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Guest Post: Bankrupt Nations Try To Stop The Future From Happening, Fail
From Simon Black of Sovereign Man
Bankrupt Nations Try To Stop The Future From Happening, Fail
Debt is slavery… or at least indentured servitude of the worst kind.
That looming mortgage, the high interest credit card debt, the
short-term car loan– these are the forces that keep people from breaking
free and taking action.
Ironically, debt begets more debt. According to FinAid, the average
US student loan debt for a four-year private university graduate is
nearly $36,000, and $24,000 for public. Throw in that first car loan and
maybe a mortgage, and suddenly you’re staring at hundreds of thousands
of dollars in demoralizing claims on your future income.
At this point, most people figure… ‘hey, I’m already in debt up to my
nose, might as well get in up to my eyeballs and buy a new plasma
screen on credit.’
Debt is an enormous psychological burden that influences life’s major
decisions. It’s why so many people stay committed to jobs that are
unfulfilling in cities they detest under conditions they find
disheartening. Nobody wants to rock the boat too much… take too many
risks and you could lose your job, and hence the ability to make those
monthly payments.
This familiar story has been playing out across the developed world
for years. This is not an ill, however, that exclusively affects
individuals and families. Even at the macro level, debt has the power to
subjugate entire nations to the whims of their creditors.
Enter the IMF.
In July 1944, world leaders gathered in Bretton Woods, New Hampshire
to be dictated terms of the new global financial system. The US dollar
was set as the global reserve currency, and the International Monetary
Fund was established to shower the world’s nations with the dollars they
needed to participate in this system.
Like most governmental and non-governmental organizations, however, the IMF eventually took on a life of its own.
(The CIA is a perfect example of this; formally established in
1947, the CIA was charged with… wait for it… being the ‘central’ agency
to coordinate US intelligence. It grew quickly into its own beast,
culminating in the creation of the post-9/11 National Intelligence
Directorate. It’s job? You guessed it: being the ‘central’ agency to
coordinate US intelligence.)
Over the years, the IMF became the roving economic police force of
the ruling class, coercing developing nations to take enormous loan
packages they had no hope of paying off.
As a result, the local IMF (or World Bank) representative in
developing countries became extremely powerful figures. Leaders in poor
countries were so terrified of loan default, the IMF was able to shape
policy and allocate national resources as the west saw fit.
Clearly the tables have turned.
By 2011, the IMF’s biggest customers have become ‘developed’ (i.e.
contracting) countries like Greece which are relying more and more on
the generosity of China. Now with the IMF’s former chief locked up in
disgrace for the foreseeable future, the race is on to see who will
replace him.
The new order of things is very clear. The western hierarchy of the
past is insolvent, and its capital has migrated south and east. Western
leaders refuse to acknowledge this reality and are clinging desperately
to antiquated institutions like the IMF in order to retain control of a
now defunct financial system.
Newsflash: the IMF is only relevant to western leaders who live in
the past. French Finance Minister Christine Lagarde’s official bid to
become the new IMF chief only shows how pathetic their intentions are.
It’s like someone trying to take command of the Titanic as she’s headed
toward the ocean floor.
China, the world’s second largest economy, is routinely relied upon
to bail out the west… yet it has a paltry 3.65% of the IMF’s voting
power. Europe, however, is arguably the most insolvent region on the
planet, though it insists on remaining at the helm. Ultimately, the
market doesn’t care and has been orienting itself towards the developed
world for years.
Little by little we are seeing signs of a revolution in the financial
system– grumblings from Zimbabwe about establishing an asset-backed
currency, new exchange-traded gold contracts in Asia, more bank wiring
routes that bypass New York City, and corporations in the developing
world issuing debt on the international market in local currency with
ease.
I’ve written extensively that China’s renminbi is being increasingly
considered a reserve currency to compete with the dollar and euro. Other
developing countries have already entered into swap agreements to
accumulate renminbi reserves, and even western companies are issuing
renminbi-denominated debt.
There are signs of more liberalized exchange controls all the time;
it’s possible for individuals and corporations to hold savings in
renminbi through a variety of ways… you can even walk into the New York
City Bank of China branch and open an account.
The latest move is American Express’s new renminbi-denominated
Travelers Cheques– a ‘cash equivalent’ issued by a non-Chinese financial
institution. This is a major step, and its implications are far, fare
more important than whichever white person is jonesing to head an
irrelevant organization of the past.
Western leaders simply don’t want to accept their loss of primacy;
they’ve become enslaved themselves, not only by the insurmountable
sovereign debts they’ve accumulated, but by their stubborn refusal to
acknowledge the simple reality of a new system they can’t stop and don’t
control.
»
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Endings are also beginnings. I believe TPTB have an 'endgame' into the end of paper currency. By definition, this will be an end to all global paper. They want to hold power into a hard money currency.
That was a really interesting reply RobotT. Keep writing more like that.
It is my hunch as well that they will inflate it all away, but I would not assume that will happen and place all my bets on an inflationary scenario. I like diversification and agility...
Bravo: "live life right now and enjoy every day."
I'll grant you that point about Celente. That poor guy just needs to chill, yo.
> Today's debts will be inflated away and 10 -20 years from now, the staggering debts people are carrying will look much smaller.
It's a good plan. Sounds like a Ponzi to me tho. But, I'm hoping this Ponzi scam continues for another 30 years after which I'll be dead (or won't care).
The only unknown about the inflation scam plan is if it will work is an era of falling peasant wages AND (worse) debt destruction. Eventually the debts gotta be rolled over. Here's hoping the bondholders are a dumb as our peasants.
"Eventually the debts gotta be rolled over. Here's hoping the bondholders are a dumb as our peasants."
Muy bueno!
Robo, this story makes zero sense. $56,000 was what....approximately 2X your dads yearly income...WHICH IS COMPLETELY RATIONAL for buying a house. When your housing bubble popped in 2007 I think the ratio was closer to 5X yearly income - which was insane. There is "reasonable" debt similar to what your dad took on - then there is "irrational" debt like every turd took on near the top in 2007. Look at Vancouver and Toronto right now - houses there are 7-8X yearly income.....which will end in bloody massacre soon. Right now is a great time in the US to consider buying property again because your housing prices are nearing 2-3X income ratio again (next year is probably the bottom in your markets). Trouble is markets are occupied by greed and fear. Greed is still in the Canadian housing market and fear is in yours.
Robo that was great. Your Rothschild Masters are most pleased. There's a little something extra in this month's pay pal transfer. You presented a cogent, and even human argument that has merits.
Bravo.
I think the other sock puppets may think you, like pinocchio, will come to life as a real boy.
If debts don't matter, do taxes? Why should we pay?
The problem is too much debt gone wrong, spiraling out of control, in an exponential orgy of deflation (yes yes followed obviously by hyperinflation...we are a nation of coke, coffee and meth,it has to end in asymptotic action).
Fiat is gonna burn. Derivatives must be wiped out.
Prepare for the global financial reset.
Yep, too bad the propaganda falls apart in the face of wage deflation, runaway destruction of real employment and uncontrolled wage arbitrage...
It's always the little details that get the pathological liars hung up!
RoboTrader isn't a pathological liar. He's a paid sophist. Stop the paypal transfers, and he will stop posting. That would make him more of a small time sociopath for hire.
"I don't mind a parasite, I object to a cut-rate one." - Rick Blaine, Casablanca.
"Today's debts will be inflated away and 10 -20 years from now, the staggering debts people are carrying will look much smaller."
True, but as long as people keep themselves in a debt cycle/mindset, they'll just keep adding new debt to their pile, starting with the newest iPhone, flat panel TV, etc. Watching your debt load get smaller as a result of inflation will only work if one uses the same principle needed to stop credit card addiction.
...cut up the cards and STOP ANY FURTHER DEBT!
...ok go ahead, take out a big loan on a house and a fancy education...
I sure would like to see your face once interest rates rise or the banks have to actually colaterise their debts
"Linear thinking"...is a concept of the past, IMHO
I hear this as the message of the cultural descendents of Ronald Reagan's America.
Born in 1980 and lived on free Chinese labor and quality fell though the cracks while they put a noose of growing debt around the old usa your parents grew up in. In short, you get more toilet in the US paper and everywhere else in the world they crave the feeling of 500 euro notes in thier socks.
Credit is great if you can project your real cash-flows and have a range of uncorrelated assets to temper the leverage in play.
Tyler I will love to see a post regarding the american election systems and what are the option in establishing a new party here in US
and after that we can speak of change, because all other options will fail due to the manipulation those parasites are so good at.
TY
> Tyler I will love to see a post regarding the american election systems and what are the option in establishing a new party here in US
There are no options. The politicians are sold to the peasants like F150 trucks. It takes billions. The only thing the Red and Blue Team agree on is there's no need for a 3rd Team to get in on their political scam.
When corporation became people, the democracy game was over - and that happened generations ago. You can't have a pay-to-play representative democracy.
Just noticed a zerohedge mirror: http://radio.cl.zerohedge.org/ Didn't know mirrors were still going.
Marla used to spin late night trance music there, but not in a long time. There was IRC chat as well.
Miss it.
The later still exists. You'll find it if you want to :)
How will Ibiza fare during the economic collapse? The hippies colonized it a while ago. Think it has a chance of prospering during the downturn?
Just sayin...
"Debt is slavery.."
Not true. Debt is only slavery if you choose to pay it. If you run up a bunch of debt then tell the debtor to go fuck themselves, debt can be very empowering.
Words of common sense that wont get popular with the propaganda crowd 'debt is slavery'
That was my initial thoughts on debt, exactly.
Debt monopoly: The new Consumer Protection Agency, run by the the Federal Reserve (within the Federal reserve and financed by the Fed so no congressional financing or transparency needed) not only empowers the Fed to track every single financial transaction of everyone, in real time, but new rules will restrict private credit and lending.
Because, after all, your relatives and family friends are too stupid to know what they're getting into when they give you money for college. And it might be too risky to consumers to set up payments from their (evil) orthodontist who willing to set up payments for little Johnnies' braces, so everybody will need to go to an honest and regulatory compliant bank to get a loan for braces.
You know what's at stake here? It's the death of the yuppie. The aspirational rich-guy wannabe.
Without that urge to merge with the rich and famous, ( which was utterly doomed from the start) there is little reason to put yourself into killer debt like the kind that was so rampant over the last 30 years and crested into insanity with liar loans and option ARMS, leased Beamers and Mercedes SUVs, and expensive clothing that were still mass-produced but bore a certain label. All foisted on Americans as necessities but that turned into mirages if not nightmares
Now that the whole pyramid of debt has crashed it's still taking down the value of assets it backed, like the millions of McBoxes and McMansions. That mess will go on for years.
We're no longer in times when taking on debt is a good deal since real incomes, jobs and advancement opportunities, real estate and retirement benefits are all deflating.
But there's a long term benefit: people will shift their perception of what is valuable and desirable from cheap aspirational goods from other countries with high price tags to things that add to the quality of life in other ways. Getting off the aspirational hamster mill will come as a relief. And there's a good chance that people in the US will turn once again to making things instead of just consuming things made in other countries. That will set up its own virtuous cycle.
One of the main motivators of all humans is a search for status.
The banks just figured out how to harness that.
Being happy with what you have is an old, old truth. We just forgot it.
The pendulum swings. People get disillusioned with status, especially when it's fake and wannabe. Like a monkey in a suit. Like a guy from the hood wearing suspenders.
It was rare to meet someone who lived through the Depression that would take either credit, or charity.
True. And that was a reaction to the gilded 1920s when crazy debt and pretending to be rich were in
While transitioning my mind I ran across (and read) a book titled "Want What You Have."
Food, shelter and water (and love).
Time to stop jumping up and down for the organ grinder...
yep, watch the game in 5 years.
Someone just entering an ivy league college will be far worse off than someone who applys at mcdonalds and buys a silver coin a month.
The whole status, consume, follow the rules and get rewarded system is getting turned on its head
If in 5 years the ivy league is still operational it'll mean that TPTB's game is still on (the PM hedge will be kept in check). I'm thinking/hoping that this won't be the case.
Let me know when the hanging date and time and I will round up my Redenecgk buddies and be there and laong the way will pick up a few to be hung.
Debt= American way of superficial life as seen on TV>
Fuck the banks
+1
"It's the death of the yuppie"
I'll go further than you. I can foresee that the banker-type, and the suits they proudly wear today (oh their arrogance), will be as "popular" in our countries as the S.S. uniform was in the ruins of Berlin in April 1945. Wearing these clothes made/will make a target of you.
Wall St yuppie bankers you should buy a pair of overall (so working-class!). In 2013 or 2015 you might need them to stay alive in the streets of NYC...
Yep. Suits are getting scarcer here in NYC. They stand out more even on busy commercial streets on weekdays. They're starting to look anachronistic and silly, even dishonest
Funny thing about suits.
I made my first business trip to the Orient (Taiwan & H.K) in the late 80's. At that time, I and my customers all wore suits every day to work in the U.S., but on these trips we could go casual. The fact of the matter was, the people we were dealing with really could not afford to dress up, so we dressed down to work with them.
Gradually, our dress codes in America shifted and became continuously more casual...to the point I rarely wear a suit or tie anymore. But guess what. As we were becoming more casual in dress at home, the Chinese were becoming much better dressers. Now, the Americans look like slobs and the Chinese more professional and business like. We are the ones who can't afford the suits and ties every day.
You can think they look silly and anachronistic, but I assure you, there is a reason power players wear them. They carry a psychological message of competence, authority, of having your shit together. It may not mean that you do, but it sure helps fake it if you don't ;--))
Just sayin'.
I've nothing against suits, just empty suits, you know, like DC.
Funny thing about "suits" when video conferencing with well-dressed Chinese half-way round the world.
If you work from home, you can wear your birthday suit, and just show your face on the video teleconference...
and while the Chinese businessman is boring you to tears with a monotonous business pitch, your "silent partner" can be giving you a "heads up" out of screen view...or you can be jerking off to visions of lovely Chinese ladies.
Just sayin'
Suits don't transfer the right message in every circle or type of business, especially power suits: IT for instance. Serious IT people abhor suits and know right away that someone dressing to "impress" surely can't cut it. In the entrepreneurial world unless you are specifically in financial services or men's conservative fashion, suits are out. If you do business with Hong Kong bankers you need a shiny suit.
Here's a bit of history: not too long ago it was absolutely mandatory to wear a 3 piece suit on Wall Street, in any finance job or management. De rigueur. It transmitted the air of authority. Times change. Now you'd be laughed at. Casual Friday and Microsoft in the 1990s changed everything because the mandatory suit was no longer mandatory and was distinctly non-geek. From there it progressed. Now only some types of business require suits. And there are sub cultures: suit with no tie and open collar, shirt and tie but no suit.....When you hear that globalist banksters like DSK wear the power suits it sends a message.
yep. I outdress all my coworkers, many of whom dress slobbishly. I wear Brioni and Kiton suits, which make me look like a banker, according to my family's orthodonist. Surely overkill, but I abhor cheap suits. Better to find good deals and have a good tailor.
It puts out an air of respect and having your shit together. People treat you differently. It intimidates them, commands respect.
Let the slobs be slobs, I don't care. I've been on project teams where certain guys wear suits everyday while others go tie + shirt and the suits seem to convey professionalism even where there is no intrinsic merit. The suits rise to the top.
Monkey suit and choke chain says you're owned.
On the other hand, T-shirt and jeans hiding the rolex says something else. Big suits and empty hats, all hat and no cattle. Fuck off you fake, you've shown your true colors.
The suits die 10 fathoms down, with a rock anchor.
I recently went for an interview so wore a suit. On the train, both ways, the ticket collectors inspected and stamped everyone elses ticket but just gave me a nod and a smile and walked by.
I was furious. Just cos i'm dressed like a prick in a suit does not make me honest. infact, the most dishonest people in the world are the fuckers in suits.
By the way, I didn't get the job, it was for a bank so I came over a little negative in the interview lol.
man I haven't worn a suit in years, but you've just reminded me why I should!
I'll just wait for silver to go parabolic, then I'll get one...
No sweat! The collector just thought:' banker on the train, grate god there is some justice under the sky, seems to be the guy is not doing so good after all...'
You can think they look silly and anachronistic, but I assure you, there is a reason power players wear them. They carry a psychological message of competence, authority,,,
I was musing the other day that it was a planned transition. Imagine David Rockefeller having a converstion with one of the Think Tank he owns back in the early '90s.
So how do we get the proles to know their place and to identify more with their station in life?
Change their dress sir. Separate the US from the Them. We could start out with 'Casual Fridays' They will love it. 'Freedom' they will think. Then expand it to all week. Soon only IMPORTANT people like us will wear suits. They will look (and feel) more like average workers.
Well get on that and make it happen...
And here we are...
Watch the Dr. Seuss cartoon, 'Sneeches on Beeches'
'We have stars on ours'
The good Doctor was pretty spot on most of the time.
Respect no one who owns more than one suit...
> "Western leaders simply don’t want to accept their loss of primacy; they’ve become enslaved themselves, not only by the insurmountable sovereign debts they’ve accumulated, but by their stubborn refusal to acknowledge the simple reality of a new system they can’t stop and don’t control."
"western primacy" was established first by military conquest, then by confetti conquest - pls explain how a usurpation of the latter in any way negates the former
it was founded on trust. primacy,
and it was broken. that is it
http://bepast.org/disease_information/Glanders/Glanders_vaccine_fails_vs...
Hands up who doesn't know that:
a) Bioweapons type IV are now genetic specific
b) Israel has been getting shit hot under the collar for them since S. Africa nuke negotiations [how.. ironic...]
c) If you do your research on "zombie apocalypse" spread, then you're actually interfacing with BWiV research papers. "Zombie apocalypse" is actually just "patient zero" research done with a nice GUI to make sure it is accurate. Durrr.
CF: The USA has refused to sign UN treaties on Chem/Bio weapons, and has continued to develop them since 1946 when Nazi / Japanese [731] intel was brought into the fold.
In other words: type IV [rumoured V, but that is TTS] bioweapons exist, have been actively tailored and are a weapon to be utilised in desperation.
A good read you may enjoy;
The Last Gasp Trevor Hoyle
Written in 1988 but could read like today. Cheap on Amazon ($2.51).
You make the ability to extinct the human species sound like a BAD thing.
That's big business.
Agreed, debt is slavery and as long as a mind is preoccupied with paying the debt, one can't be free no matter how much one ignores thy fact.
Hm, time to do some readying, wonderful weekend yo all.
On Memorial Day Weekend. What did our Soldiers fight for?
The ability for TSA to put their hands in your pants and feel your genitals?
Wiretapping without a warrant?
Searching your home without a warrant?
Searching your car without a warrant?
Access to your Bank records without a warrant?
Access to your Cell phone records without a warrant?
Access to your Internet searches without a warrant?
Access to your telephone conversations without a warrant?
Access to your Credit Card purchases without a warrant?
Access to your your Home without a warrant?
It used to be the land of the "FREE" and the Brave.
What did our Soldiers fight for if we no longer have Freedom?
How many have lost their lives for Freedom lost?
Think about this this weekend.
Also think about what companies are behind all the searches, access, video taping, DHS security contractors, etc...
Mostly all from israeli.
Joobies making sure there productive assets STAY productive.
>Think about this this weekend.
Country FIRST! (You betcha)
Sadly it has been all I have been thinking about for 5 years. I'm really getting tired.
Just been the last few months for me and I am exhausted as well :(
Meanwhile, abroad, they "fought" to maintain the exploitation of others... Let's all hail our masters' enforcers!
Keep it simple: Rack up your creditcards and tell the banks to fuck off and see who's got who really by the balls.
Why all the guest posts and dumb S&P 400 articles?! I paid for premium content!
On the plus side, Romney just endorsed ethanol subsidies.
Statist bastard.
Romney speech
Romney:"So I say let them eat corn" (cheers in background, sounds like baaaa,baaaaa)
Aide (leaning in close): Boss, we are out of corn worldwide. It all went into the gas tank."
Romney: "So I say let them eat bread" (more baaaaaing)
Aide (leaning in again): "Boss, we are out of wheat worldwide. That wheat rust jumped from Africa to Europe to here and destroyed all the crops not destroyed by floods and drought"
Romney: "So I say 2 chickens in every pot" (again with the baaas)
Aide: "Boss, Monsanto poisoned all the fowl worldwide with GMOs, so there are no more chickens."
Romney: "So I say, who needs to eat when you have such fine leadership in Washington. Go shopping" (baaaas and farts)
Nice exhibition of creativity, cossack [are you an exhibitionist?]. It's a sad fact there's not a dime's diff between Romney and the rest (incumbents and wannabes, all) except the man's got a certain style. On that note, defer to nmewn's comments about looks
Nah. Just havin' some fun.
Yeah, that RomneyCare set quite the template as well ;-)
I wonder what third strike he'll come up with?
Good hair only gets you so far.
No telling with a NE pol...they're fish bowlish, no concept of the rest of the country.
Yeah, telegenics only gets one so far...my wife has a good saying about that.
Good looks only gets you noticed, then you gotta have the brains to pull it off.
It will have to be a state governor, past or present...just not him. Otherwise we might as well complete our preparations to a non-extradition country and start/take over ;-)
End debt.
End fiat, fake, fraud, fiction, fantasy.
End fractional reserve practices of all kind.
The entire story of the world in 2011:
predators DBA government
predators DBA corporations
predators DBA central banks
Eliminate all predators (all "governments", "corporations" and "central banks" are fictions, and therefore already don't exist).
Predators! This is what the destruction of representative government has given us. "Eliminate all predators!"
...destruction of representative government...
Not to mention absolute, complete, total disregard for the fundamental law (the constitution and amendments), and the predators telling all branches of "law-enforcement" to leave the most gigantic and aggressive predators alone.
Representative government? For whom? It was always for the well-off. Women? Nope. Blacks? Nope. Natives? Ha, ha! funny!
What a fucking hoax, "representative democracy."
Mainstream Americans have only thus far witnessed Middle Eastern countries' protesters/rebels being fired upon by their own countrymen. Our President and MSM tell us it's because those countries' leaders are viscious evil dictators who need to be taken out.
Now, I'm curious how mainstream America will react when protesters from Europe - people we can more easily identify with - start getting hurt/killed.
Or who in Europe and the middle east will support the American Spring?
http://www.youtube.com/watch?v=OEkCQIFKCmM&feature=player_embedded
But my new 42" plasma TV only cost 600 dollars. That's 3 dollars a month in interest payments. I think I can cover it.
Here is something to rejoice about
The U.S. Postal Service Nears Collapse
http://www.businessweek.com/print/magazine/content/11_23/b4231060885070.htm
The U.S. Postal Service Nears Collapse
To paraphrase Dorothy Parker, how will we be able to tell?
Congress gave him until the end of 2011 to report on the USPS's woes. But Herr and his team concluded that the postal service's business model was so badly broken that collapse was imminent.
And yet US Govt keeps funding, no different than FNM, FRE, GM, and on and on. Stop the insanity.,
Get rid of the union, get rid of the Affirmative Action hires! That's the 2 biggest problems!
But without agencies like FNM/FRE, the USPS, and governments everywhere, the artificial black middle class would collapse. That would be a "crisis" and can't be permitted to happen. There is nothing that shouldn't be sacrificed on the altar of diversity
Have you seen this video?
http://www.youtube.com/watch?v=jONhl3GHVEs
Not for the weak!
.
.
.
LIQUIDATE COMMUNICATION, say the Banker-Gangsters!
Debt, the holy communion of statism, is the true opiate of the masses.
I sat at a parking lot and saw the frenzy of shoppers who could not resist sales at KOHL's. WTF, mem Day Sale. WTF is wrong with America , can;'t get enough or just palin stupid? Pile up that closet and garage.
I seem to be breaking everybody's stereotypes ....
I've had a successful career as a computer programmer, after never finishing college.
They didn't teach programming in those days anyway, and besides,
a good programmer needed to be able to rtelearn everything every 8 years or so
to keep ahead of his job.
And
I have a couple of three-piece hand -tailored italian suits in my closet
that happen to fit me to a "T"
but I bought them second-hand at a yardsale for $25 each
from someone who worked for the CEO of douche- bagnk.
They make great halloween costumes. very scary ....
Oh, jeeze... DEBT IS GOOD. No debt = no margin transactions, no fat profits for banks, private equity funds, no fees for securitization and sales thereof, no fees for off book vehicles, no fees or interest from all those consumers whose only hope of affording the cost of living is debt, pity the likes of poor Pimco without debt and of course no debt = no liquidity. No debt = no government spending on defense, tax entitlements, etc.
How do you expect the merchants of debt to gouged the public with no debt? You will ruin the capitalist game will all of this no debt talk. Remember now according to VP Cheney, Reagan proved that deficits don't matter. You can take it to the bank.
Surely, you do not want to stop the great debt machine that spins the US economy. Absent debt there is no economy.
Debt is NOT production nor the act of production -- would a farmer til the land and sell/barter excess if debt was not in the picture? Of course he would. Nature will produce those plants he put into the ground regardless of the presence of debt. The same can be said across all forms of Endeavour. You don't REQUIRE the middle man in there period... Its just that once a society starts down that path the deflationary pressure of the "exponential cost of servicing" debt begins to take currency out of circulation! The commoners are daftly told: "Well you see, in order to have more in circulation you need to have more credit put into the system! See "credit" is good!"
Its only good when the exponential cost of debt servicing begins to literally take out of circlation so much money that the simple "float" of money in circulation begins to get sucked out of the enconomy much like a jet loosing cabin pressure at 35,000 feet. It comes down to a math equation not politics nor "idle oppinion."
The only way to understand this is to unlearn the shit that's been put in your head about the nature of credit as being seen "as" production. It is not. A person working and creating IS production and they don't need a middle man to their own productive capacity, period. From this vantage is EXACTLY why so much progress was made in statecraft regarding the emergence of a system termed a "Republic." It was an ourgrowth of all the crap of the dark ages which then became the Renaissance. When captial formation is stifled by the latter stages of an out of balance debt system feeding on itself, then the only apparent cure is more of the original problem.
www.perfecteconomy.com Study up on this stuff and forget the nonsense...
Capitalism does not require un earned gain to operate. Its quite the opposite actually as the predatory nature of taking the currency "float" out of circulation (due to the exponential nature of debt) drives the class divide even further so eventually you have exactly the enviroment needed for radical elements to steer things toward a communistic system! All of those movements in the past relied on an upper class being hated by the commoners. Do you see this going on now Neo?
Remember: the filthy rich man loves communism, the Productive Individual loves a Republic. Study history and you will see why one always wins and the other always looses. Nature abhors greed and will always act to weaken and tear down that which operates from that intent, be it a person, group or nation... That's not oppinion, that is true history -->
[image attached: HourGlassSandPouring.jpg]
"Remember: the filthy rich man loves communism, the Productive Individual loves a Republic."
I think that you're taking liberties here (casting your personal emotions).
As to what's "productive," that's pretty subjective. Anyway, the real question I have is:
Can capitalism work in a no-growth environment? (and I don't mean temporarily no-growth)
"Bankrupt nations try to prevent the future from happening..."
TPTW = The Powers That Were
Proverbs 22:7 says, “The rich ruleth over the poor, and borrower is servant to the lender.”
Shakespeare: Hamlet, Act 1, Scene 3:
Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.
Qur'an:
Those who charge usury are in the same position as those controlled by the devil's influence. This is because they claim that usury is the same as commerce. However, God permits commerce, and prohibits usury. Thus, whoever heeds this commandment from his Lord, and refrains from usury, he may keep his past earnings, and his judgment rests with God. As for those who persist in usury, they incur Hell, wherein they abide forever (Al-Baqarah 2:275)
Torah:
If thou lend money to any of My people, even to the poor with thee, thou shalt not be to him as a creditor; neither shall ye lay upon him interest. (Exodus, 22:25)
Any idea why banksters are anti-religion, anti-culture?
Got a call from my Uncle yesterday, a useful idiot if ever there was one. He sold life insurance most of his life and is now retired, though he's now outlived most of his residuals. So, the reason for the call, the first time he's called me in three years?
He's concerned about my retirement. I'm 57. He started into a pitch about contributing to Social Security. I told him I don't, haven't in 12 years and don't expect anything from them. If it does pay me, fine, but I'm not counting on it.
Next he went into his spiel about opening up an annuity, with a guaranteed 10% return. I laughed and said I was only interested in physical assets, gold, silver, tools, food. He stammered something about being able to take money out and not touch the principal. I said my silver investment and my business were doing just fine.
We chatted a few minutes. He was mostly condescending and obnoxious, I was being aloof. We ended the conversation amicably, but now I know him as Uncle Sucm-bag.
Fucking parasite. Only calls when he can make a buck off me. Fuck him.
Should have asked him if he'd backstop the 10% guarantee, and, whether this figure is adjusted for inflation.
To me FOFOA is a bunch of psuedo-intellectual bullshit, regardless of the merits of the "free-gold" argument. They are no better than the bankers themselves, thinking they will be a part of the oligarchy when the dust settles. Debt-free money issued by the government or a silver backed currency would destroy the cartel. Enough said. If you want to stash some gold in case the banksters win, fine, but spare us the intellectually dishonest merits of a gold standard, the majority of which is already held (allegedly) by the central banks that deliberately made this mess in the first place.
I also don't give a flying fuck what JP Morgan has to say, one way or the other. They, like their cohorts, are liars. No matter what they spew, it is a lie designed to misdirect their true machinations. That being said, it would be a nice bonus if they are indeed short and their stock goes to zero and Blythe&Co start jumping out of buildings.
Pay as you go is THE ONLY way to go imho. It took me five years to repay my college loans and that is working as much overtime as I could.
DO NOT go into debt for college is my advice.
"Western leaders simply don’t want to accept their loss of primacy; they’ve become enslaved themselves, not only by the insurmountable sovereign debts they’ve accumulated, but by their stubborn refusal to acknowledge the simple reality of a new system they can’t stop and don’t control.", and that is the problem. They see their power winding down and they don't like it. They want to control everything but the reality of the world is showing that they are losing more and more control and power.
The west (America) has pretty much destroyed it's manufacturing base, is no longer producing exports to speak of, no longer creating real wealth, now living on borrowed money mostly, borrowed from other nations for a while till they got tired of it, now borrwed from American's future earnings mostly.
Borrowing from American's future earnings gets ridiculous at some point and people say "enough". That's when borrowing collapses, the currency collapses, the government collapses, everything collapses, and the Fed is tossed into the trash can of history where previous central banks (and their paper currency) were tossed.
How close we are to that "enough" point is anyone's guess.
When we reach that point the currency will collapse and real money will take over again, gold and silver, real money for 5,000 years.
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