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Nomi Prins: The Sinister Evolution Of Our Modern Banking System
By Adam Taggart of PeakProsperity
Nomi Prins: The Sinister Evolution Of Our Modern Banking System
I quit Wall Street and decided that it was time to talk more about what was going on inside it, as it had changed. It had become far more sinister and far more dangerous.
~ Nomi Prins
Today, the 'revolving door' connecting our political and financial systems is evident to anyone with eyes. But this entwined relationship between Washington DC and Wall Street is nothing new, predating even the formation of the Federal Reserve.
To chronicle the evolution to where we find ourselves today, we welcome Nomi Prins, Wall Street veteran turned financial industry reformist, and author of the excellent expose All The Presidents Bankers.
In this well-detailed interview, Nomi goes into depth of the rationale and process behind the creation of the Federal Reserve, and more important, how its mandate -- and the behavior of the banking system overall -- metastasized into the every-banker-for-himself regime of sanctioned theft we now live with.
Chris Martenson: To me, it couldn’t have been more obviously obscene then in 2010, and I believe maybe 2009, right after the big banks had been handed just vast, huge, very favorable handouts and bailouts during the Great Recession -- and then they handed themselves record bonuses. I thought optically that was just horrible. As somebody who was inside the banking system: Are they that tone deaf? What’s behind that sort of behavior?
Nomi Prins: Indeed, they have become very isolated.
It began with the period before the 1970s when different people were rising to leadership in banks, and worsened in the 80s when we started seeing people who had more sociopathic tendencies or less ability to appreciate the idea of the public's economic stability being beneficial to growing their institutions. They no longer viewed it as necessary.
And with the advent of the larger futures market, the options market, the derivatives market, and all the off-shore elements of banking that were able to be developed, so much capital was now available and off of the books that the idea of maintaining some sort of a connection to stability policy -- or even to whatever the Presidency might want -- dissolved. At the same time, all the Presidents that were involved in running the country around that time didn’t ask or require accountability towards financial stability from them.
So there was a bunch of things that were happening at the same time, and that’s why the media does a poor job of critiquing this because they’re not looking at all the strands. None of this is simple. A lot of things happened at the same time to create these kinds of shifts. On the one hand, you have no restraint: you don’t have the Gold Standard anymore, so you have less of a strain on having something physical be reserved against your leverage. You now have this ability of petrodollars being recycled. You have the ability to leverage more debt. You have less humility. You have a more technologically-advanced, less transparent global financial system, so you can make and hide money easier. And then you have ascendancies of leadership in banks and in the government that are OK with all this, and allow it to fester.
It's all defended as some sort of example of a free market and competition -- "the best gets the best", and so forth -- when the reality is it just destabilizes the entire system and creates an artificiality. We see central banks supporting all of this mess, as opposed to figuring out what the exit policy is -- which none of them have a clue about. That’s really where we’ve evolved to.
Click the play button below to listen to Chris' interview with Nomi Prins (52m:45s)
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"Look, a new piece of ass!" Works every time.
Nomi Prins should lecture Mutti on the consequences of her lofty "Nein, nein nein", in the face of Yanis Varoufakis's diatribe about her protection of euro-banktsa crimes.
If Spain mimes Varoufakis rhymes of austerity crimes we will have a hellva time hearing Nomi "I told you so" Twittering the Net to make Mutti feel the heat of her benign neglect.
"Ach so, I vas fooled by those banksters from Deutsch... Nobody told me that financial derivatives fart harder than CB printings."
Oh Mutti, you will regret Stasi times ven life was so simple behind the iron curtain.
Nomi's a babe.
Nomi Prins is my hero. i admire her. young, savy & beautiful, too.
lynnybee...hero?
Chris and Nomi were discussing how well intentioned the bankers were, problem solvers from the very beginning*...wanting to help... WWI, Jeckell Island, The Fed, the Depression, WWII...and only recently have they gone astray (evolved) and for some reason they don't care about people like they used to and they don't understand the problems they've created. Are they fucking kidding? The entire conversation between a naive (stupid) Martenson and a banker insider Prins is like some kind of sick joke for people who believe that nothing was planned...that there was never any intention to control evey human endeavor with the money they print. This is all an unfortunate accident. Funny how the bankers don't see what's happening. Their boots are on your neck, but they never meant any harm.
*John 8:44
@Miss E
I like your style... 'QUESTION EVERYTHING'!!!
I'm with you. I don't believe in "accidental history".
I believe in "directed history", at least for government and financials.
Shortly after returning from the invasion of Panama, we were issued maps and intelligence about Haiti. This was in the summer of 1990. Haiti was invaded on September 19, 1994.
This wasn't another "possible war plan". We were told this was our next most likely deployment, and we trained for it.
Light Infantry, BTW.
Pretty awful but no real surprise. More new maps now also go in various guises and forms to Ag21 planners & tools, as they grab what they can from the "recovery" cough robbery, after natural disasters that are perhaps as natural as GMO. War takes many forms.
Appreciated your comment.
There are no 'heroes' in the financial industry, whether critic or endorser.
Era Of Shattered Illusions until Daniel Pemberton - Malkina Listens
Prins history is lacking. There were several central banks that preceded the Federal Reserve and assassinations of leaders who opposed those banks. The War of 1812 was about Monroe's not reauthorizing the charter of the central bank at the time. Multiple efforts were made on the life of Andrew Jackson who also put an end to the central bank at the time which was a creature of the Rothschilds but which also benefited the English crown.
"The War of 1812 was about Monroe's not reauthorizing the charter of the central bank at the time. Multiple efforts were made on the life of Andrew Jackson"
FUCKING BINGO!!!
If you'll permit me to add to that... Might as well toss in:
- John Wilkes Booth [benefactors]
- Coinage Act
- Panic of '07
into the summary as well...
Almost makes one think that business schools might not include "The Creature from Jekyll Island" in their Economics 101 classes, or any of their classes. :^)
she doesn't strike me as particularly hep to the scam. the us presidency is just a criminal prosecution protection racket for the bankers. the big sleazy corrupt money comes from and goes to the congress.
Here's all you need to know:
When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.
Frederic Bastiat
funny like the fed seems against all odds jews are at the center of corruption: from nypost:
"The country’s most important civil court is under federal investigation, an insider says.
The probe is focusing on the state Supreme Court’s civil division at 60 Centre St. in lower Manhattan, where many tentacles reach to disgraced Assembly Speaker Sheldon Silver, the court source said.
Silver was arrested last month on corruption charges, and Manhattan US Attorney Preet Bharara warned the public to “stay tuned” for more developments.
The case against Silver centers on his freelance legal “work” and the millions of dollars in bribes and kickbacks he hauled in from real-estate and asbestos claims, the feds say.
Many of these cases landed in the courtrooms at 60 Centre St., presided over by judges with ties to Silver and his lifelong pal, Jonathan Lippman, the chief judge of the state Court of Appeals.
Both men grew up on the Lower East Side, and Silver has been Lippman’s political godfather, pushing him to reach New York’s top judicial post.
“The appointment of Sheldon Silver’s childhood friend, Jonathan Lippman, as the state’s chief judge based on his administrative experience made about as much sense as the Yankees making their accountant the manager of the team,” said Charles Compton, former president of the Supreme Court Officers Association. He added that Lippman was appointed “to protect and promote Silver’s interests.”
At least three judges at 60 Centre St. are connected to Silver from the Lower East Side.
Modal TriggerJudge Martin Shulman
Judge Martin Shulman is a former president of Silver’s synagogue, and the two are neighbors in a Grand Street co-op complex. In 1999, the judge was appointed an acting Supreme Court justice by Lippman, then the state’s chief administrative judge.
Judge Jonathan LippmanPhoto: AP
Silver stands accused of raking in $700,000 in secret kickbacks from Goldberg & Iryami. Firm principal Jay Arthur Goldberg had worked for Silver in the Assembly as his counsel.
The indictment accuses Silver of steering billionaire developer Leonard Litwin, the state’s largest political donor, to the firm, along with another unnamed developer. In exchange, Silver reaped referral fees.
Modal TriggerJay Arthur GoldbergPhoto: Gregory
Silver’s influence was also apparent in another part of the iconic civil courthouse on Foley Square, where the grand entrance has been used as a backdrop for movies including “The Godfather” and “12 Angry Men” and countless episodes of “Law & Order.”
Weitz & Luxenberg, the law firm where Silver was “of counsel” until he was dumped last week, practically rules a special section of the court dealing with complex asbestos litigation.
Critics say the firm gets the “red-carpet treatment” including a fast track, “better judges” and first dibs on jurors to hear its cases.
Sherry Klein Heitler, the chief asbestos judge, as well as the top administrative judge at 60 Centre St., has handled dozens of the firm’s cases in what is called New York City Asbestos Litigation or NYCAL.
Last year, at Weitz & Luxenberg’s request, Heitler reversed a 20-year rule barring punitive damages in asbestos cases, paving the way for much bigger jury awards.
Another judge, Joan Madden, consolidated unrelated asbestos cases, which resulted in huge increases in jury verdicts — from an average of $7 million to $24 million per plaintiff between 2010 and 2014, data collected by Bates White Economic Consulting show. In one consolidated case, Silver’s firm won a $190 million award.
Of 15 mesothelioma verdicts in the last four years, Silver’s firm won $273.5 million of $313.5 million awarded by NYCAL juries.
The average award for an NYCAL asbestos case — nearly $16 million per plaintiff between 2010 and 2014 — is reportedly two to three times larger than those in other courts nationwide.
The American Tort Reform Association last year called the asbestos court the nation’s top “judicial hellhole” where plaintiffs’ lawyers are “brazenly favored by the judges.” Silver has been blocking tort-reform bills for decades in Albany.
It’s unclear whether any individual judge is being targeted by the investigation. The US Attorney’s Office said it could neither confirm nor deny any probe. An FBI spokesman would not comment.
“We are not aware of any federal investigation,” Bookstaver said."
maybe you remember a few years ago a couple of guys inside one of the worlds largest banks figured out a way to pocket the partial penny that comes up in transactions, and divert it to an account for themselves. the books still balanced, but..... that story in todays context is childs play, an innocent prank by modern standards. modern economies are plunder, sure, by plunder on the narrowest of margins. like the daytrading technique, grab a couple pennies and get out of the trade, was a method for ordinary people to do what computers do a lot better, and without the need for sleep, and without having a nervous breakdown. when someone steals a lot of money their methods are stealing a very small amount but doing it at the speed of light. so maybe plunder isnt the right word anymore.
Lovely. So our Nomi blew her way into a cushy job doing data mining on Wall Street, made enough to retire on and now eases her guilty conscience by spending her days at a bankster-funded "left-wing" think-tank flogging ways to paper over the problems caused by debt with more government debt.
Nomi, honey, banking is a racket. It always has been, no psychobabble about sociopaths taking over in the Eighties necessary. If you feel that bad about banks robbing people blind, take the money you earned on Wall Street and give it to some of the people who lost their jobs and houses in the crisis, and get your pretty self to a convent. Will you do that?
Thought not.
She probably waited for her personal wealth to hit $5M before she started feeling sorry for those poor 99%'ers.
Gotta get on the right side of history, just as soon as I close on my flat near Central Park.
im hip, somebody said to me once, why dont you buy stock in the big financials, i said, because i dont know how they make their money, and after 2008 i called that person back and said, you see, it turns out i was right. the CEO probably doesnt know either. a friend called me a few years back said, i plan to start a business. i said you dont know anything about that. he said, so what i'll hire someone who does. as the schizophrenic said, the problem is bigger than both of us. as a problem of logistics, problem one) the people in the fed know less than the bankers, they are stuck in their ivory tower cabinet positions, under secretary to the treasury. problem two) the real bankers resent them, they see the fed as a bunch of pompous politicians. (its like the old SinoSoviet war, theyre all communists what are they fighting about? these bankers dont like these other bankers, okay?) if youre captain of americas largest industy you dont want uncle sam kibbitizing. you say what about TARP?, well the government bailed out general motors too. and there were some real heavy handed decisions made Merrill and BOA, AIG, and sure Goldman came out smelling like a rose, but that doesnt mean there isnt resentment, and now an awful lot of power. the monetary base expanded dramatically last month, but not the money supply. remember the fed isnt the only institution which creates money (or monetizes debt), money created through shadow banking has the same effect, only problem three) the fed has no real control of that, other than to jam on the brakes with an interest rate hike. once again the fed ends up looking like they are anti free market.that doesnt play too well in the papers. story of the year) there is no leadership on the fed, which could spell inertia, yellen is just one of the boys. and the president might get into a war of words with the fed, but he is playing whackamole, and if the fed is gridlocked he wont get his new biggest ever usg budget. whoops.
Nomi...babygirl... PM me ;)
The USG is das uber Ponzi
She's a Jewish American Princess who makes reservations for dinner.
She has good looks, so her Jewish background is discounted 100 percent. A woman who is Jewish and is good looking gets a free pass.
You have to make some allowances and me being a gentile, a goy, certainly would want her to be naked right next to me, regardless of her religious beliefs.
You'll listen to whatever she has to say. Every word of it.
She spoke a lot of truth . Should those truths be discounted and discredited because she's a Jewish woman?
This is how the elite feel about our opinions, why continue thus?
There can be only one exit policy. Reprice financial v assets in real (gold terms). It will happen through collapse if not affirmative intervention. It's time to exterminate the parasites.
Nope jailing them is first order of setting things to right. They have the gold now so a gold standard keeps them in power.
There's a reason they were scared in Davos. The house of cards is falling and they feel it. The burden of the financial sector and government upon productivity and the middle class is unsubstainable without parlor tricks from the Fed. It will be fascism and war next.
Very good presentation. So, Chris has banker blood in him...hmmmm.
Best way to reduce "debt?"
Guillotine a bankster.
The banksters need to repay us.
She used a lot of words, lots of panick and no periods to say the same thing over and over.
She should do a video in a slingshot bikini instead of a podcast. At least it'll hold our attention.
No mention of perp walks. Yep she is an insider or wants to be one. Thats my litmis test. Either toss them in jail as is right or its Bullshit. Exit policy my ass.
Same goes for them boys in Greece. Arrest them all or its BS. Its one thing to sell out. Its another to sell out your people.
The problem is thieves,whores and pimps are running this shitshow. Any other choice is an endorsment of the banking system.
Let me spell it out for the slow.
They are all crooks and should be in jail.
Jail? US Recidivism rate is 76.6%.
Not if they leave feet first.
Which would be the preferential way for them to leave.
The bankers are essentially parasites feeding off a host -- the public. Now, however, the host is dying because the parasites have deprived it of nutrients -- capital.
So, what can be done? Abolish the banks. Declare them to be criminial enterprises and forbid them from operating. There simply isn't any other solution.
Banks cannot be reformed. Laws designed to do so have been stripped bare and rendered null and void. Why? The banks make the laws by controlling Congress.
Saying that banks can be reformed is like saying that Al Capone could have been convinced to stop committing crimes.
"We started seeing people who had more sociopathic tendencies or less ability to appreciate the idea of the public's economic stability being beneficial to growing their institutions. They no longer viewed it as necessary."
I think in short hand, this sums up what has happened to perfection. Organizations are made up of people, sure there is a corporate culture they follow, like the military culture they drum into you in recruit training or at military academies, but that culture is a human construct. The men in the boardrooms make decissions that drive the whole culture, and YES, they became Sociopathic.
The new men coming in were the baby boomers, they would begin to reach management levels in the 80's and grow into the real corporate mangers by the 90's and reaching mature all powerful banking posts in the 00's. I don't play generational warfare games, as I know the elites use it to divide the society, but I am only stating fact about a generational changeover, from depression era and world war two era folks with a soical concious and understanding that we all are in this economy. The new kids were nearly all draft dodgers, very few took 2-4 years out of Yale to go to Nam. These selfish and greedy punks were handed the keys to the kingdom by their elders, without work they were handed all the wealth of a post war America where it's economy stood alone. The new generation was free from stuggle, competition and self absorbed as hell. It was this post war baby boomer generation that has taken over government and banking, married the two into an evil empire of theft and greed.
Sadly, the newer generations after babyboomer, the boomers kids, are now in the boardrooms, and their upbringing in self absorbed greed and zero competition, has left them crippled greed mongers. They walked into Harvard and Yale on their Daddy's coat tails and entered the banks on Daddy's coat tails. Never had to prove themselves in the military, never worked their way through college, like guys in the 30's had to.
We have allowed two self absorbed and narcissistic generation's 1%'ers to set up a game of fraud run by government and banking. How else do you explain a WallStreet manipulation that only works to the UP side? Wealth is pouring into the 1%'s hand via Fed policies. The Banks own the Fed, and as one congressman said about his institution "The Banks Own Congress".
The evil is too deep, elections are a sham. Does anyone believe that voting Republican instead of Democrat will work? Does anyone think Deomcrates taking back congress will help. Who believe a Jeb Bush will turn America around fro the 99%. Who believes MS Clinton is anything other than an Israeli and Zionest agent of Goldman Sachs? There it is folks. The game is rigged, and You and I are not players at the table, we are the marks, the suckers and the losers.
For now.
actually it was the end of the ww2 generation that created the groundwork for what the baby boomers turned into animal house. the sociopathic culture came from the "can do" generation as evidenced by the collapse of continental illinois in the early 80s. chainsaw dunlap started the no corporate social responsibility management style of profits only by any means possible in the wake of reagan union busting marking the assault on labor that continues today. there are a lot of examples of the greatest generation sociopathy being the kernels that grew the cornfield. the boomers codified the moral and ethical dilemma by making all the aberrant behavior legal, therefore justified.
True besnook, there is a new meme being postulated attempting to blame the baby boomers for the financial woes of the US, it is actually, as you suggest, some of the children of the baby boomers. There are still many who are good solid citizens but it seems any sort of morality is being eroded with each new generation producing more leftists crying 'MOAR!'
I went through the late sixties at draft age. My recollection is that the hippies mocked anything traditional. They mocked simple folk who were hard working but not eloquent. I remember the hippies as losers who couldn't compete with the jocks so they mocked them as unintellectual. It was a frustrating time for simple folks, or those who had no greater aspirations than working hard and raising a family. When the frustration from being mocked became too great and people beat the shit out of someone they were mocked further for having more brawn than brain. Hippies tore the country apart.
The biggest thing I remember is how much the draft affected your life. My lottery number was in the teens. I had exemptions because of my work, but they ran out and I got drafted in the early 70's. When I went for the physical I remember the conversation with the other guys on the train into the city. We knew there were ways out of the draft, namely Canada, but the bottom line was if you did that some other poor bastard was going to get called up. There was still that sense in a lot of us back then of a greater concern for the populace as a whole.
The hippies didn't have that sense from what I remember. I agree with what this lady says, and with Jack, too. I don't think that the idea there may be a commonality of the problems of mankind and that personal decisions should have a facet that alludes to a common good existed/exists with the hippies.
As a disclaimer, I was and am an oddball, and I wasn't really in any group at that time. I hated the fucking hippies, though.
Yes sir, the last election proved that. Each promise renigged on one by one.
very clever but it is RENEGED
Jack Burton:
The quote you picked out leads to the reasonable CONCLUSION stated around the 48 minute mark of that audio, namely, that there is NO practical political way to break the "alliances" in government of the money, for the money, by the money!
Nomi Prins says that "we" is sort of metaphorical. Too many of "We the People" have become Zombie Sheeple to be able to imagine them "breaking the alliances" whereby the banksters are the best organized gangs of criminals who have controlled governments, so that those "alliances" have become the biggest form of organized crime.
My main points are always that "we" should develop political science to become more consistent with physics and biology. However, that takes profound paradigm shifts, which which must embrace the reasons how and why governments are the biggest form of organized crime, controlled by the best organized gangs of criminals.
Yesterday, I REPEATED those points here:
http://www.zerohedge.com/news/2015-01-31/socialist-exceptionalism#commen...
Human beings and human civilizations operate as entropic pumps of energy flows, which are deliberately misunderstood by the biggest bullies' bullshit in the most backward ways possible.
IT IS NO MORE POSSIBLE TO STOP HUMAN CIVILIZATIONS FROM OPERATING ACCORDING TO THE PRINCIPLES AND METHODS OF ORGANIZED CRIME THAN TO STOP HUMAN BEINGS FROM BEING ENTROPIC PUMPS OF ENERGY FLOWS.
There is nothing wrong with the basic theory of a democratic republic operating through the rule of law. However, most of "We the People" have become Zombie Sheeple, mainstream morons, or masses of muppets, within which groups it is way too easy for the banksters' political puppets to fool enough of them, enough of the time ... Therefore, the ONLY sensible conclusion to the presentation by Nomi Prins, listening to from about the 47 minute mark to the 48:12 mark:
"... the system will continue to implode at more chaotic, deeper levels, onto the rest of the global population, increasingly so going forward ..."
Exactly what happens when a selfish People remove themselves from a government of the People, by the People and for the People.
Yes, rejected, the psychopathic sociopaths are feeding a monster that will destroy them too, as the reply by to Jack Burton made by VWAndy seemed to imply.
Another reply above stated:
"Mako explained it this way...
- System starts
- System expands at the rate needed
- System peaks
- System unable to expand at rate needed
- System collapses
- System liquidates
- Rinse and repeat if chosen."
The ONLY difference is that progress in science and technology is driving that to become orders of magnitude BIGGER spirals, rather different than the older historical cycles!
My main THEORETICAL points are always that "we" should develop political science to become more consistent with physics and biology. However, that takes practically impossible, profound paradigm shifts, which which must embrace the reasons how and why governments are the biggest form of organized crime, controlled by the best organized gangs of criminals.
Human beings and human civilizations operate as entropic pumps of energy flows, (which are deliberately misunderstood by the biggest bullies' bullshit in the most backward ways possible.)
IT IS NO MORE POSSIBLE TO STOP HUMAN CIVILIZATIONS FROM OPERATING ACCORDING TO THE PRINCIPLES AND METHODS OF ORGANIZED CRIME THAN TO STOP HUMAN BEINGS FROM BEING ENTROPIC PUMPS OF ENERGY FLOWS.
The ONLY way to have realistic resolutions of the problems is for those to remain consistent with the originally correct deeper analysis, namely, governments are the biggest form of organized crime, controlled by the best organized gangs of criminals, because THEY MUST NECESSARILY BE! As long as most Americans, as well as most of the rest of the world's population, continue to rely upon DUALITIES, rather than starts to make use of more UNITARY MECHANISMS, then we will continue to have social situations that are controlled by bullshit, which automatically get worse, faster, because false fundamental dichotomies result in impossible ideals, which actually make the opposite happen in the real world.
Human realities are always organized lies operating robberies. Nothing else exists than the dynamic equilibria of different systems of organized lies and robberies. All private property is based on backing up claims with coercions. Money is measurement backed by murder, because debt controls are backed by the death controls. THOSE ARE ALL UNIVERSAL SCIENTIFIC TRUTHS ABOUT HUMAN BEINGS AND HUMAN CIVILIZATIONS: politics can never be anything more than modifications in the dynamic equilibria of different systems of organized lies and robberies.
To the degree that too few people understand that, then the best professional liars and immaculate hypocrites become too successful at fooling enough of the people enough of the time. That is the basic problem in America, and the rest of the world, today! The biggest bullies' bullshit world view dominates civilization, through the dominant natural languages, and the dominate philosophy of science. That is how and why we have ended up with REAL POLITICS BEING ORGANIZED CRIME AND CONTROLLED OPPOSITION ...
There can be NO reasonable doubt that "the system will continue to implode at more chaotic, deeper levels, onto the rest of the global population, increasingly so going forward."
Thus, the results must be that more people will be forced to embrace the principles and methods of organized crime (whether they like it or not) by those kinds of deteriorating conditions.
I am endeavouring to provide a theoretical framework to understand that better, which goes beyond those who continue to rely upon some political miracles, and/or pretend to be preparing for how extremely bad that could become, who continue to rely upon the false fundamental dichotomy between "organized crime versus government," and therefore, still promote bogus "solutions" based on realizing impossible ideals, or promote being "prepared" for the runaway realities of organized crime to continue to become even more blatant and overwhelming than they already are ...
THE ONLY REALISTICALLY BETTER RESOLUTIONS OF THOSE PROBLEMS WOULD REQUIRE BETTER ORGANIZED CRIME TO CONTROL A BETTER GOVERNMENT.
Until enough people understand and agree with that, then we will continue to be stuck in the same ruts we are stuck in now, as those get deeper and deeper ... At the present time, the most probable futures are we will wear the bottoms out of those ruts, and then collapse into chaos, due to the psychotic breakdown of the established systems of enforced frauds.
In that context, I have laid out in this reply what I consider to be the kinds of radical truths which would be "needed" to cope with the kinds of problems that social pyramid systems all over the world have developed, by being based on backing up lies with violence. Namely, not only IS the world controlled by backing up lies with violence, but also, the only realistic solutions to those problems are to back up better organized lies with better organized violence.
To whatever degree technological civilization is able to survive its contradictions of having developed globalized electronic monkey money frauds, backed by the threat of force by apes with atomic bombs, then the pattern of history may repeat, that the collapse into chaos will enable some new system to eventually emerge ???
In my view, whether any such new systems, which MIGHT survive through the psychotic collapses into chaos of the old systems, could be "better" shall depend upon whether enough people understand the methods and principles of organized crime better, in order to develop some better government in the future ...
Of course, at present, there is no reasonable hope for that on the horizon of history that we can currently see around us. However, since there is NO doubt that "the system will continue to implode at more chaotic, deeper levels, onto the rest of the global population, increasingly so going forward," MORE PEOPLE ARE GOING TO BE FORCED TO CHANGE, AND THEREFORE, TO THINK ABOUT THAT THAN EVER BEFORE ... In that context, more radical truths about politics MIGHT emerge through those trials and tribulations ???
A better government of the people, by the people, for the people, must develop a better understanding that money is necessarily measurement backed by murder. There are no realistic ways to improve the runaway problems caused by the banksters than to do what they did better than they do that, which would require enough people understanding that better, to make it possible for there to be developed a better government of the people, by the people, for the people.
However, at the present time, we have runaway systems of legalized lies, backed by legalized violence, operating through the established systems of governments of the money, by the money, for the money, spinning out of control, because that is based too much on psychotic bullshit about itself, since its foundation is enforcing frauds.
The only way for there to actually be a better government of the people, by the people, for the people is IF they operate better death controls to back up better debt controls. At present, that appears to be practically impossible, because to many of "We the People" have become Zombie Sheeple. However, as conditions automatically become worse, faster, for more and more of those people, eventually, they will be forced to change, and PERHAPS they will them become more open to consider more radical truths about the basic nature of government itself ???
I am usually defensive when it comes to putting all the blame on boomers BUT the way you put it makes sense. Maybe the problem comes from too easy of a life,,, as boomers were the first not to have to worry about our next meal. For the most part we were coddled and given about everything we wanted. This has continued, even more so, in the following generations. Now we have gov telling parents they are responsible for their kiddies until 26 years old. Some kiddies have sued and won court cases where parents wanted their children to pay a certain portion of their college fees. These days when parents try to raise and teach their children, government goons raid them. The whole "it's for the children" thing has been taken too far as government is now the fearful nanny.
Anyhow, nice write up.
If you won't play generational warfare I will: baby boomers, you are the entitled turds who have morally corrupted western society with your duplicity & greed as well as bankrupted the next generations so you can remain in mcmansions with tvs so big your neck gets tired watching tennis.
Complaisance of the state, obedient consumerism and the fascist war mongering ideology aside, undoubtedly the worst offence committed by the old fucks is the offence to the nose. Old people stink, physically. Their breath smells like used nappies, they fart often and without shame and most smell like metamucil even when they aren't launching a pong rocket from one of their decaying cavities.
Jack Burton;
Not sure you will see this. I just wanted to write some thoughts down.
Seems to me that just as Executives have an interest in Status Quo, all 2 million federal Employees also have an interest in keeping & Supporting the system for their own jobs. Of course we have to have regulations and government oversight on critical core functions & utilities, but instead of Byzantine Bureaucracies... they only need be simple mechanisms perhaps without even having employees in today's computer age. Standardization of Banking, Accounting, Credit, Credit Agencies, Financial Ratings Agencies... amount of money creation annually in ratio to assets held, Federal Budget Increases near 3% or maybe 6% in health insurance as special exception... of course we have to reduce regulations and tax rules... and the goal should be to eliminate the number of number crunchers who add no value to our Economy like tax accountants, tax strategist, financial analyst, financial lawyers, tax lawyers, lobbyist, etc.
The problem I see in addition to your good points is that We have a Secret Military Republic. We white wash and propagandize about not being set up like an empire. We claim to have free markets & a democracy which is false.
- Freedom, Liberty, Equality, and Justice for All.
- With Liberty and Justice For All
- Liberty, Fraternity, Equality
- All Men are Created Equal
- the separate and equal station to which the laws of nature and of nature's God entitle them
- unalienable rights: life, liberty, and the pursuit of happiness
- governments are instituted among men, deriving their just powers from the consent of the governed
- whenever any form of government becomes destructive to these these ends, it is the right of the people to alter or to abolish it
- in such form, as to them shall seem most likely to effect their safety and happiness
- that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed
I think Radical Marijuana would agree to the problem of human emotions & motives below.
The Kings of the USA, the FED, and Wall Street and our legion of Lawyers & Lobbyist have a history of repeated injury to Main Street & other Countries, Democracies and Sovereigns... and to our US Constitution.
The problem is the Human Leaders believe in big Intrusive Power and a Military Republic that protects big business schemes (War is a Racket). These facts are in conflict with Freedom, Liberty, Fraternity, Equality, and Justice for All.
In fact as we all know the "State of Justice" clearly has fallen, various dates can be argued. But I ask when did we become a Military Republic??
Should we nationalize certain country functions and replace them with limited, narrow, simple mechanisms so that we don't have to rely on bureaucracies or central authorities?? Should we limit the growth of Lawyers, Lobbyists, and Corporations??
- Can money, credit & debt be seen as Utilities
- Can Public Banking replace Private Banking
- Can we review what is considered core government & military functions not to be privatized and contracted out
- Can we limit government secrets & the corporations & foundations that contract & hold national security secrets
- How do we get support for Reforming Central Banking, Stewardship of the Petro Dollar, and Educate Main Street about this
And how do we legislate simple mechanisms for low or zero growth(employment) in .gov or private contractors to manage it (So we don't create an Interest Group that will fight whistleblowers, fight for employment growth, and fight any attempt to cut it's employees and it's growing budget)
Best example of why we still need government mechanisms is preventing fraud in the various financial instruments & asset classes. We probably have more than 6 Agencies doing this now, growing every year it seems.
fiat money systems always end in a wheel barrow of cash for a loaf of bread that can't be found.
Good one - the " loaf of bread that can't be found " - soon enough , methinks life will demand that one has a brain capable of critical thought as well as a pair of hands willing to make or mold or improve something , anything. It's a slow slog , but we are at the doorstep of an age where technology is useful to those who can buy it , and harmful to those who cannot - a la HFT. Technology is unable to improve the human hand thus far. I suspect that the A rtificial I ntelligence crowd is waiting to unleash a clusterf&*k of a solution to everything. People who cannot or will not perform humble labor for the benefit of all , including themselves , will be scorned and then banished from their respective geographic locations. When they are on their own - FEAR might overwhelm them and abandon them to nature's whim.
magnifique!
I listened to the entire interview, and was frankly shocked at what she had to say. For example, at one point she actually said that since the 1970's, a number of bankers have risen to power who have sociopathic tendencies. Who could have guessed such a thing.
In 1971, after taking the United States off the gold standard, Richard Nixon was quoted as saying "We are all Keynesians now".
In 1999, after repealing Glass Steagal at the behest of the banks, Bill Clinton was quoted as saying "We are all Jews now".
Since the Patriot Act, those few thinking Americans* left all said to themselves, "We're all terrorists now".
* thinking Americans - an oxymoron right up there with "military intelligence" and use of the word "honorable" before any political office.
Does she give head?
I was thinking more along the lines of a specific species in ornithology...
This discussion is irrelevant until some of you propose a detailed plan to create wealth instead of saying "cut taxes, punish bankers, wealth appears." I don't get the sense that anyone in this discussion really has a clue about returning to 1945-1973 growth. That's okay, though, because we may be in a predicament where no solutions are possible except severe austerity.
Removing parasites from your body doesn't have an immediate beneficial effect, however, in time you should have your strength back. The alternative of course is to allow the parasites to continue sucking your blood, eventually we will all be serfs and plebs except for the Masters of the Universe.
Like Jimmy Cliff in "The Harder they Come" I'd rather be a free man in my grave, then living as a puppet or a slave.
1945-1973 growth? Now thats funny!
What actions against our government are allowed under the Constitution and its ammendments? Or do we bypass them and go directly against the masters? Meanwhile they should know we still piss in their soup. Juvenile but satisfying.
Treason is punishable by death. I am certain we can find at least two witnesses.
Wankin' fuckin' bankers.
prins, a least trusted expositionist.
a front running apologist? an intellectual
exhibitionist? she reminds me of someone
i knew, and am happy not to know anymore;
a desperate over achieving failure, like
myself, and the money system we bed with.
.
we come oh so close to telling the truth
and then fail to deliver, but we know
and try, try again.
.
so let me say this, it is all a rotten
and corrupt scam to steal from the many
and give to the few. it is a main plot
she beds with for nice sheets and covers
for the cold evenings in foreign lands.
a calling
.
that reminds me of the difference between
the peoples of the equatorial and seasoned
peoples of the north and south. these peoples
are entirely different in every significant
way due to energy differences. it explains
everything.
.
maybe, maybe not?
still, i enjoy her rants-some.
The Lawyers protect the Bankers...The Bankers fund the Lawyers... The Lawyers are the Politicians....50-55% of The House and Senate are Lawyers not including the President/Vice who both are/were Lawyers...Now do you get it? The only unregulated profession is the legal profession.....License to steal.....Think about it....
Nomi Prins
Janet Yellon
wow , interesting
WOW....just woke up from a dream where i had somehow earned and was given a full bar of gold!
Our mother died when i was 5-my dad had already left, so we spent a lot of time living with my Dads parents.
They were common sense Republicans. They taught us far more about the world life and how to do without-even though they were middle class-brown collar? home builders-not carpenters;
They lived through the depression-they saw a lot back then; I always hated my grandmothers hamburgers and meatloaf-she would put bread and onions in them-an old trick to make meat stretch farther-
she always baked cakes and cookies and all our bread herself-no cake mixes in her cupboard...
One story that impressed me is when driving through Oregon, My Grandfather pulled up to a store as they needed food. With little in the wallet-my grandfather
walked up the steps of the store and noticed that the screen door was almost off its hinges. Bingo! he walked in and proposed "Ill fix your door for you for some groceries" the owner agreed.
A wise man, he saw the country falling apart and all the bullshit around us. He had a lot of stories from the old days-He would have hated all the Bushes and was not fond of Nixon;
Didnt think much of TV, but had one-he called it "the idiot box"
He also was a dead serious joker. always solemn, but would always have a joke handy. Q:"Why did the Republican always go to the weekly Democratic meetings? A: to keep his disgust fresh"
i miss him.
Our Lives Have Always Been Manipulated By Money - part 1
26 January, 2015
Read more: http://www.messagetoeagle.com/monpowerpart1..php#ixzz3QWtKZ9ljThere isn't any doubt that the IMF imposed austerity programs have been a leading cause of the deterioration of the Greek's standard of living and the subsequent violent social unrest. Unfortunately the new government is most shortsightedly confusing the symptoms with the disease.
Rather than face the harsh realities of bankruptcy, enduring the pain of restructuring, exiting the EURO and moving forward, both sides have engaged in playing blame games, avoiding responsibility and postponing the inevitable.
The truth is there is more than enough blame to go around. Previous Greek leftwing governments saw joining the EURO zone as the ticket to every good socialist's dream; the ever expanding welfare state and the government dependent population. Their fellow traveling leftist bureaucrats in Brussels willfully ignored the utter unsuitability of the Greek economy to join the common currency union, more concerned as they were with their fetid dreams of a united Europe and their own centralized control.
Like all socialist of every strip they live in a world constructed of an unrealistic and unattainable dream. Namely that economies and economics can be infinitely forced to conform to their political will. Unfortunately ignoring history and its lessons doesn't change them.
So now the socialist bureaucrats in Brussels have an internal rebellion on their hands. A rebellion born of former Greek governments borrowing and spending their way to reelection after reelection and lining their own pockets in the process all with the complicity of Brussels. But now the unattainable dream is unravelling faster than a ball of yarn set upon by a litter of kittens.
The socialists in Athens think that they can selectivly abrogate all or part of Greece's debt without consequences for the entire financial house of cards. The failure of the Credit Default Swaps on Greek debt alone could push the likes of Bank of America and J. P. Morgan/Chase into a naked and undeniable insolvency that will make 2008 look like a joke. But the bureaucrats in Brussels continuing on with their unatainable dream by threatening Athens that if they don't come to a new agreement with the Troika the ECB will cut off the Greek banks from any further funding. Threatening the bankrupt with bankruptcy is either the pinicle of absurdity or hubris.
Sadly the new government in Greece is only partially right. There is no solution for Greece within the context of the ECB or the European Union. Neiter is there a solution in returning to the Drachama and hyperinflation in order to continue the welfare state just so a new batch politicians can buy their reelections and line their pockets.
The reality no one wants to deal with is that there is no viable solution for any of us within the context of private central banks and trying to solve the problems of too much debt by going further into debt.
Only the repudiation of national debts, ALL national debts and the return to asset based currencies will set the world on a path to a production and employment driven recovery.
Alexander Hamilton's reports on banking and manufacturing were right two hundred twenty five years ago. They still hold powerful lessons for today.
Iteresting that the title used the word evolution. As if banking/money systems became this.
Does it not seem it was like this for a very long time?
Credit banking, by its very nature, wants to centralize into pyramid control. Pyramid control, once established, can easily take rents on the population.
Example: France circa 1800’s had independent banks. Said bank issues credit money, and this credit power declines with geographic distance. The same thing happened with private banks in the U.S. of same era.
Why? Credit pops into being from nothing as per double entry ledger mechanics, otherwise known as hypothecation. This credit as money must return to ledger to cancel its mirror, i.e. debt instrument.
The further in distance credit is removed from its point of origin, the harder it is for said credit to return to its debt instrument. Some private banks would shun other private banks as it was too much hassle to return another corporations credit.
In France, the public called this private banker credit, “rag money.” French bankers would always take gold because gold would pay for credit, but not vice versa. (Shhhh….that is a big secret of credit issuance and bankers; they want control of what equilibrates across the equal sign.) French private bankers would also let their paper become worn and turn to “rags” thus it would crumble and disappear from supply, yet ledger debts would not wear away, and hence stay on the books – to banker’s benefit. Gold would solve geographic problem because of its high acceptance. (Gold has many other problems, but here is used as an example to show difference between wealth money and private credit.)
Bank credit needing to return home to its debt instrument is central to pyramid control functions we see today. Private banking corporations will ALWAYS want to link up so their credits can cancel.
Private bankers maneuvered government to have all banks linked up via reserve channels. The Federal Reserve act is an example of banker linkage in action.
Today, if one takes out a dollar loan in Midland Texas, and spends those credit dollars in Peoria Illinois, a dollar equivalent may swim home to Midland via reserve channels, and thus cancel Midland debt instrument.
Rag money geographic problem was solved with reserve loops. Disequilibrium in banks could now be solved at overnight credit markets, where only bankers could visit.
------------------
The better solution is to issue sovereign money into channels of production or public commons; and by constitutional law private banks will be forbidden from creating new private credit. In Social Credit theory, sovereign money must originate in households.
Money supply then morphs from being private credit, which attaches our future, to being wealth money which relates to the past. This wealth money will circulate at low cost, forever if not taxed away.
Some sovereign credit should be in the system as a drain knob to control inflation and front load supply chains. Think of it as a pile of numbers able to loan out as needed to manage the economy. The pile will be limited in times of inflation and made available in times of need. Most people will have personal savings they can loan out. Similar to ancient Venice, loan contracts should be guided by law, thus preventing usury. In times of need Creditor (saver) may forgive payments if necessary or will share in risk for more gain.
There are no reserve loops in a sovereign currency system, as money is not private credit.
Most people are like fish in water, they never stop to examine the water. Naomi seems to be one of those fishes. She cannot see outside of private credit system, because she is buried in it.
Sovereign money? Something so simple and most people are too dim to understand it.
I just think that people are either too naively or too stupidly in love with crooks.
Anyway, can’t have an Empire without usury. And plenty of resources to be stolen, worldwide.
I look at Brazil, as well as Venezuela, and wonder if they had Sovereign money. And, have they put their focuses more on the crux of their demise (money-power) instead of stupid soccer games.
MEFOBILLS, would you care to comment?
Union strikes at 9 US refineries in bid for new contract. http://www.cnbc.com/id/102386758
Sinister is precisely the word Ms. Prins.
A good way to do a shorthand "sample" accounting of the revolving door of corruption and collusion is to simply track the players and history of the Washington D.C. law firm Travels with Sullivan and Cromwell; from the frauds of the Panama Canal at the turn of the 19th century, through Jekyll Island to today. Impugnity is a word these legal eagles know intimately.
Stupid goyim. Continue ignoring the elephant in the room. The street is kosher top to bottom with shabez goy fronts to hide behind. We have you like dogs chasing tails. Oy Vey!!!
So, Nomi Prins is telling us that - supported by criminal politicos - Wall Street was taken over by gamblers and fraudsters, a financial Mafia. All overseen by the Fed and compliant regulators.
It's time for a clear out and a few people made examples of.
At about 15 minutes in to Naomi's interview, they talk about panics. Economic panics frighten bankers because they can get wiped out.
In actuality, it is only the smaller banks that get wiped out. Overall, the system is rigged to where it takes more than it gives. Smaller banks may be coereced by bigger banks to pay off principle on their bad debts. This then absorbs small bank profits, and then bigger banks buy the smaller ones at a discount.
Bigger banks then get assets of smaller ones, and these assets may be real transferred property.
If one examines the nature of credit as money, it is a confidence game that credit is in supply in future in order to pay past debts. In other words, credit drains into the ledger and disappears at principle plus usury rate, and new credit must come on line with new debtors to refill supply. This credit is unstable and also often flows into channels that are non productive. Using it as a transaction medium is a mismatch of types, where the credit's usury takes for its right to do simple transactions. In other words, transaction costs are increased greatly due to hidden costs associated with this money type.
This credit as money type must be insured. It is insured with collateral ...the grabbing of assets during depression harvest phase. It also may be risk insured with insurance companies. This would be a numbers game (credit banking) insured with a numbers game (insurance companies). The future then is hypothecated with number gaming on top of number gaming.
By contrast, wealth money (see my earlier post) comes from the past, and is already present in the supply. It doesn't want to disappear, and is present to help make transactions go forth.
Credit money has dominoes of linkage as well, where if one party doesn't pay then others cannot pay and so on. This causes an unwanted positive feedback that re-inforces into a an accelarating depression.
Credit also creates inflation. There is cost push inflation as all chains in production take out credit loans, and try to pass that cost on in prices. There is also too much credit chasing an asset class, as in the housing bubble. This second type is too much credit per unit time, which then later tips over into deflation.
http://sovereignmoney.eu/
im so confused. Who the fuck is Nomi Prins? Bio anybody? She sounds like a treaury bond salesman; ergo, not that bright. So I would apprciate an understanding of her role on wall St.
She's a squid, former GS. You never shake that.
Wiki it
Are you two working in team?
I look at Brazil, as well as Venezuela, and wonder if they had Sovereign money. And, have they put their focuses more on the crux of their demise (money-power) instead of stupid soccer games.
MEFOBILLS, would you care to comment?
----------------
Brazil, Venezuala, Argentina all take dollar loans, or other "hard currency." This is so they can buy goods denominated in those units. Also, local politicians are encouraged to take excess loans as discussed in book listed next.
Any country that has oil is usually repeatedly attacked with bear raids associated with dollar loans. John Perkin's book, "Confessions of an Economic Hit Man," lays out the plan.
All trade is really barter and the difference in perceived value is taken up with money. Because money is divisible, at the moment of transaction, it can divide down to consumate said transaction. When money is not transacting, it is latent demand.
Humans' associate this latent demand with wealth, because latent demand can command wealth. So, money has many properties, but it is not wealth; its main function is to allow transactions.
Brazil, Argentina, Venezuala all have enough natural resources to become wealthy. Money also is a pricing and distribution scheme, where it may command labor to extract wealth.
Properly constructed money, delivered into channels of production, would be a great benefit to any nation. Rent's have to be taxed, the proper money type needs to enter into channels, and labor needs to be able to exploit their god given talents. Debt instruments and usury is a subset of rents to my mind. Since rents is a term normed out of our language, it is important to resurrect the concept so modern humans can begin to understand their world.
All trade is really barter, and is especially true of international trade. A bancor system has a bancor unit transfering in the opposite direction of a good. Therefore bancors are an accounting scheme that marks goods exchanges between countries. A country acquiring too many bancors comes under scrutiny as a mercantilist.
A system of this type would disallow foreign exchange money games, and hence foreign currency loans. National currency, which is within a countries law, would circulate within its system, and would not be contaminated with foreign money. Law is required to tax rents and go after usurious predators. Law is required to go after land rents as well.
The four pillars of civilization are law, religion, money, and government. Money, if improperly constructed can take over the other pillars.
International rentiers must take on power and law unto themselves in order to enforce their Oligarchial desires, hence the advancement of the new world order under rubrick of international credit. The U.S. is the current enforcement arm of international credit.
How then does a country get investment, like new power plants or machine tools from advanced technological countries?
Simple, they barter goods. So much oil, coal, cocoa, beans, etc. delivered in future in exchange for the high tech gear, etc. If one party doesn't deliver, then there must be a renegotiation, perhaps pushing out delivery especially if it was in good faith.
A bancor unit can also be anchored to a historical unit, such as the price of a cow, or other commodities. In this way, national units can be marked against a standard.
China and Russia wanted IMF SDR's to become something like a bancor. SDR's would morph and no longer be dollar reserve equivalents. Since the U.S. rejected this approach, China/Russia moved into BRICS system and ignited WW3.
U.S. politicians are paid off lackeys via 17'th ammendment, so they are unable to comprehend or adapt to the real needs of their voting population. Brazil, Venezual, Argentina also are paid off as Perkin's demonstrates.
All systems predicate their outputs.
MEFOBILLS,
Thanks.
Can’t tell you how great addition it has been since you decided to blog here, at Zero Hedge.
Then, what do you make of the Euro? What’s the Euro plan that we don’t know?
Again, looking forward reading your comment.
Religion is only a pillar of civilization as a tool to control plebes. Unless you meant a code of ethics, which I would agree with, but that is a far cry from religion.
Religion is only a pillar of civilization as a tool to control plebes. Unless you meant a code of ethics, which I would agree with, but that is a far cry from religion.
That's probably a true statement. But, most people would agree that there is a nature's god. A way of behaving that is honorable and doesn't screw over their fellows.
Even an athiest will have to acknowledge that religion is a pillar of civilization, providing of course that it promulagates a moral code.
I can name some religions that are simply covers for rent seeking behaviors, and these then are false religions.
Nomi Prins is saying what I wish serious politicians on both sides of the Atlantic would say.
Crooks everywhere? Gee, ya think?
Bernard Lietaer when he helped conceive of the Euro made fatal assumptions. One of the most advanced thinkers on money can make fatal mistakes, so others can be forgiven for not understanding things as well.
If you have a credit system, the debt instrument is created locally. It then should demand prices and goods at that locale.
However, in a Euro community, a debt instrument denominated in Euros can travel a path into foreign markets.
Credit Euro’s may also vector away. In the case of Greece, sovereign debt instruments are held in German banks, and their spawned Euro’s are generally held at Swiss banks.
The path of currency flow through Greece paid off political favors, but did not create wealth. Note that the debt instrument created by Greece and the former Euro’s are long gone and well outside of their law.
Only a Drachma, a local national unit, can have the feedback that is required to prevent financial rent games. A Drachma would have been devalued long ago, which then would have drawn in tourists or other investments.
Since money is a pricing and distribution scheme, then Euro is fatally flawed. It has no quick feedback. The Treaty of Lisbon prevents injecting money directly into populations such as Greece.
Unlike the U.S., labor will not easily travel to new locals to then settle imbalance. Imbalance is baked into the Cake in Europe, especially given the differences in national Character.
Europe needs to flush the Euro down into the toilet of history. Countries can easily link up their national currencies via a bancor system. Modern computer systems can mark trade to go forth at high speed with minimal cost.
It’s a travesty when Latvian, Lithuanians, Poles, Irish, Greeks and others have been debt hooked and then have to emigrate their youngest in order to acquire Euros to pay off Euro debts.
The unique national character of European countries will be lost due to ill effects of the Euro, and that may be the ultimate plan. Mankind will lose diversity, so international creditors can be paid.
MEFOBILLS
So, when the Euro fails, Germany and Switzerland play will be over.
What will Germany and Switzerland do?
Sorry, don’t mean to put you on the spot of guessing coming events, but I don’t buy that they will look towards Russia when America is the enforcer for the bank cartel of Wall Street and IMF.
Also, what is your opinion about World Bank?
Tie all these for us, if you don’t mind.
9/10 would bang
If Europe had National Currencies with a bancor system?
There are plenty of things to do. Millions of toilets can be made for countries that need them, new homes can be built that are more comfortable and debt free. Free time can be released especially if money of the proper type vectors appropriately. About half the population can stop working as modern computers and telecommunications have sped up production.
All economics are labor+Earth+Machine. Money is simply a way of harnessing man’s labor and his ability to extract goods from the earth.
Increment of association is another term that mankind needs to come to acknowledge. All of the technological advancements given to us by posterity and our forefathers is a gift to us, not to rentiers. Rentiers would harvest the productive flux of mankind for their benefit, even though they had no action in creating that wealth.
The Swiss have had a good ride, but their economy will have to balance. In fact, balanced economies are always a good bet, because highly educated and efficient labor can find work that exploits their talents. For example, when Russia was converted to an extraction economy in Yeltsin years, then nuclear scientists, mathematicians, and other advanced labor could not find jobs. The increment of association, which is goods production from the earth, was also given away to foreign creditors.
This action is not too different from the Colonial system, which demanded raw materials from colonies, while machines and advanced labor took profits at the center. England for example, weaved textiles from cotton grown in the South of U.S., then distributed their finished goods about the Colonial system.
Germany and all countries will have to balance their economies in alignment with their national character and what they can produce from their land.
If the Euro fails and something worse comes into being, then the outputs will be worse.
World Bank and IMF are Bretton Woods institutions designed to allow trade. World Bank is something like a big box of currencies that should balance out at the end of the day. IMF is bank for making development loans, usually denominated in dollars since it is reserve currency and U.S. has political power. Of course neither of these institutions work properly, especially as dollars are “credit” spawned from debt instruments.
Also, money if vectored into households, to then pay increment of association, it should demand something in return. Stop breeding with dysgenics. Granted this is fascist thinking, but humans cannot keep breeding like crazy as the earth has carry limits, and we don't need more idiots.
Sovereign money leads directly into Social Credit theory.
Otherwise, we have a bleak future of cycling between false dialectics provided to us as - for example, Communism vs Capitalism.
I may have IMF and World Bank reversed above. Bottom line, all currencies should balance in inernational trade, which further gives credence that trade is only barter.
These institutions only hide the real economics that are buried beneath opaque complexity.
The radical truth MEFOBILLS:
"Also, money if vectored into households, to then pay increment of association, it should demand something in return. Stop breeding with dysgenics. Granted this is fascist thinking, but humans cannot keep breeding like crazy as the earth has carry limits, and we don't need more idiots."
I don't know what you you mean by "pay increment of association" but for the demand to be agreed to there would have to be a solid vector mechanism that lasts for life. I don't think that's impossible to come up with.
As I said a month ago, even if we adopted a "no child policy' today, we'd still have enormous problems on our hands. Whether that policy is by decree and along the lines of what your suggesting, or voluntary as people increasingly don't like the storms they see on the horizons (the death insanities Radical Marijuana predicts) so decline to bring children into the world, the truth is that we do have to stop "breeding like crazy". The paradox is that the clueless and the idealists won't volunteer to forgo having children so it seems a decree is the only option given that time is not on our side.
I wonder if this "dysgenics" might classify as a "unitary mechanism"? I've never heard the term "dysgenics" before. In my opinion, we are adopting a 'no child policy' for not-so-distant generations BY FORCE through our unwillingness to talk about and deal with the radical truth. Put another way, one way or another we will have a 'no child policy' in the end. It's now just a question of whether it's temporary or permanent. At three minutes to midnight we really need to get all of global society on board this high-speed train.
All roads lead to Paris.
Too Much Bigger to Fail has now caused the average investor to wonder ... If Jamie D thinks JPM should be allowed to operate unchained then who / why does Jamie think deserves to fail? Like he's saying " we're more important than Iceland, Denmark, Ireland, Portugal, Spain and Italy. But we'd never presume to step in front of France, Germany, or England. And of course Greece is toast because well, they are too socialist- so - there you have its end game -game over. All due to "lack of insurable interest" in the system, our Federal Reserve has decided to protect its own constituents - commercial banks like Citi and JPM as well as the system of healthy banks. as well as GS and MS. And the byproduct will be 4.5T on the Fed Reserve balance sheet as an asset and 4.5T on the U.S. T balance sheet as a liability. Get it? We the USTS owe p&i to the Fed of 4.5T. And they can only sell the bonds, or allow themselves to be collapsed into the USTS and be combined again- just like in the 40's. So - they broke the charter and the trust between the U.S. and the national banks system.
Ever wonder why so few of the general public get it? My answer is that we are brought up to believe that at least a tiny bit of consideration for our fellow man is due. So that when faced with the possibility that there are those who conspire to enslave and impoverish whole populations for gains they could never even hope to spend and if they did spend would not improve their lifestyle at all, the average member of the public simply cannot comprehend willful anti-consideration as a motivation.
We are in the process of being schooled, all over the world.
From JFK to 911:
The truth is irrelevant. It means nothing to those that own US. That simple!
https://www.youtube.com/watch?v=U1Qt6a-vaNM
EU is a fascist project from Berlin 1942
https://www.youtube.com/watch?v=UTMUSVx3z-o
You have only those rights you are prepared to fight and die for, if necessary.
once upon a time, two brothers named Warburg sat across a table and negotiated terms on behalf of recent belligerent companies.
But really, they were working for neither country at all...
I don't always read controlled opposition, but when I do, I read one of the Naomis....