Last Stop For Fireworks

Have you ever driven down interstate 95 through Pedro’s?  You know the truck stop on I-95 where Federal Reserve Chairman Ben Bernanke got his start placing hot dogs onto the perpetually rotating grill.  If you haven’t been there, then maybe you saw the movie City Slickers starring Billy Crystal and the scene where Curly (Jack Palance) explains to Mitch (Billy Crystal) that “there’s just one thing” that Mitch needs to know to make it through life.

Whether you’re talking about the song Hotel California, or your crossing the state line from Pennsylvania into Maryland and this is your last chance for fireworks, the concept of The Last Resort is a powerful one indeed.  Dave knows about the power of backing people into a corner, the prisoner’s dilemma and quantum theory in general.  You see Dave is a professional negotiatior.  In over thirty years of negotiating, if Dave has learned one thing it is that the human mind, if nothing else, is free to make its own choice. 

The folks at the Rand Corporation decided to dig into this concept on behalf of their client, the U.S. Government in the 1950′s.  If you have $16 to spare you can buy a technical paper from the Rand Corporation (they’re on SALE – the normal price is $20 http://www.rand.org/pubs/papers/P7030.html) or you can read about it for free on Wikipedia http://en.wikipedia.org/wiki/Prisoner%27s_dilemma.  It’s all about inductive reasoning. 

When Karl Popper put forth his concept of an “open society” rather than a “free society” it was based on the concept of potential falsifiability as creating a distinction between science and non-science.  When you delve into the area of economics, often referred to as a “soft science”, this is a big deal and George Soros knows that.

If you can convince people that this is indeed their last stop for fireworks, whether they wanted fireworks or not has now become the key conversation inside the mini-van.  That’s what behavioral economics is all about… changing the conversation; nudging us in the direction of making a choice that we may not have even previously been considering.

In the following video put forth by George Soros, he attempts to convince us that the ESFS is indeed the dealer of last resort.  Our last chance to stop and buy a burrito from Pedro, fill up the mini-van and wash it all down with a Big Gulp.  Once you’re convinced that the ESFS is the last resort, then you’re convinced that the previous financial sovereignty (at least from a debt perspective) of the Euro-dealing nations is no longer an option.  Once the ESFS is in place, the cornerstone is set for a pan-European bond similar to our U.S. Treasuries.  Once those bonds are in place, then Soros is one step closer to the creation of an occidental bond which will be the outcome of the next crisis and the implementation of the reset switch.

 To learn more about the distinction between “open” and “free” such as when a realtor holds an “open house” as opposed to Fannie Mae giving away a “free house” you may enjoy reading these Soros-related posts:

http://tradewithdave.com/?p=5993

http://tradewithdave.com/?p=6164

 

 

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