Today a 40-year market veteran sent King World News an incredibly important piece that discusses everything from the New World Order to global monetary collapse.  This piece exclusively for KWN also notes that when the world monetary system collapses, life will go on.

Quintus Fabius Maximus Verrucosus was a Roman politician and general who lived between 280-203 B.C. He came to fame during the years when Hannibal was ravaging the Roman armies and countryside. After the disastrous battle of Lake Trasimene during which another consular army was wiped out by Hannibal, a panicked Roman Senate called upon Fabius to take over the defense of the state. Fabius was given the rarely used power of Dictator….

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Instead of confronting Hannibal, Fabius’ tactic was to delay which earned him the Latin name, “the Cunctator”. Fabius knew that the Carthaginians possessed superior military capabilities. In addition, he felt that the Roman gods had been disrespected leading up to the Trasimene disaster. His first step was to order massive sacrifices and musical festivals. It was also reported that he ordered each Roman to spend precisely 333 denarii and sesterces, the coinage at the time, another superstitious act.

Worst Military Disaster In 2000 Years

The Cunctator’s policy of delay turned out to be right. However, the Romans were impatient. Frustrated with the lack of a final victory over Hannibal, the Romans turned over command to two other generals, Varro and Paullus. Those two generals confronted Hannibal at the infamous battle of Cannae, leading to the deaths of as many as 70,000 Roman foot soldiers. Out of 6,000 cavalry, only 370 survived. It was the worst military disaster in the last 2,000 years, until World War I. Hannibal’s strategy that lead to the victory is still revered and taught in military colleges to this day.

A lesser-known impact of Fabius and his strategy is called the Fabian Society from which was derived the term Fabianism. The Society was founded in 1884 in London. The Fabians were devoted to bringing socialism to the world, but in a gradual, not revolutionary change. The delaying, non-confrontational approach to battle lead them to name their group after Fabius.

A New World Order

Their version of the New World Order has been undermining the modern world for over 130 years. While their approach was gradual and stealthy, the results of their efforts and others are becoming readily apparent to those who are willing to look. In that relatively short historical period, by whatever name the central planners can be called, they and their proxies have succeeded in destroying the so-called ties that bind.

Among these would be family, faith, work ethic, self-reliance, functioning capital markets, the rule of law and the savings of the world. It might have begun with good intentions, but the mess that has been created is historic and massive.

An early devotee of Fabianism was the first prime minister of Singapore, Lee Kuan Yew. He later realized that it was impractical and abandoned his early attraction to their precepts. He was quoted as saying, “We did not see until the 1970s that was the beginning of big problems contributing to the inevitable decline of the British economy.” Singapore developed their own economic beliefs and went on to be the success we see today.

End Of The Current System

Fabian beliefs have also succeeded in unlocking Pandora's Box and releasing the ancient hatreds of the world. The recent events in Paris and now Germany are mere hints of what lies ahead. The end of the current system and inevitable increase in conflict continue to approach at an accelerating pace.

With a heavy sense of deja vu, the markets have been following a familiar pattern for this time of the year. The stock market sells off, interest rates decline even further and the precious metals and miners jump to the front of the pack. So far this year, the metals and miners are outperforming the stock market by about 15-16%, similar to what we saw for most of 2014 until the smashes began.

The price of oil remains under attack. The Saudis and OPEC are almost sounding desperate to drive the price lower with their recent comment that they would not lower production at any price level. The IEA continues to underestimate the true demand for oil, which is in fact holding up on a global basis. There is no supply/demand problem, just a strategy of price reduction for geopolitical reasons. It is interesting to note that the price of oil is down 17% YTD, but the XLE proxy for the large energy companies is only off 4%. Somebody is betting heavily that the decline in the price of oil is artificial and temporary and looking beyond the propaganda in the mainstream media.

Accumulating assets with deep value has been painful at times. Those asset classes have been in the crosshairs of the central planners for some time, and the apparently unlimited efforts to suppress prices has been effective so far. That should not dissuade people to continue acquiring more, or at least maintaining current positions. When the world monetary system collapses, life will go on. People will need some form of sound money as well as food, energy, water and security to name a few.

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Eric King