Power in Mass - Collateral Damage

By: Joseph Russo | Thu, Feb 3, 2011
Print Email

Those seated comfortably in every niche of concentrated power should duly note that their well-guarded monopolies of power and influence are not nearly as invincible as they might perceive them to be.

As evidenced in Egypt, on the turn of a dime, what at one moment appeared status quo turned business-as-usual into a living nightmare.

Like many other global indices, the ETF tracking the Egyptian stock market was moving up quite nicely from its July 2010 lows. Then suddenly, the people had enough, and revolted against their perceived oppressors, the ruling elites.

EGPT NYSE + BATS

As evidenced by the West's struggle to take sides in concert with the lack of help from Egypt's military when the going got tough on Wednesday, it is abundantly clear that all ruling classes will quietly resist all philosophies or political economies that will end their monopolies and put them out of business.

It is not difficult to connect the dots associating recent uprisings as collateral damage linked to various global concentrations of power fighting vehemently to preserve their dynasties since the financial sphere's 2008 outright failure and collapse.

From Central Bankers and their cartel of Primary Dealers to behemoth transnational Corporate Entities and their cartel of Lobbyists, to all of the varied layers of hypocrisy and corruption embedded within global political spheres; all such concentrations of power bear equal responsibility for inciting the type of collateral damage spreading across the East.

Make no mistake, every niche concentration of power across the globe has blood stained hands. The trouble is, when everyone's guilty, no one is in a position to either judge or administer punishment for crimes committed.

Despite the reality of their outright insolvency failure, US banks were deemed by the ruling class as "too big to fail" and no one was held accountable. This is a pristine example of widespread guilt leading to further exploitation.


Coming soon to a Capital near you...

If all of these power-hungry Einstein's don't wake up and smell the coffee, they will no doubt, one-by-one, inevitably come face to face with the real Power in Mass - the power of their people revolting against that which specifically harms and impedes them, and is inherently unjust regardless of language, religion, race, politics, or geographic location.

The chart below shows the Federal Reserve Systems poster-boy stock index as proof of their widely perceived invincibility.

Following nothing more than a mild hiccup last Friday on the civil unrest in Egypt, the premier transnational US index was back up at fresh highs for its move within 48-hours. So much for yet another "top" called for by the old Elliott wave guard.

In sharp contrast to Egypt's exchange, the mega-complacent bullish stampede from the July 2010 low continues thus far in the good-ole US of A.

$SPX INDEX

No matter what unfolds, rest assured that civilization shall continue to thrive.

Remain prudent, prepare for the worst, expect the best, and recognize that you are indeed the master of your own destiny.

Until next time,
Trade Better/Invest Smarter

 


 

Joseph Russo

Author: Joseph Russo

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo

Since the dot.com bubble, 911, and the 2002 market crash, Elliott Wave Technology's mission remains the delivery of valuable solutions-based services that empower clients to execute successful trading and investment decisions in all market environments.

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating their exposure to the financial markets.

Since the official launch of his Elliott Wave Technology website in 2005, he has established an outstanding record of accomplishment, including but not limited to, ...

  • In 2005, he elicited a major long-term wealth producing nugget of guidance in suggesting strongly that members give serious consideration to apportioning 10%-20% of their net worth toward the physical acquisition of Gold (@ $400.) and Silver (@ $6.00).

  • In 2006, the (MTA) Market Technicians Association featured his article "Scaling Perceptions amid the Global Equity Boom" in their industry newsletter, "Technically Speaking."

  • On May 6 of 2007, five months prior to the market top in 2007, though still bullish at that time, he publicly warned long-term investors not to be fooled again, in "Bullish Like There's No Tomorrow."

  • On March 10 of 2008, with another 48% of downside remaining to the bottom of the great bear market of 2008-2009, in "V-for Vendetta," using the Wilshire 5000 as proxy, he publicly laid out the case for the depth and amplitude of the unfolding bear market, which marked terminal to a rather nice long-run in equity values.

  • Working extensively with EasyLanguage® programmer George Pruitt in 2010 and 2011, the author of "Building Winning Trading Systems with TradeStation," he assisted in the development of several proprietary trading systems.

  • On February 11, 2011, he publicly made available his call for a key bottom in the long bond at 117 '3/32. Within a year and half from his call, the long bond rallied in excess of 30% to new all time highs in July of 2012.

  • For the benefit of members and his general readership, he responded to widespread levels of economic and financial uncertainty in the development of Prudent Measures in 2012.

  • He publicly warned of a major top in Apple on October 26, 2012 in the very early stages of a 40% decline from its all time high.

Copyright © 2006-2014 Joseph Russo

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com

SEARCH





TRUE MONEY SUPPLY

Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/