyed and economic growth is stiffled. This forces the economy to contract. It predicts extreme price volatility, not a steady and irreversible increase in prices.

    (3) Proven reserves … of what? Tar sands and shale oil are not conventional oil. It is not the same thing. The energy return on investment is nowhere near as high.

    (4) Production levels hit a peak in 2005, slightly declined, then hit another peak in 2006, and have stagnanted since that time in the face of surging global demand from China and India.

    (5) The only reason stuff like the Alberta tar sands is even bothered with is because we are running out of options will conventional oil.

    (6) In 2005, a glut of oil was predicted that never materialized. Instead, production hit a peak and then a plateau, which the forecasts overshot by a considerable margin.

    (7) Several months of oil over $100 a barrel has probably destroyed demand and sent the economy back into recession again.

    (8) “Expected to grow” is the key phrase. Forecasts of growth made early in the last decade proved to be far off the mark.

    (9) Peak Oil wasn’t a chimera – American oil production peaked in the 1970s and Alaska oil production peaked in the 1980s. What’s true of America or any country that is past peak (half the nations in the world) is necessarily true of the world at large.

    (10) The world peaked in 2005/2006. We’re now in the fourth year of a depression.

  35. We’re not worried about resources.

    It is just one of those things that is such an insurmountable problem that it will put reality itself in the driver’s seat for the forseeable future.

    This is a list that includes the water problem, the unsustainable degenerate culture, the aging crisis, the race crisis, the political crisis caused by diversity and scarcity, and the financial crisis which is the most “notional” of all the problems and is hostage to the failure of underlying systems.

  36. ever notice how with some people it’s never an argument over facts or a disagreement but a lie etc?

  37. We haven’t reached peak oil but we’ve probably reached peak gold. And, when the financial system collapses – and it will – you’ll better have some of that darn gold.

  38. Ever notice how uncle sam ( FDR) confiscated gold in 1933 and in return gave American citizens worthless fiat money?
    Gold is not going to do one much good when the food shipments are blockaded and there’s no food to be had .
    The original Latin meaning for “Poverty” is ” No Food”.
    Not saying one shouldn’t have gold– just don’t get too complacent about it.
    If food shipments are blockaded, and there’s no food to be had– your gold is not going to help you.
    May want to store food and other essentials in case of massive civil disturbance while you count your gold — just in case.

  39. “And, when the financial system collapses – and it will – you’ll better have some of that darn gold.”

    I like gold. I love silver. I buy from APMEX.com (American Precious Metals Exchange). I don’t know if the company is owned by Jews or not — like I think Kitco is — but at least they’ve always given good prices and sent my stuff without delay.
    One “Jewy” thing about Kitco is their “pool account.” Supposedly you send your money to Kitco and they then buy gold for you and hold it for you.

    Yeah, surrrrre they do. Like hell. More likely, they are probably taking your money and don’t buy gold — and that drives DOWN the price of gold. (Since you’re not taking physical off the market, it’s there and available to be leased out, making it look like more supply exists than really does –driving down the price.)

    Very “jewy” to secretly work against the interests of one’s investors, as I believe the pool acct. concept probably does.

    Goldman Sachs worked against their investors too, selling MBS’s to naive pensions funds — while secretly SHORTING those very instruments.

    Kitco’s pool acct. is probably why they hire Jon Nadler (Jew, I think) who is always bearish on gold — talking down the price helps Kitco, as its pool acct. is a de facto gold short, imo.

    I think the gold etf GLD probably is pulling some sort of similar scam.

    Point is: If you don’t hold it, don’t count on being able to get it.
    Buy your gold from someone trustworthy and take possession. Don’t buy futures. MF Global’s ripoff of even sophisticated investor folks like Gerald Celente proves that’s not safe either.
    Also, when your gold comes, don’t store it in a bank safe deposit box. If mass bank closures come to America, you can be sure safe deposit box contents will be confiscated.

    On the other hand, independently audited bullion funds Central Fund of Canada CEF and Sprott’s silver fund PSLV may be safe enough.

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