The main purpose of the World Economic Forum – every year – is:
- to gather the world’s most influential people together so that the world’s most powerful lobbyists can explain to them the political and economic agenda for the upcoming year and
- to reassure Main Street that the world’s leaders have ‘got their backs’ and are working to ensure their continued prosperity which will placate and anesthetize the masses into a state of inertia whilst the world’s elite prepare for the financial cataclysm their leadership has made inevitable.
The above being said, before you read any further “conclusions” of the 2016 WEF – the supposedly profound and brilliant summary of the thoughts of these greatest minds – I suggest you:
- drink several espressos to help keep you awake as you read it and
- have some of your favorite remedy for an upset stomach to calm your queasy innards ready after you finish reading it as its leaders, in fact, have not a clue as to how to guide us through the morass that is the global economy.
According to the “research” I have uncovered while “attending” this year’s forum the central bankers and governments intend to:
- add a new word to the English language. This addition was motivated by a recognition that the word ‘debt’, as defined by Merriam Webster, implies something that is owed and will be paid back. This definition is becoming a very Inconvenient Truth for the world’s bankers and politicians. It has been proposed that the word “debt” be replaced with the word “agfok”, an acronym for “A Gift For Our Kids”. This would be a recognition of the ‘facts on the ground’ that the 52 trillion dollars of global government debt will never be repaid. It will simply be a giant millstone we will tie around our children’s neck as we baby boomers depart this earth and
- to convert the payroll of the world’s central banks from fiat currency to Bitcoin. It appears that the central banker’s public protestations of confidence in the world’s monetary system based on Fiat Currency does not extend to our central bankers desire to keep their own personal finances in order.
When I looked up from my “research” I was startled to see the familiar face of my old friend, Gustavo Laframboise-Pierre, the Director of Statistical Creation at the European Central Bank [ECB] smiling at me. My relationship with Gustavo traced its inception back to my days on Wall Street when I specialized in packaging worthless securities into triple-A rated investment grade pools of money to be sold to anyone with a pulse. Sadly I spent the large sums of money I earned for providing this public service on myriad types of gambling including significant wagers with my favorite bookie who was none other than the man standing in front of me.
Gustavo’s life began its rapid ascension to its current lofty position when a senior member of the ECB, while visiting New York, in a crack and alcohol induced stupor placed a wild, reckless, huge and ultimately ruinous and incorrect wager on the outcome of the 2010 World Cup with Gustavo. The only way the debt could be settled was for the senior member of the ECB to offer Gustavo a highly paid sinecure at the ECB. Gustavo became the ECB’s Global Director of Statistical Creation. His job was to fabricate statistics on a global basis that would support whatever “strategy du jour” the world’s bankers and economists were proposing on any given day. My good friend and former bookie was now a formidable force in the global banking industry.
In fact, it was Gustavo who had proposed inventing the word “agfok” to replace the word “debt”. Take notice when it is introduced later this year.[The original article was written by David Hague (www.davidhague.wordpress.com) and is presented here by the editorial team of munKNEE.com (Your Key to Making Money!) and the FREE Market Intelligence Report newsletter (see sample here – sign up in the top right corner) in a slightly edited ([ ]) and/or abridged (…) format to provide a fast and easy read. You can also “Follow the munKNEE” via Twitter and/or Facebook.]
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