> Experience teaches
Lessons from Smedley Butler
Smedley Darlington Butler (July 30, 1881 - June 21, 1940), nicknamed "the fighting Quaker" and "Old Gimlet Eye," was a Major General in the U.S. Marine Corps and, at the time of his death, the most decorated Marine in U.S. history. Butler was awarded the Medal of Honor twice during his career, one of only 19 people to be so decorated.

Excerpt from a speech by Major General Smedley Butler, delivered in 1933:

War is just a racket. A racket is best described, I believe, as something that is not what it seems to the majority of people. Only a small inside group knows what it is about. It is conducted for the benefit of the very few at the expense of the masses.

I believe in adequate defense at the coastline and nothing else. If a nation comes over here to fight, then we'll fight. The trouble with America is that when the dollar only earns 6 percent over here, then it gets restless and goes overseas to get 100 percent. Then the flag follows the dollar and the soldiers follow the flag.

I wouldn't go to war again as I have done to protect some lousy investment of the bankers. There are only two things we should fight for. One is the defense of our homes and the other is the Bill of Rights. War for any other reason is simply a racket.

There isn't a trick in the racketeering bag that the military gang is blind to. It has its "finger men" to point out enemies, its "muscle men" to destroy enemies, its "brain men" to plan war preparations, and a "Big Boss" Super-Nationalistic-Capitalism.

It may seem odd for me, a military man to adopt such a comparison. Truthfulness compels me to. I spent thirty- three years and four months in active military service as a member of this country's most agile military force, the Marine Corps. I served in all commissioned ranks from Second Lieutenant to Major-General. And during that period, I spent most of my time being a high class muscle- man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism.

I suspected I was just part of a racket at the time. Now I am sure of it. Like all the members of the military profession, I never had a thought of my own until I left the service. My mental faculties remained in suspended animation while I obeyed the orders of higher-ups. This is typical with everyone in the military service.

I helped make Mexico, especially Tampico, safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefits of Wall Street. The record of racketeering is long. I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-1912 (where have I heard that name before?). I brought light to the Dominican Republic for American sugar interests in 1916. In China I helped to see to it that Standard Oil went its way unmolested.

During those years, I had, as the boys in the back room would say, a swell racket. Looking back on it, I feel that I could have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents.

Of note, Chapter 4 "How To Smash This Racket"
http://www.informationclearinghouse.info/article4377.htm
http://en.wikipedia.org/wiki/Smedley_Butler

Market faces issues in South America as well-

Unilever, P&G Bow to Pressure From Argentina to Freeze Prices

http://www.bloomberg.com/apps/news?pid=10000086&refer=latin_america&sid=adFzURtGNFjA

Chavez Threatens to Jail Diplomats, Shut Refineries

http://www.bloomberg.com/apps/news?pid=10000086&sid=aOLnBqtbamlQ&refer=latin_america

But Iran is the big one-

Why the West will attack Iran

http://www.atimes.com/atimes/Middle_East/HA24Ak01.html

stockman-

Did you note that it all hinges on DEMOGRAPHICS? I couldn't agree more. The entire world nearly revolves around this as it virtually dictates our consumption and spending patterns , our religion and our politics. Demography is one of the specialties in my advisory practice.

Folks-- what do you use to check the gold RSI? Thanks

Regarding nuclear weapons; read "One Point Safe" by Leslie Cockburn.

With over 50 suitcase sized nuclear bombs unaccounted for, they probably already have them.

Nice books you read Bill. I like Taoist philosophies as well. A quote by Laotzu(which gave me a deep impression) was "The best king does not praise itself" or an equivalent of that.
Met this Irish guy on the net(a forum).
"I'm Irish and living in Ireland. The bank will give $12k (€10k) personal loans, no questions asked. I have friends from Asia who work for minimum wage $8.7 per hour and they got loans, some of their friends just arrived in Ireland 3 months and got loans. The bank is even ringing its account holders and asking them do they want a loan. It's also on TV ads "Bank of Ireland, no questions asked." Ireland has been booming now for the last 10 years, it's one of Europe's top economies, it's in the top 5 or 3. You don't want to know how much real estate is here, go to www.daft.ie and have a look. A 50 year old tiny 2-bedroom house was $40k 10 years ago and now it's over $456 (€380k), it's crazy. Apart from RE the cost of living would be the same as NY not Tokyo. "
That was what he posted. Quite interesting. If what he posted was reliable, it seems the bubble has spread to Eurozone as well, not surprising as the rates there are accomodative.