This page has been archived and commenting is disabled.
The Bankruptcy Of The Planet Accelerates - 24 Nations Are Currently Facing A Debt Crisis
Submitted by Michael Snyder via The Economic Collapse blog,
There has been so much attention on Greece in recent weeks, but the truth is that Greece represents only a very tiny fraction of an unprecedented global debt bomb which threatens to explode at any moment. As you are about to see, there are 24 nations that are currently facing a full-blown debt crisis, and there are 14 more that are rapidly heading toward one. Right now, the debt to GDP ratio for the entire planet is up to an all-time record high of 286 percent, and globally there is approximately 200 TRILLION dollars of debt on the books. That breaks down to about $28,000 of debt for every man, woman and child on the entire planet. And since close to half of the population of the world lives on less than 10 dollars a day, there is no way that all of this debt can ever be repaid. The only “solution” under our current system is to kick the can down the road for as long as we can until this colossal debt pyramid finally collapses in upon itself.
As we are seeing in Greece, you can eventually accumulate so much debt that there is literally no way out. The other European nations are attempting to find a way to give Greece a third bailout, but that is like paying one credit card with another credit card because virtually everyone in Europe is absolutely drowning in debt.
Even if some “permanent solution” could be crafted for Greece, that would only solve a very small fraction of the overall problem that we are facing. The nations of the world have never been in this much debt before, and it gets worse with each passing day.
According to a new report from the Jubilee Debt Campaign, there are currently 24 countries in the world that are facing a full-blown debt crisis…
- Armenia
- Belize
- Costa Rica
- Croatia
- Cyprus
- Dominican Republic
- El Salvador
- The Gambia
- Greece
- Grenada
- Ireland
- Jamaica
- Lebanon
- Macedonia
- Marshall Islands
- Montenegro
- Portugal
- Spain
- Sri Lanka
- St Vincent and the Grenadines
- Tunisia
- Ukraine
- Sudan
- Zimbabwe
And there are another 14 nations that are right on the verge of one…
- Bhutan
- Cape Verde
- Dominica
- Ethiopia
- Ghana
- Laos
- Mauritania
- Mongolia
- Mozambique
- Samoa
- Sao Tome e Principe
- Senegal
- Tanzania
- Uganda
So what should be done about this?
Should we have the “wealthy” countries bail all of them out?
Well, the truth is that the “wealthy” countries are some of the biggest debt offenders of all. Just consider the United States. Our national debt has more than doubled since 2007, and at this point it has gotten so large that it is mathematically impossible to pay it off.
Europe is in similar shape. Members of the eurozone are trying to cobble together a “bailout package” for Greece, but the truth is that most of them will soon need bailouts too…
All of those countries will come knocking asking for help at some point. The fact is that their Debt to GDP levels have soared since the EU nearly collapsed in 2012.
Spain’s Debt to GDP has risen from 69% to 98%. Italy’s Debt to GDP has risen from 116% to 132%. France’s has risen from 85% to 95%.
In addition to Spain, Italy and France, let us not forget Belgium (106 percent debt to GDP), Ireland (109 debt to GDP) and Portugal (130 debt to GDP).
Once all of these dominoes start falling, the consequences for our massively overleveraged global financial system will be absolutely catastrophic…
Spain has over $1.0 trillion in debt outstanding… and Italy has €2.6 trillion. These bonds are backstopping tens of trillions of Euros’ worth of derivatives trades. A haircut or debt forgiveness for them would trigger systemic failure in Europe.
EU banks as a whole are leveraged at 26-to-1. At these leverage levels, even a 4% drop in asset prices wipes out ALL of your capital. And any haircut of Greek, Spanish, Italian and French debt would be a lot more than 4%.
Things in Asia look quite ominous as well.
According to Bloomberg, debt levels in China have risen to levels never recorded before…
While China’s economic expansion beat analysts’ forecasts in the second quarter, the country’s debt levels increased at an even faster pace.
Outstanding loans for companies and households stood at a record 207 percent of gross domestic product at the end of June, up from 125 percent in 2008, data compiled by Bloomberg show.
And remember, that doesn’t even include government debt. When you throw all forms of debt into the mix, the overall debt to GDP number for China is rapidly approaching 300 percent.
In Japan, things are even worse. The government debt to GDP ratio in Japan is now up to an astounding 230 percent. That number has gotten so high that it is hard to believe that it could possibly be true. At some point an implosion is coming in Japan which is going to shock the world.
Of course the same thing could be said about the entire planet. Yes, national governments and central banks have been attempting to kick the can down the road for as long as possible, but everyone knows that this is not going to end well.
And when things do really start falling apart, it will be unlike anything that we have ever seen before. Just consider what Egon von Greyerz recently told King World News…
Eric, there are now more problem areas in the world, rather than stable situations. No major nation in the West can repay its debts. The same is true for Japan and most of the emerging markets. Europe is a failed experiment for socialism and deficit spending. China is a massive bubble, in terms of its stock markets, property markets and shadow banking system. Japan is also a basket case and the U.S. is the most indebted country in the world and has lived above its means for over 50 years.
So we will see twin $200 trillion debt and $1.5 quadrillion derivatives implosions. That will lead to the most historic wealth destruction ever in global stock, with bond and property markets declining at least 75 – 95 percent. World trade will also contract dramatically and we will see massive hardship across the globe.
So what do you think is coming, and how bad will things ultimately get once this global debt crisis finally spins totally out of control?
»
- 99560 reads
- Printer-friendly version
- Send to friend
- advertisements -
...bring out your dead...ding...bring out your dead...
This one time I agreed to pay interest on currency chosens made out of nothing.........
RIPS
Jubilee! best case.
Catastrophic world war / mass liquidation of "liabilities" - worst case.
You know what the "liabilities" are...
all 36 of those countries just say "fuck you"
that would collapse the whole thing, and finally get this clown show moving forward. It cant be repaired, fixed, or reformed. It must completely collapse. We should all sheer for it. It is inevitable, so the sooner it happens the better.
I still have faith in humanity. We'll get out of this mess. We've got no other choice.
And I still have faith in a massive comet impact that solves the whole problem for us.
So what do you think is coming, and how bad will things ultimately get once this global debt crisis finally spins totally out of control?
Duh, retrace of human population. the great italian number guy and nostradamian predictions plus darwin and even the bible will rule the outcome. everything else is the steps towards a charred mess that will heal with enuf tyme. spin the above to get outcome. natural cycles will be aberated temporarily. ashes to ash, burn baby burn. but it is not late to:
enjoy every day that a bomb isn't exploding in your backyard.
or a boot put to your face
or some form of austerity isn't being applied to suck your labor for usery.
good day - ph
2015 AND 2016 COLLAPSE TIMELINE
* * *
Debt Default and Dollar Meltdown,Derivative Explosion and Deflation Implosion
are Timed According to a Controlling Calendar
Someday socialism will work.
Just not today.
Faith drives all religions. Faith begins where reason ends. I am not denying faith. It can keep you treading water when all hope is gone. In so doing it might keep you afloat long enough to be rescued. But, misplaced, it will put you on a train to Auschwitz.
I have a challenge for you VFG
Rate the nations on the following list from 1- 10 with 10 being, in your opinion, the 'most socialist' and 1 being the least:
United States
Japan
Germany
France
Italy
UK
Canada
Australia
Austria
Belgium
Czech Republic
Denmark
Finland
Greece
Hungary
Iceland
Ireland
Korea (S)
Luxembourg
Mexico
Netherlands
New Zealand
Norway
Poland
Slovak Republic
Spain
Sweden
Switzerland
Turkey
Now examine their respective national balance sheets and tell us which ones are 'working' the best using your metric of fiscal responsibility:
http://www.theguardian.com/news/datablog/2010/may/27/debt-deficit-oecd-c...
(the data is dated, but the order still more or less stands)
Now: were you able to learn anything about your grossly biased misconceptions by performing this tiniest modicum of research?
in your opinion, the 'most socialist' and 1 being the least
Key phrase...in your opinion.
First he is not the judge of "more socialist" and "least socialist".
Actually that issue is rather moot and irrelevant.
But what you miss is the point that ALL OF THEM, without exception, are failing.
Just because one state is less socialist than another does not make socialism appealing...at all.
It just serves to make them a little less EVIL. But ther lesser of EVILS is STILL EVIL.
The State does NOTHING but take from the productive and distribute some of the stolen loot to those less fortunate in order to justify its theft.
But theft is not EVER MORAL, nor is it EVER JUSTIFIABLE. It is absolutely HORRID, absolutely REPULSIVE, absolutely PSYCHOPATHIC and TRUTHFULLY ANTI SOCIAL as it breeds distrust amongst generally cooperative groups.
And your personal justifications for GOVERNMENT THEFT just serves to demonstrate your COMPLICITY and YOUR SUPPORT of THEFT. That is a reflection of YOUR PERSONAL UNTRUSTWORTHINESS a characeter DEFECT.
So go on...Go ahead...Let's see you justify theft. I need a good laugh.
hahaha, took the challenge and didn't like the results, hey?
"Key phrase...in your opinion."
No, not mine at all, his (hers); the other poster's. And yes it is a key phrase, so what? VFG made the uninformed comment that prompted my challenge to VFG's misconceptions, so it's his/her opinion that matters. Which is the actual point you failed to deal with, and miserably.
First he is not the judge of "more socialist" and "least socialist".
First, nobody asked you, so speak for yourself, because in his/her opinion, he/she most certainly is that judge; who the hell do you think you are anyway, with the gall to say his/her opinion is valueless? I've got money on my flank that says VFG's opinion is as valueless to him as yours is to you.
"But what you miss is the point that ALL OF THEM, without exception, are failing."
Second, you quite apparently failed to perform that 'tiniest modicum' of research I laid at your lazy feet, because, using the relevant metric, my point stands tall. Especially regarding the few national balance sheets that are in the black. Anyway, who died and made you the sole judge of what is 'failing' and what isn't? (see what I did there?)
As for the blah blah blah rest of your irrelevant spiel, your all-caps has me convinced. Or not. Not sure how you missed that I was merely challenging someone else's ignorant and incorrect preconceptions.
Try actually dealing with that point, which (did I mention?) still stands tall.
Here is what we do know.
A. The Shemitah will fulfill itself and bring a massive collapse / correction..
B. The central banks and governments have done everything in their power to defy any correction from any source (Shemitah etc) - and this is all the governments around the world. The Greece dance is a great example of the EU not looking out for Greece but protecting itself from derivative exposure.
In otherwords something *really huge* has to occur to wipe out the world markets.
Scenario A.
Mount Fuji in Japan (or it's sister mountain in proximity to it) will expel smoke and ash and this will be it's third warning as it has already done it twice past since Fukushima in 2011.
There is then a massive earthquake that hit's the mainland of Japan - causing it's NIKKEI to shutter and close indefinitely...
A retired Japanese professor of geology wrote two books warning that within 48 months of any major earthquake Mount Fuji erupts and we are right at the tail end of that window since the 2011 Fukushima earthquake. It is referenced at z3news.com
Back to the prophetic analysis. John Paul Jackson was shown that Mount Fuji ejects smoke and ash three times, then shakes, then erupts - it's pyroclastic smoke and ash killing 6 million people in the area of Tokyo.
However this is only the first event, approximately 7-10 days after the Japanese earthquake / eruption a super mega quake erupts off the northwest coast, it's resulting tsunami takes out Vancouver, Seattle, Portland Oregon and everything, even down in California the resulting tsunami is 100's of feet high and wipes out any building on their shore. Inland at Portland Oregon the tsunami is still 70-90 feet high.
The results causes news networks world wide to cancel everything and cover this calamity day and night, people panic and bank runs ensue.
The markets collapse, and the US dollar looses 20% of it's value. A banking run ensues, and the banking ends up shut down in the United States for 3-6 months causing rioting the world has never seen.
Scenario B.
Banks derivative exposure causes a domino of defaults that eventually hits Mexico which triggers a bank run that occurs on September 12th, 2015.
Banks in the US are shuttered for 3-6 months and this causes rioting and looting requiring the entirety of the US military to control inside the US cities.
Since Jade Helm was so long in preparation then it clearly was anticipated or planned by some element in power.
Scenario C.
Both scenarios occur simultaneously. or one precedes the other..
I thought I told you to leave that micro-dot alone! You are tripping! Ever heard of a thing called Science?
Yea it's that stuff where people who study stuff have some idea of how it works. Is that something you missed in skool? You not only missed the boat, you didn't even make it to the pier. I'm guessing you've got the inside track from Jezus.
Go drink some chocolate milk and try to come down some!
Your arguament is so cogenet and your points so empirical that I don't know how anyone can not just simply bow down and worship your rhetorical greatest.
Try to look on the bright side of all that. Suppose there is a great earthquake - maybe it will open a chasm under Fukushima and swallow the reactor cores deep into the earth. Suppose there is an eruption - maybe it will get good windage and by some miracle all of the ash will land on top of Fukushima to fill the chasm and lock away the cores for eternity.
You forgot that Deutsche Bank's derivatives exposure and the smart money selling and getting out of Euros before the inevitable SHTF ... follow the money.
Fuck all those parasites backing the most devasting evils of this planet.
https://www.youtube.com/watch?v=zXGF7bTifhk
Here is some hope:
"
TEXAS GOLD BACKED BANK - New Texas Bank to Challenge The Federal Reserve Fiat Currency System
The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law. Under the measure, passed overwhelmingly by lawmakers and signed in mid-June by Republican Governor Greg Abbott, Lone Star State officials will establish and operate the Texas Bullion Depository for anyone who would like to deposit and trade in precious metals. The implications are as big as Texas."
"...The Bankruptcy Of The Planet Accelerates..."
Yeah, that was OK I guess. The music and CGI sucked and it was a little too drawn out in parts.
I'm waiting for the sequel: Bankruptcy of the Planet of the Apes
And I still have faith in a massive comet impact that solves the whole problem for us.
2012 scenarii are not fun, because it is humans vs wild. i prefer human versus human event, it's more fun to shoot another person than a tree or a can of coke, especially because a can cannot hurts you.
...no, wait a second...
Humanity is exactly what put us all in dire straits.
The Great Global Debt Default Of 2015
Fukushima isn't human and there is no getting out of that mess.
of course, rational humans would have never bought the debt from these countries. that's the benefit of a real "market". But we don't have a real market...we invent debt, and makes these countries pay real interest. Few people realize that New York City exists as the largest single parasite in the world as a result of invented debt..but real interest being paid.
Sure, these countries will eventually fold, but then the debt will be absorbed by some taxpayers somewhere. New York will continue to do what it does. Invent more debt just to make up for Jamaica's default and the NY party will go on.
Fascism at it's finest. We have giant competing parasites. New York, Washington, Military, Education and then the Free Sh. Army...squeezing the life out of everyone in between.
The debt is about money. The factories and mines will not cease to exist. They will have customers. They will need customers.
It will take about a month for an immediate resolution. If the politicians do not insinuate themselves.
OK. We are f'ked.
We are not "what"s. We are whos.
DEAD being all fiat currencies
charts and graphs...
World's 7 most indebted countries by debt to GDP ratio over 10 years from 2004 to 2014...and RISING!!!
http://www.forbes.com/sites/mikepatton/2014/09/29/the-seven-most-indebte...
1. Japan 272.2
2. Greece 175.1
3. Italy 132.6
4. Portugal 129
5. Singapore 105.5
6. UNITED STATES 101.5 http://usdebtclock.org/
7. Belgium 101.5
GOT PHYZZ????? silver/gold ratios currently 75:1 on current 10 YEAR fake paper lows as of today's epic monkey hammer beat down.
Stack that phyzz, bitchez...it's insurance against the collapse of all fiat...it's not a day trade flip investment with paper bullshit. Trade in those dead FRN Bernanke bucks for real phyzz!
- Projected numbers of US Debt to GDP are always useless if from the FED or CBO or Treasury. And I figure the true GDP is much smaller.
- But 48% of Debt Issues to GDP are foreign owned
- Balance of Payments, Trade Imbalance = Money Leaking from the US Economy... probably in the category like Interest Payments, that kind of leak
No wonder we have little velocity.
http://research.stlouisfed.org/fred2/series/M1V (Top was 2007 Q4 at 10.7, now down to 6.3)
http://research.stlouisfed.org/fred2/series/M2V (Top was 1997 Q3 at 2.2, now down to 1.5)
http://research.stlouisfed.org/fred2/series/MZMV (Top was 1981 Q1 at 3.5, now down to 1.4)
http://research.stlouisfed.org/fred2/series/Mult (Top was January 1987 at 3.1, now down to .7)
Household Debt to GDP for United States©
2014:Q4: 79.96307 Ratio (+ see more)
Quarterly, Not Seasonally Adjusted, HDTGPDUSQ163N,
International Debt Issues to GDP for United States
2011: 48.64225 Percent (+ see more)
Annual, Not Seasonally Adjusted, DDDM07USA156NWDB,
$18.1 Trillion in Federal Debt
-
International Debt Issues to GDP for Spain
2011: 124.81570 Percent (+ see more)
Annual, Not Seasonally Adjusted, DDDM07ESA156NWDB,
-
International Debt Issues to GDP for Ireland
2011: 237.24410 Percent (+ see more)
Annual, Not Seasonally Adjusted, DDDM07IEA156NWDB,
-
International Debt Issues to GDP for Greece
2011: 144.54070 Percent (+ see more)
Annual, Not Seasonally Adjusted, DDDM07GRA156NWDB,
GDP calculations are idiotic. For those who do not know it is the total of all private spending plus all government spending plus exports minus imports. This is an expenditures method and the one usually used.
It is idiotic because there is no way in hell that government spending can be considered the same as private. Government is generally a net loss operation. When you register your car, file your taxes or comply with a hundred other government requirements it is a loss. You have to pay someone to do something of no real economic value. Filing your taxes does not actually add anything to net products or services. It detracts from actual income and productivity with the hours expended, money expended not to mention what other things could have been done with that time, money and effort. It even prevents economic activity as taxes and tax filing are considered in any economic possibilities.
The second thing is that trade deficits are a myth or at least a misconception. The trade numbers look only at currency. If India buys John Deere tractors from Indianna we will say that India is running a trade deficit and the USA/Indiana is running a surplus. That is not true. India got tractors to improve productivity and Indiana got currency. The trade is even, always. Consider your own shopping. Do you run trade deficits with Home Depot, Walmart, Nordstroms, the local gas station and your favorite restaurant? How can that happen?
Back to my main point. Government should be considered a net loss. It should be calculated against the total size of the private sector. If you see government growing in relation to the private sector you can bet that your country is headed for certain economic misery. In commie countries all GDP is government and see how well they do. Under the standard GDP this is okay because government spending is equal to private and yet, in real life it does not work that way.
Government in the USA and most of the West will always grow like a parasite until it kills the host.
totally...of you are right. the numbers are cooked and STILL the U.S. shows up at #6 as most fucked up! I'd laugh at that if it wasn't so fucking catastrophic for us and the rest of the this fucked up world.
But then again, just like all fucked up junkies, you gotta hit rock bottom before you can truly live again. And that's where we're heading.
It's just that the part after the rock bottom collapse we really need to worry about. Who wins after that? Cuz we know there has to be a major battle for control at that point. And so then who will live?
Totally FUBAR
We barbaroi are always quietly waiting in the wings.
When the time you refer to arrives we step out of the trees and proceed to feast on the spoils.
It is what we have always done after a civilisation collapses.
whatever, scavenger. So hey, "Shi-thead Far-ting"...lol...you better have your own spoils prepped up for the long haul before the shit hits the fan. Cuz if you think you're going to get anything off someone like me then you're going to be wiped out in 2 seconds flat, no questions asked. douche-bag.
OHHHHHHHHH! Yer BAD mr. limp dick bad ass. This is a WAG....wild ass guess for the intellects here.
I'd saw about 20 ex-marines, hungry looking for food, will just throw your PHIZ HOLDIN DEAD ASS on a woodpile to be burned like the trash you talk! PHIZ....you'll be suckin dick to stay alive.
What? you got some weapons??? OUUUUUUU! Hongry people don't give a shit about your peashooters. You'll be just as dead and won't be ably for pay for your porn channel! TOO BAD!
Beware the armed clown everybody.....he's bad!
Someone who is not an utter douche might offer up guidance, alternative means, or constructive criticism.
20 Marines humping from town to town, looting homes, would be very vulnerable to the hunter/jaeger types out there since there wouldn't be all of the support systems that marines take for granted these days. In a week the 5-6 remaining marines would be getting very hungry as they hide out in a basement of a soon to be burnt building.
You slugs and all of your phizzzz. One fingernail out and you'll be slobberin and bubblin and shittin your pants to tell them where it is. They'll just hit you with a shovel and off to the burn pile with you hero.....while they do your fat, ugly wife and eat all your food......OH, yea.....call John McCain....maybe he and Sarah can help......he's a hero......yea right.
yup...farmerbraun and garcam123
total scumbags.
You think you know anything about Marines?
You don't know anything other than your head up kim kardashitard's fat fucking ass.
You don't know anything about the geo-political system and the REAL world economy.
You don't kow shit about REAL assets like silver or gold.
Scumbags like you are the cancer of society. The detritous of this world.
You are indoctrinated and brainwashed so bad that you can't even tie your own shoes or figure out what planet you're living on.
You people are the archetype for fucked up sheep-tards who have no clue how to be a REAL FREE SOVERIGHN HUMAN BEING at all in this world.
You are a slave.
A willfull slave.
You LOVE and EMBRACE your SLAVERY!!!
You are nothing but a useless piece of shit because you can't figure out what a useless piece of shit you truly are.
But you will trol on forums like ZH and spew your fucked up diatribe of shit which will never ever convicnce a single real person on here to agree with you.
Ever.
What does a piece of shit like you stand for? What are you doing? Who are you helping?
Lies...Lies...Lies...
Come on...tell us about your lies and what you're doing to help anyone you fuck-tard piece of shit.
Show us all your altruistic ways and what a humanitarian a you are.
Or better yet just walk up to me or someone like me like and try to talk your bullshit. You better hope you have a good dental plan when you get your teeth smashed out of your ugly face for being such a retard.
You don't know a fucking thing scumbag.
I see that you've gone full retard. It was said in jest but it's more than half true.
You claim to be one of the civitates, but I have my doubts.
Anyway you're full of shit.
“‘Barbarism is the natural state of mankind,’ the borderer said, still staring somberly at the Cimmerian. ‘Civilization is unnatural. It is a whim of circumstance. And barbarism must always ultimately triumph.’”
That's all I'm saying. You can keep your wrong-headed personal shit; it's irrelevant.
If you can honestly say that you could survive solo, no sweat, for a year in the NZ bush , like I can , then you're barbaroi; not civitates.
Yep...total garbage...
Nice try, scumbag...
"said in jest"??? That's a cop-out. Pussy.
Full of shit.? Nope.
Bring it. I live in Tampa, Florida.
If you want my personall address just ask. And then just come here. And the we'll settle it.
I will do everything I can to protect and serve the sheeple. If you think you can deter me from that in any way, well then keep it up. You can't call me out because I don't fucking care and I will drop fuckers like you dead in your tracks.
Calm down. It looks like you're only a threat to yourself :-)
I don't feed trolls.
But whe it comes to scumbags like the both of you I make an exception.
Same thing goes to you. Send me your address and then let's meet.
I told you:I'm in New Zealand.
I am a farmer who has been prepping for over 30 years.
I am so old that I did my basic training on the Lee-Enfield .303 and the Bren.
I think that you may be talking to the fairies.
good then for you...sit there in NZ, you piece of shit.
Talk shit...be an asshole.
Come to the US you doucehbag that we would never care about.
Where in NZ are you??? I've always wanted to go there.
It would be extra special to go there and beat the shit out of a douche bag like you.
Thanks for the laughs. Have a nice evening.
I hope that you get better soon.
yep...exactly. Talk shit but can't back it up.
whatever, you fucking douchebag.
But like I said....I've got the cash. You're in NZ? Then bring it up. Tell me where, shit bag!
You wanna go? I'll fucking fly there you piece of shit.
Just a wildassed guess on my part but I think a couple of purported barbarians are going to leave you alone during the upcoming dark times.
Funny when we placed a sign up that looters would be shot after a major fire, our house was left alone and others were hit. I guess no one wanted to test our resolve.
Miffed
Peashooters do not work well against armor you fucking idiot.
So personally I will rely upon FIRE and explosives.
Who needs a gun? Not me. I prefer RPGs, mortars, and Flamethrowers.
And I can convert my Gold Refining Lab real quick to manufacturing items which go KABOOM in the night.
Kevlar may stop bullets. But when soaked with Napalm it kinda just melts to the skin.
And flamethrowers are LEGAL...in every state.
Come on over garcam123...I live at 12223B Woodside Ave, Lakeside, CA USA. I will give you a personal demonstration.
Ever wonder how to refine Gold?
(Damn I love Chemistry. Should have studied that rather than Physics.)
Doubt I will see you. I know women who are braver than your sorry ass.
Thanks for good explanation.
What a relief, when all along I've been worrying about Somalia and Yemen. Silly me
So you haven't been to Dearborn, MI?
Why not juxtapose your doom against the walking dead Japan?
Perspective is everything.
In other news, QSB is suspending all new orders.
Nothing to see here.....
WRONG WRONG WRONG !!! EVERYONE !!
You have GOT to understand. This is NOT the end. This is just the BEGINNING !!
What we are seeing is the wholesale takeover of entire nations by the CORP / GOV. The dismantling of social net systems worldwide by the enslaving power of debt.
Over the last 70 years Crony Capitalists and Central Bankers have been fattening up these Socialist nations and their cradle to grave systems. Particularly the WEAK countries with gullable people, like the Greeks.
Why ? Access to natural resources, land routes, geographic access.....and most importantly ETERNAL INTEREST PAYMENTS TO THE BANKS. IN OTHER WORDS....ENTIRE NATIONS ARE RENTED BY THESE MOTHERFUCKERS !!!
So what if the system blows up. GREAT !! Some other FASCIST COCKSUCKER WILL BE ON THE OTHER SIDE OF THE TRADE AND THE WHOLE SYSTEM WILL JUST GO MARK OF THE BEAST CASHLESS. THE DESTRUCTION OF FIAT DOES NOT MATTER !!
George Carlin said it best nearly a decade ago....."We know what they want. They want it ALL. And they're coming for your Social Security money so they can give it to their criminal friends on Wall Street."
https://www.youtube.com/watch?v=-14SllPPLxY
https://www.youtube.com/watch?v=grbSQ6O6kbs
We had to destroy the world, in order to save the world.
Attempts to unsettle the public using the black art of mathematics shall be punished harshly.
Debt that can never be repaid is a symptom of...
The debt is not designed to be repaid. That is the last thing they want. Debt is about control. It is to be managed so the people never shake loose and have something or,rather someone to service. It is only when the bluff is called that something changes. It is a question of what the distraction will be when that time comes and whether it will be effective.
Under a Fiat Currency Standard Money IS Debt! If All Debts were Settled, there would be No More Money!
"...when the bluff is called..."? Don't you mean to say, "when confidence is lost"?
And who do we owe all this debt to?
I think it rhymes with blues.
If we destroy their paper wealth, they'll punish everyone else for it.
The fiat currency is mostly owed to human predators who created it out of thin air by tapping keyboard keys. In other words, to predators who want to make trillions in profits without doing ANY productive work whatsoever.
DEFAULT.
actually we promised the benefits to ourselves-- so we owe it to us--the thing that makes it not work is that we let those "other guys" hold the wealth that we created--and make the rules for how it gets distributed--
You should not believe the lie that you owe anything that you didn't actually get in your hand at the time of debt agreement-- politicians do not have the right to put you in debt--any debt they make for you should be disregarded. Any entitiy that uses coersion to collect an iligitimate debt from you is leprous.
I cannot believe that the world does not produce enough for a fair subsistance of every human and their dogs and cats. Some get to have a very large piece of the pie leaving much less for others --
NOBODY owes taxes, nobody ever has and nobody ever will. Taxation is pre-meditated theft backed up by threat and execution of extreme violence.
NOBODY has any valid justification or "right" to borrow money and make someone else repay. The entire notion is obviously and completely absurd and (insert 1000 more nasty words).
Hell, today they borrow knowing people not yet born need to pay back what they borrowed. So not only do the predators-that-be borrow money that others are required to repay, they borrow money that others who don't even exist yet are required to repay. That's so completely beyond revolting that... one wonders how anyone can be more corrupt (except those who sanction, defend and promote such behavior).
Obviously humans have NO FREAKING IDEA how good life would be on earth absent human predators. The difference would be so enormous, I doubt even I could properly imagine the difference in results over 10, 20, 50, 100 years.
I think they're called politicians, you know those guys who should all be in Gusman's cell inteead of him?
Truth be known the U.S. couldn't bail out my bar tab!!! It costs 25 cents to print a 100 dollar bill the same as a one dollar bill,,,it's all promissory notes to pay nothing....Try redeeming these warehouse receipts of the gold that should be backing them...GOLDFINGER KNEW THE RULES..
Australia was facing a debt crisis, until about January this year. Then the government wasted a billion or so more on bombing Iraq & that fixed the problem.
There was alao an outbreak of domestic jihadist terrorists which helped us get back into the black, as far as I know.
They bombed with fiat ?
Oh the humanity ...
Was listening to that assclown Bob Brinker last sunday. Brinker says that debt is not meant to be repaid. As long as you can pay the interest it's fine. This is a guy who gives financial advice to others. Fucking world gone mad
He also thinks Individual Savings accounts and checking accounts have FDIC Insurance. He calls it the safest place for your money, risk free up to the insurance amount.
- 2013 Total FDIC Trust Fund in Treasuries = $36.9 Billion + $18 billion in the DIF (Risky)
- 2013 Total National Credit Union Trust in Treasuries = $11.2 Billion
Come to think of it Compton and South Bronx are looking good then, too, no?
I thought Ireland held US Treasuries which if sold would only leave them $26B in debt. Are these Federal Reserve assets held on another country's balance sheets?
http://www.treasury.gov/ticdata/Publish/mfh.txt
http://www.nationaldebtclocks.org/debtclock/ireland
Maybe Ireland like most of NATO pays fealty to the USA.
- You are either with us or against us like those commies in Greece!
Ireland 2002 = $6 B, then 2013 = $91 B, Today $209 B
Ireland didn't need that kind of Grease in 2002. Those are not US Dollar Reserves for Foreign Exchange.
Yeah, looks like $26 Billion is all they would owe.
Like a racket to keep the people poor.
Good link on debt clock.
Yeah, I had no idea, you could plug in most countries on debt clock and it would show their debt. That's pretty cool. Those folks have been busy.
Europe I follow because the whole "euro thingy" fucks everything up.
Normally when you have a "debt crisis" folks simply devalue the money "and that's the end of the debt crisis."
Puerto Rico does have a similar problem to Greece would appear because...again...they can't print their own money.
Yes...the USA does basically "get away with murder" because indeed it can simply print money without an interest rate penalty to the Government.
Interest rates for the "average borrower" in the USA are in fact quite high.
Some credit card rates are 18-25% which definitely qualifies as "usury" in my book.
Needless to say consumption has indeed slackened since the Financial Collapse of 2008...and indeed we have had defaults in the form of Detroit now Puerto Rico etc.
Some of these places don't seem to have anything to begin with...so how they even have "money" in the first place is probably a little odd.
The purpose behind these places having DEBT however has been well documented...namely to drive up the rate that must be paid on any "money."
In that sense "debt" is bad because it can become unserviceable in ANY currency...least of all the one you claim to be able to just "print into thin air."
As a rule...if not THE rule really...DEBT DOES NOT MATTER.
Yes...the USA does basically "get away with murder" because indeed it can simply print money without an interest rate penalty to the Government.
The US is currently the Charmin of fiat.
7 billion people on planet earth, and you cannot generate any demand and market capital!
What's wrong with this picture?
Well, when drugs, arms, and oil are the primary generators of revenues, the consumer market isn't a big market.
The elite aren't investing in a sustainable way.
There are always two sides of the bet. I suspect the winners would't want to brag too much about it.
They will play victim again.
Does it need to be said? A country that issues its own currency cannot go bankrupt. Not that the entire list above can issue its own currency.
Zimbabwe?
Even Zimbabwe can't go bankrupt if it's debt is priced in its currency. Of course, what happened to Zimbabwe is the result when you take too much advantage of this but technically they couldn't become "insolvent." I'm not sure who would ever loan to them, but that's a different question.
The semantic gymnastics only serve to confuse the issue.
Call it what you will -- Zimbabwe can always print enough currency to "technically" pay the bills and avoid bankruptcy; but in the end, it figuratively defaults because the debts are "settled" with worthelss currency.
Not exactly, Zimbabwe officially demonetized their currency last month.
/www.theindependent.co.zw/2015/06/26/demonetisation-the-end-of-zimbabwean...
Okay. If that is not a figurative default, then I don't know what is.
"Zimbabwe can always print enough..."
Not anymore, because of the Demonitization. It "defaulted" already, forget printing.
From the linked article, "Zimbabwe is back in business and it means going back to basics. It has moved from hyperinflation to a deflationary environment." I thought the article was rather inteesting, you should read it!
"cannot go bankrupt" but it sure can become valueless.
It's called the circle jerk of consequences.
When the value of the basis of your country is a fraud bankruptcy looks like a picnic.
Here's a good book to read, "Proofiness, the Dark Arts of Mathematical Deception"...Charles Siefe, NYU
http://ducknetweb.blogspot.com/2010/09/proofinessthe-dark-side-of-mathematical.html
Another one that I embedded that's 60 years old "How to Lie with Statistics"...it's easy reading and short. Not too long ago it was on the recommended reading list from Bill Gates, so what's old Bill telling us:)
http://ducknetweb.blogspot.com/2014/02/a-how-to-lie-with-statistics-guidenow.html
debt can never be repaid because the repayment would destroy the money supply. all money is debt, aka bank credit. someone with a blog called "economic collapse" ought top know that. its not the debt pyramid that will collapse, its the global monetary system based on bank credit.
agree with above comment on Puerto Rico. there is a crisis there that is materializing very quickly. Other US States have major problems, certainly including California.
The world is certainly setting itself up for another Global Depression and a series of wars.
If this is the goal of the Petty Tyrants running the system today - then they are on the fast-track for success.
It is NOT a "debt crisis." It is a plunder crisis. The banksters, and their Zionist masters are seeing a crisis in the flow of plunder, tribute and loot to them.
The so-called debt, fiat-debt, only comes into existence via the fraud and counterfeit by the banksters. They steal it from the people, society and civilization in which they reside.
So called "national debt" is even worse, as the nation, government has pledge us as collateral to the banksters for the debt that they have taken on.
As a result, we, the people do not owe anything to the banksters, but it is they that owes us.
Liberty is a demand. Tyranny is submission.
My guillotine handles all remittances to banksters, pols and crats.
A lot of people here read what you say but few understand the reasoning or the implications--- I give you a +1 for your efforts to make the crowd aware--
--be safe--
The bad news Is debt!
"That breaks down to about $28,000 of debt for every man, woman and child on the entire planet."
The good news is credit!
That breaks down to about $28,000 of credit for every man, woman and child on the entire planet.
There lots said about debters but mostly not a peep about the creditors. Is it just understood who they are?
BoA, JPM, GS, Fargo...Deusche Bank, Santander, SG, Barkley's, UBS, BSHK.
But actually looking at these countries listed.
6 of them are Retirement countries where your dollar goes more.
Africa has always had someone kicking them around for 400 Years.
I'm sure there is some migration on the list, but not sure there is a whole lot of new news here. Costa Rica is supposed to have lost jobs to some transnationals moving out.
If you want a place for retirement out of the rising inflation in the USA... well then maybe you look at these debtor nations.
a Different side of the COIN.
I see what your saying there.
In every pile of shit there is a hidden reserve of skittles.
So the cure is so easy it's not even worth the pixels it takes to put it out there.
Make every one of those debtors into a bank.
Now each and every one of em have the assets.
Bankers, we cure all ills.
I think ZH should create a winner-take-all lottery to predict the date/time of the collapse with some specific event to define the The End.
only if i can exchange my lottery entry fee in fiat & recieve physical as the prize.... just like China, Russia & India ;)
I'll put an oz of Ag on Sept 23rd
I'm 53 years old and I can pay the debt that the government has taken for me. Send the government's account number. I will send a check redeemable in 30 years. The check my wife may be redeemed in 40 years. Checks of my children in 110 years. hehe.
I think Paul Craig Roberts nailed when he said the Welfare State system of Western governments is being dismantled so the bankers can get paid. It was their failed experiment and it went on too long.
I felt that the Euro would not work when I paid three euros for a bottle of Coca Cola 300ml.
I felt that the Euro would not work when I saw the Mirage maintaining prices in Brazil and how much they wanted to charge by Rafalle.
I'm sorry.
The rest of the world can not continue to maintain a beautiful only because Europe is old.
The "boom" of the Euro is gone, gone.
The rest of the world will not be supporting that pile of graduates stupid just because they call themselves educated, literate and full of sí!
hehe.
Who in the hell would lend Somalia anything?
Ok. Let's stipulate to the facts in this article.. What to do. Fiat currency is paper created at the whim of CBs, debt is paper created at the whim of banks. These banks wield power by waving this paper in the face of the various populace. It is currently effective, but long in the tooth. How long will the populace be afraid of paper?
The grand challenge is trying to figure out if the collapse is going to hyper-inflate or hyper-deflate. In one, you want to hold cash instead of assets, and in the other you want assets instead of cash. The problem in the U.S. now is that the Dollar and most assets are in bubble territory. I am sitting mostly in a combination of cash and PMs, waiting for Japan to finish imploding.
That's what they want... then the elite billionaires will buy ALL OF IT...
Public debt or private debt, doesn't matter in the end which kind of debt fuels this historic ponzi scheme, they all collapse under the weight of themselves eventually.
I wrote a blog post in April about the Australian experience with private debt and reliance on mining and China here
Australia is sleepwalking into a recession
http://newworldorderwatchblog.blogspot.com.au/2015/04/australia-is-sleep...
Get ready to get kicked in the NUT's when TSHTF.
Of the G-10 Australia has the best debt/gdp ratio and also has natural resources that are easily recoverable.
The reason the $aud has been put down, is because some people don't want high commodity prices.
If Oil is just above $50.00bbl, then why is 92 octane almost 5.00 per gallon in Southern Kalifornia?
I don't want to hear the "blend" argument...
I think, or, am beginning to think that all debt is a wash - everybody is on the other side of everybody's debt. So that at the end of the day if dominoes were to fall, everybody would just agree to forgive everybody else's debt - bond holders take a haircut and we move on.
Doesn't seem like it oughta be anymore complicated than that. Like when we played dice or cards in school, and soon there were so many IOU's owed to everybody that nobody could figure shit out - so we all just said fuck it - gave up on the outstanding "debts" and moved onto something else. I suspect that is what will happen here and without a lot of hoo haa or nothing. Just one big fucking wash.
I remember a broker telling me years ago, "nobody cares about the debt because nobody knows who owes what and that the numbers are so large it will never be paid anyways." I thought he was a fucking nut job back then - a careless money manager. But, I think he was the smart guy and I was the paranoid asshat. This debt talk has been going on for years - maybe intensely for about 15. The only thing I see are numbers getting bigger - numbers that your brain can't even coneptualize.
Seems to me its so large - so vast - so inclusive that it has made itself completely irrelevant. Like if it hasn't cracked wide open now - then on a marginal basis, does it make any sense to even suggest "its right around the corner?" Bullshit.
Seriously, other than some pensions being rewritten, what is the worst thing that can happen?
Trillions (a number I thought I would never see), will turn into quadrillions, and so on. WTF does it matter? Its all about confidence, and those are just numbers of IOU's continuously being rolled over or retired (monetized). Life still keeps going on.
18 with 24 zeros behind it - fuck i will be dead by then and they will still be talking about it like it actually ever mattered.
Conclusion: Just BTFDYSFI.
I took the red pill YC
So we are all in debt to WHO? Aliens?
Like wiping the debt off is that hard sheesh.
Press delete and we're all back to zero.
Oh and of course with bankers hanging from lamp posts
The billions who live off less than 10 dollars a day technically make more than over 90 million americans who've dropped out of the labor force.
The Bankruptcy Of The Planet Accelerates...
Mercury, Venus, Earth, Mars, Jupiter, Saturn, Uranus, Neptune and even Pluto...all bankrupt !
Pluto does not even have a Bank...
all the Planets in this solar system are bankrupt,
planet earth is slowing down and the sun is burning up all the 7 billion tourists in Greece.
Things don't look much more promising on Pluto either.
There you worked like a slave all your lifes, to buy shit you could never affort,
then the whole Planet goes bankrupt and you all die without a penny.
how very disappointing...
WR;)
And the last I've heard Q99X2 doesn't issue visas.
Dear Experts- commentators-Gringos and members of the tribe,
pull out your army from Europe, sitting there since WWII and let us, EUropeans join Russia and China. We take no notice about american continent and would be glad to get rid of your army and your influence here. Except army you have nothing to offer.
You admit it here, what are your targets:
https://www.youtube.com/watch?feature=player_embedded&v=oaL5wCY99l8
btw 10 $/day is VERY generous. That "expert" has no clue about real word.
I thought you'd never ask.
'This global debt crisis' is only a portent of the great affliction we are suffering from today. The problem was first noticed 50 years ago when some petroleum geologist pointed out that the planet would eventually use up all its crude oil and unless a cheap substitute was discovered there'd be bad news.
The closest thing to a cheap substitute was 'shale oil', oil which existed in shale rock formations all over. Some of the shale oil had, over the eons, had gathered into pools and could be easily extracted with horizontal drilling and perforated pipe. Unfortunately, over 90% of shale formations were small pieces, we have seen sliding down hillsides. This kind of shale has oil but it has to be retorted to extract it and is perforce not cheap, after the scooping up and the transportation to the retort and the the energy required to coax out a few drops of oil.
Commercial scientists and army engineers have been working on this problem since 1970 to no avail.
In 1980, as Hindenburg embraced Hitler and his Nazis, Ronald Reagan made George HW Bush, former director of the CIA, his Veep. This was when the neocons got their foot in the door of the White House.
It also marks the very beginning of the explosion of America's debt. Money was given to the rich in taxes they didn't pay and money was given to the Pentagon for weapons that Washington had no intention of paying for.
This was the strategy of the neocons: free weapons to win the war that would eventually be fought for the last few billions of barrels of in-the-ground crude oil.
The neocons' plan envisaged rough economic times forcing Washington's allies to have a greater reliance on the US to buy their imports during the 7 year plus triple drip recovery.
These subservient trading partners who did Washington's bidding, spent 2% of their GDP on defense, which favored the US, the world's largest weapons maker and seller.
To cut to the chase, the can will not be kicked down the road ad infinitum. When the neocons in State and in the Pentagon feel that they can successfully threaten Russia with 2 or 3 times as many forces on the Western Russian border as are there now, the US and the West will do what Napoleon and Hitler could only dream of. And when enough naval and air assets are in the Philippines and Australia to give the US military a conventional victory on China's long coast.
The neocons did not have to convince George W of that none of this would lead to nuclear war. His demented father was an early neocon and convinced junior. They had no trouble convincing The Negro. Because they were white and The Negro was black.
If the neocons are right -- and they haven't been so far -- when we tighten the choke hold on Russia, there will be no need for bomb shelters or canned food. The Russians, according Gertrude Himmelfarb and Midge Decter, will collapse like Irving or Norman's dicks after crawling into bed with their respective gorgons.
As for the never ending recovery the world is experiencing, we Americans should feel quite blessed.
In the Valley of the Debtor, the country with the printing press is King.
With this list of potential failures, debt slave nations, it is possible to work the math out of who is next to fail with some level of accuracy. After each sovereign debt failure it would be possible to consider the variables of each collapse and be more accurate until all the dominoes have fallen. It would seem to me that this is the cull, the CB's will revoke pensions, hike taxes, give the public a serious brush cut, kill public education and not allow the import of goods because they can't afford them anyway, no imported food or pharmaceuticals, ultimately setting fear into every sheep's heart. The process could take as long as 25 years (imho, every year, one or two nations fail, towards the end it would accelerate), they will create more debt, print more fiat to keep the process alive thus kicking the can further down the road until 'they' decide to call in the loans and it is bankruptcy for the nation states who are weak. This will go until the snake will eat its own tail. It is ponzi and a shake down racket at the same time, there is no way the debt can or will be payed back.
Amazingly Americans thought a dumb black muslim could fix it
I should have thought that France & Italy would be included in the 2nd group.
______________________________________________________
Apart from that, it all adds up to the eventual solution of carrying out a Big Reset since it's the only way to deal with these huge unrepayable levels of debt. Some of it can be described as odious debt and written off.
But the implications of all that are at least revolution since it will destroy the life savings and lives of many millions of people, many of whom never benefitted from the obscene .gov overspending which lies at the core of the sovereign debt crises.
The most astonishing thing that I notice is that there is absolutely no public debate in any country that I'm aware of for .gov spending to be reined it and brought under legislative control, yet this is a crucial must do, else .gov will simply start over because they're addicted to borrowing & spending. And as any socialist will tell you, the easiest thing in the world is to spend other peoples' money. They love it. It's why they go into politics.
Project Venus society or go broke is their agenda. Never thought I would see these sociopaths attempt to pull this off during my lifetime.
Thank God we have the best military and shit loads of armed citizens to clean up this mess.
Where's our bling, bling whipping child Paul Krugman when you need him?
Longer hours, lower pay, alien invasion ....washed-up liberal cunt lick. Give a shoutout Paula, we need a good laugh.
You are lying. You are lying.
I checked my inkjet just this morning and can print still "In God We Trust". Only the size of color cassettes limits a number of copies . There is however a minor distortion of color shift towards the red end of the spectrum, but has no practical significance.
Again this moron Snyder and Western "facts." Where are countries like Murica, Gross Britain, Spain et al. there? Households, businesses and govs' debt of Murica alone is over 60 trillion Muricano dollares, and in relative terms Britain is not much better. Spreading propaganda are you? It reminds me of that story of Western independent and alternative thinkers who are claiming that they know the true volume of China's shadow banking, and place it at 28 trillion Muricano dollares! Yet when asked about Western, especially Murican, shadow banking system mass, they claim there is no such thing, because Westerners like themselves are transparent, honest and trustworthy! ehehehe That Western scum must think world is stupid to buy their stories, how else would one even try to spread lies such as that one knowing full well that derivatives' mass (instrument of financial engeneering exclusively used in the West!) is 1,6 quadrillion! What do you think shadow banking system is? Apparently that lying, propagandist, free-market Westerners think that instruments which are widely used to hide by transfering some of the debt into interest rate swap derivatives contracts, for example, is not part of shadow banking scheme? An instrument used to conceal something is transparent and honest scheme since Westerners are well-known honest, trustworthy and honourable people! ehehehehe
p.s.
According to some, a true level of Murican debt is 220 trillion dollares (only insiders would know the exact figure, but the number of professor Kotlikoff indeed does include derivatives and that makes him the most trustworthy source when it comes to the subject of indebtness!), which puts Muricano debt at 1.200% of its GDP! Talking about indebtness and all, hm?! But thankfully that illusion is about to be shattered soon, but the longevity and immensity of deception will make the forthcoming "sobering" part very painful.
And talking about those independent thinkers, really how stupid you have to be to trust your gov statistics after even you had proven they are fakes and sources they come from nothing more than gov centers of lies, propaganda and deception, hm? All you can see from those "thinkers" in their works are the "facts" coming from such sources! Such smart thinkers they are contradictiong their own results and conclusions by continually accepting premises they proved are frauds and fakes... being defeated by their own stupidity!
Numbers are funny things. We mostly use a system of ten symbols to describe all the numbers (quantities) that can exist in the universe from zero to infinity (The are eleven other base systems like binary not counting alphabetic systems like roman numerals) . Without context or a point of reference, they are meaningless abstractions beyond comprehension so it's worthwhile to gauge them from a personal perspective that may be more familiar than a sequence of symbols. Here's one you may have seen in terms of 100 dollar bills:
US debt ceiling visualised
For me personally, I can't experience numbers in the billions, let alone trillions. I can just about cope with the concept of millions and hundreds of millions - I know that theoretically if I spent my entire life counting seconds and doing nothing else, I may get up in hundreds of millions before I croaked. I know what a year feels like, but I have no reference point to know what 13.82 billion years might feel like (13,82 billion years is the age of the entire universe) other than it being beyond my understanding.
When, as this article suggests, there is around 200 trillion dollars in global debt and possibly quadrillions more in unfunded liabilities (The US unfunded liabilities alone is 122.1 trillion dollars as at 2012) which are both rising beyond geometric rates, it is impossible for me to get my head around to reconcile these astronomical amounts with any reasonable formula that can balance the amounts owed against the amounts that can be paid. In other words, the system is inherently designed to add more burdens, more debts, more productive labour owed to the owners of these debts known as banks. The debts very quickly become generational, that is, the moment a baby is born in an indebted country, that baby has a lifetime of obligations before it has taken its first breath. This system is not only batshit crazy, but immoral to the core.
When entire populations find that even generational debts cannot service the existing ones, they cheat by decreasing the interest to nearly zero. Then when this is not enough, they cheat by pretending they are more productive than they are or deliberately destroy what they build to replace them in a cycle of destroying-spending-producing that has the net effect of adding more debts. The military is a good example of this cycle. Then they start stealing from others and even themselves, "rehypothecating", committing fraud to inflate assets they own to sell it on to suckers and then to deflate assets they have sold with an eye to buying them back cheap. Finally, the banks take position of the nation itself - its lands, people, laws, rights and government. This is what happens when you allow the few to control the purse strings of state at their whims to live and behave like kings. This is what happens when you allow the few to print money based on nothing and charge you interest for the privilege of using it. This is what happens when you allow the banks to conjure up money out of thin air the moment they get a sucker to sign a loan as fractional reserve. This is what happens when corporations/groups of people become too big to fail, too powerful to prosecute and too wealthy to criticise. In other words, this is what happens when the system is stacked against the many because the wealthy and powerful few control everything.
Socialism, capitalism - blue team, red team - republican, democrat - conservative, labour. These fake dichotomies are the tools with which they have controlled the debt slaves from revolting and made politics the realm of ostentatious largesse, all the while "making money" in the background, creating private and public debts to feed this immoral system by sitting back and pressing the print button.
The creation of money based on nothing but untenable debts is way beyond stupid. Everyone can see it. Money is a conceptual device - a store of value and convenient medium of exchange. Until we devise a system based on human effort and ingenuity, this entire economic system has only two outcomes: A planet full of debtors with a few creditors on top or Implosion. I dare say most sane people would opt for the latter rather than consign their children into perpetual slavery. When you start scribbling numbers that represent debts which is beyond the imagination to visualise, which you can clearly calculate to be untenable, then you know for certain that the system which created it will collapse. I've had this feeling for years.
It's all very well writing about concepts and funny numbers but from a personal perspective, I decided to opt out of the system as much as can. That meant keeping hard assets as a store of value and learning skills to be as self-reliant as I can. If I had the money (Ha!) I'd be farming in Chile with a chest full of gold and silver, but since I live in the real world, I do what little I can to live a good life and try to be as decent as I can to others. I also support anti-war efforts and crowd funding as they represent the antithesis of what I recognize as bankster influences in the world. I don't advocate any one lifestyle - I think it is incumbent on the individual to do their own research and find what suits them best - but I did want to post some thoughts on the matter before I forgot them in the rush and confusion of the daily grind that confronts us. :)
Modern Monetary Theory (MMT) is the other socialist hand wrenching joke. Let them jump off the cliff when all else fails.
The KVB - Into The Night - YouTube
Thanks for the effort
Haircuts are a no-no. Interest is zero. Yield is zero. You can buy a German life insurance = zero yield, a Google share = zero yield, a Swiss bund = negative yield. The system is running into the red zone and is now entering self-destruction mode. Working has become useless because the money you earn can buy nothing that produces yield. Thank you to the central banks that have destroyed the system.
Print up the debt
Don't print the interest - or if you do, just give it to yourself, never let the borrower have access to it
Brilliant
President Trump will get this shit straightened out.
Along with VP Sanders and Attorney General Warren......your thievin punks are toast!
Along with VP Sanders and Attorney General Warren......you thievin punks are toast!
Seems Peter Zeihan's ideas are pretty spot on with the accidental superpower.
The clap trap Hebrew slavemaster's have sounded off the siren, return to your cubicle.
Your Desk: The Hottest New Lunch Spothttp://m.youtube.com/watch?v=0PSHJnYScFY
Call the Hotline, that's how sick these people are.
Step 1 buy bitcoin
Step 2 print more money
Step 3 Proffit!
Gee, who would have seen this coming?
Soveriegn Defaults of the 1930's:
Austria (1938)
Bolivia (1927, 1931)
Brazil (1931, 1937)
Bulgaria (1932)
Canada (Alberta) (1935)
Chile (1931)
China (1932, 1939)
Colombia (1932, 1935)
Costa Rica (1932)
Dominican Republic (1931)
Ecuador (1929)
El Salvador (1932, 1938)
Germany (1932, 1939)
Greece (1932)
Guatemala (1933)
Hungary (1932)
Mexico (1928-1930)
Nicaragua (1932)
Panama (1932)
Paraguay (1932)
Peru (1931)
Poland (1936)
Romania (1933)
Spain (1936-1939)
Turkey (1931)
United Kingdom (1932)
United States (1933, see Executive Order 6102)
Uruguay (1933, 1937)
Some Folks just Never Learn.
The US also defaulted in 1971 when Nixon removed the gold backing of paper dollars which were legally redeemable for gold.
it's a zero sum game
the transfer of wealth will continue until the ruling elite are dethroned
More Like Decapitated (Not Dethroned)
I see it an unprecedented and historic opportunity to permanently purge the United States of its pretentious, thieving, criminal, traitorous and illegitimate Elites of all stripes: political, financial, media, corporate, perverted black-robed judicial, all lawyers, billionaire TBTF banking gangsters, etc.
In particular I've been having recurrent visions of a 'Mussolini-moment' involving piano wire for the Indonesian mullahs candidate and it's transgendered thing that have been laughing out their perverted asses at Americans for some years now while destroying America from within. Truly they are the perfect bad-example of the elites' festering illegitimacy and the United States' system of rigged elections! There is not even 1 elite out of every 1000 worthy of bothering to save.
You forgot most Americans are too stupified sucking down the big gulps and eating Shitdonalds to worry about some banker elite...and just how courageous that "thing" that was speaking at the ESPYS the other night
Once the new class elite collapse the economy with debt, the only "answer," will be global socialism. Cloward and Pivon writ large. Anyone who disagrees will be sent to insane asylums.
I just see a list of Second and Third world countires that have never been a factor in anything. I note that Ireland has proudly taken its place with the group - the Emerald Isle is rapidly transitioning to a North Atlantic version of a typical African shithole - and they are so proud to have OK'd anal marriage.
If all those nations disappeared tomorrow no one would be the wiser.
Well, all I can say is that - IF Cape Verde goes tits up, then we're DEFINITELY doomed.
(run for the hills, etc)
I'm sure our fearless leader Golf man Omaba will save us. Maybe he'll employ the likes of Helicopter Ben Bernanke to help out
Is it just a Coincidence that Laos, the Only Asian Nation of the 38 listed here received plenty of Western Exposure thanks to a "Police Action" next door a couple of Generations ago? If I recall, the US had Tens of Thousands of "Policemen" sent home in Body Bags, no?
Did they perhaps learn some new accounting techniques back then?
Phoumi Nosavan, the golden triangle and the carpet bombed Plain of Jars.
One of them being Ukraine.
But here is a new angle about flight MH17 which knocks a hole in Putin's argument :
http://uk.businessinsider.com/russian-rebel-video-of-the-mh17-flight-2015-7
Beware of dogma, always stay a skeptic until you have all the FACTS ! ...That's what my father taught me.
garcam123 wrote in a reply that was previously posted above:
"Ever heard of a thing called Science?"
http://www.uky.edu/~eushe2/Pajares/Kuhn.html
The Structure of Scientific Revolutions, makes science in general, and especially social science, much more problematic. After all, the oldest and best developed form of social science and social engineering was warfare, which was the history that enabled the banksters to become the greatest gangsters, who could control governments to enforce the banksters' frauds. Social sciences like warfare, and economics within that, are INTENSELY PARADOXICAL, due to their social successfulness being based on the ability to back up lies with violence, which is the SOURCE of the banksters' power, since they have applied the methods of organized crime to the political processes.
It is relatively easy to identify which cultural groups predominate as the best organized gangs of criminals, that currently dominate the established sociopolitical systems, and do so by being the best professional liars and immaculate hypocrites. Social sciences suffer the most from being stuck inside of paradigms which are almost totally based on the bullshit of professional hypocrites. The globalized systems of debt slavery, backed by wars based on deceits, are headed towards their runaway debt insanities provoking death insanities. In that content, I REPEAT one of my favourite quotes about how and why more and more of the world's nation states are becoming bankrupt servants of the globalized DEBT SLAVERY SYSTEMS:
Fundamentally fraudulent financial accounting systems have been making the public "money" supply out of nothing as debts, in order to "pay" for strip-mining the planet's natural resources. The ENDING is not going to be due to no longer being able to make more of that "money" out of nothing, the ENDING will be due to diminishing returns from being able to strip-mine the planet, so that the greatest Boom will be followed by the greatest Bust. Therefore, I expect that in about a Century the total human population will more probably be less than one billion, rather than more than ten billion.
The reasons will be due to the excessive triumphs of the international banksters having been able to control civilization through ENFORCING FRAUDS. The degree to which the banksters have been able to control civilization through their systems of legalized lies, backed by legalized violence, have resulted in civilization as a whole manifesting psychotic criminal insanities. The ability to continue to create "money" out of nothing as debts simultaneously requires that the vast majority of people develop attitudes of evil deliberate ignorance towards the basic laws of nature, and especially demands that the vast majority of people live inside of fragmented fantasy worlds, in a wonderland matrix, or bizarro mirror world, where everything that they were taught to believe was as absurdly backwards as it possibly could be.
In each short-term increment, the banksters' debt engines generate more "money" made out of nothing as debts, which primarily "pays" for strip-mining the planet's natural resources, in ways which are done faster and faster, since everyone overall is running on those treadmill debt engines. However, "money" made out of nothing actually "paid" for nothing. Rather, those were fundamentally fraudulent accounting systems, which depended upon being able to back up legalized lies, with legalized violence. The issues regarding the relatively objective limits to strip-mining the planet, along with the associated accumulations of garbage and pollution, are deliberately disregarded and discounted within the banksters' systems based upon ENFORCING FRAUDS.
THE BIG PROBLEMS that human beings face are the history of warfare based upon deceits, and then finance based upon frauds, having driven civilization to become runaway psychotic criminal insanities ... due to the longer term consequences of running into the limits of diminishing returns from being able to continue to strip-mine the planets' natural resources at an exponentially accelerating rate, which was previously possible for thousands of years, during all of recorded human history of Neolithic Civilizations.
That primarily started in the Middle East, and spread out from there, to conquer almost the whole world. (Although the same basic mechanisms were also independent rediscovered and redeveloped elsewhere as well.) The currently dominant sociopolitical systems are the best developed forms of organized crime, that were created in the crucible of the Middle East. Metaphorically speaking, the banksters are the descendents of Babylon. The historical sequence of events in the American, and global economies, tended to follow the calendars of those who were the best organized gangs of criminals, which were most able to dominate what civilizations actually did.
"The Bankruptcy Of The Planet Accelerates" BECAUSE the whole planet is dominated by the international banksters, who developed to become the best organized gangs of criminals, that were able to apply their methods of organized crime to the political processes, in order that governments would end up enforcing the frauds of privately controlled banks. Therefore, country after country falls into the pits of their debt slavery generating numbers which are debt insanities. The countries which most suffer from those debt insanities are those whose history and geographical situation has meant that they are most clearly reaching the limits to them being able to continue to increasingly strip-mine their natural resources. The "money" made out of nothing as debts is running into real limits of diminishing returns, and that shows up first and foremost in the fundamentally fraudulent financial accounting systems that had been previously facilitating that.Snyders' question was:
My answer is worse than we can imagine, because the established systems are headed towards provoking death insanities, while the only realistically better solutions would have to be better organized crime, in order to develop better death control systems.
Another recent article republished on Zero Hedge made similar points as in the article above: All Hail Our Banking Overlords!
At the present time, the world's food supply is extremely dependent upon cheap oil. That system is hyper-complicated and therefore, extremely difficult to imagine remaking itself, as long as that system continues to be dominated by fundamentally fraudulent accounting systems, as it actually is at the present time! Systems based on believing in endless exponential growth drive wilder oscillations as those reach real limits, which appear counter-intuitive to those whose mental models were almost totally based on taking endless exponential growth for granted. Some of the ways that the diminishing returns manifest are as demand destruction, which causes an apparent decease in the price of oil. However, that is another accounting illusion, rather than something which is more objectively real.
As I recently commented under this article:
http://cassandralegacy.blogspot.ca/2015/07/wicked-problems-and-wicked-so...
Wicked problems and wicked solutions: the case of the world's food supplyThe SOURCE of the wicked problems are that the international banksters controlled the world through applying the methods of organized crime through the political processes, so that governments would enforce those banksters' frauds, even against the national interests of those countries themselves. However, the even more wicked solutions would have to be better organized crime, because the only realistic resolutions of the real problems would have to more directly deal with what those real problems actually are, namely, that money is measurement backed by murder, because the debt controls are backed by the death controls, inside of the overall context that all private property is based upon backing up claims with coercions. The most basic things that people need, like food and water, are becoming more and more entangled in the machinations of fundamentally fraudulent financial accounting systems, which drove the privatization of the public "money" supply, which then drives more and more privatization of everything else, so that the world becomes covertly more and more controlled by the established systems being based on backing up lies with violence, and therefore, that is SOURCE the basic political problems.
Civilization as it currently exists is a social pyramid system based upon being able to back up lies with violence, which gets done through relatively tiny groups who specialized in being dishonest and backing their lies up with violence, who are surrounded by far larger groups who have adapted to that situation for generation after generation by become so ignorant and afraid that they feel afraid of becoming less ignorant. The problems that civilization now face are due to the paradoxical final failure from too much success through controlling what civilization does by being able to enforce frauds, whereby groups like the banksters are able to benefit from their symbolic robberies, from governments enforcing the banksters' frauds, which then continues to develop vicious spiral feedback loops, whereby the banksters are then even more wealthy, and therefore, even more politically powerful, due to their increasing ability to dominate the funding of political processes in general, which has already resulted in them being able to control all of the most important sociopolitical institutions, such as the schools and mass media, in order that the vast majority of people continue to be so brainwashed to believe in the banksters' bullshit that they are barely able to begin to see that is the case!
At the present time, there is almost nothing but a core of organized crime, surrounded by layers of controlled opposition groups. That kind of controlled opposition does not admit and address the deeper reasons for how and why governments have become the biggest forms of organized crime, controlled by the best organized gangs of criminals, which are currently the international banksters. Therefore, there are practically never any realistic solutions proposed for those problems, but rather, there only tends to be more of the same old-fashioned bullshit impossible ideals promoted as the basis for bogus "solutions."
"The Bankruptcy Of The Planet Accelerates" BECAUSE civilization operates according to the principles and methods of organized crime, BECAUSE those are what most closely match the real ways that human beings and civilizations operate as entropic pumps of energy flows. HOWEVER, the ways that the vast majority of people misunderstand that are as absurdly backwards as that could possibly be, since the established systems are based upon ENFORCED FRAUDS, which require that almost everyone maintain attitudes of evil deliberate ignorance, due to the ways that having been able to back up lies with violence enabled those lies to become socially dominant, as demonstrated by the degree to which the banksters dominate civilization through enforcing frauds. Merely recognizing that those are frauds does NOT change that those frauds continue to be enforced. Therefore, the vast majority of people have found it more personally practical to accept those frauds, and adapt to living inside those frauds, for generation after generation ... while those who attempted to change that social situation continued to be defeated by the real ways that those frauds continued to be enforced. Hence, for the vast majority of people, the most practical individual strategies became to deliberately ignore the central social facts that the political economy became more and more totally based upon enforcing frauds. Almost everyone became proportionally successful to the degree that they adapted to accept that the world was being controlled by systems that enforced frauds. The result of the prolonged triumphs of enforcing frauds resulted in almost everyone becoming socially successful in proportion to the degree to which they could operate as professional liars and immaculate hypocrites, acting inside of those systems based upon enforcing frauds, in ways whereby they could continue to deliberately ignore that was the case as much as possible, for a long as possible ...The debt slavery systems that exist are due to the best organized gangs of criminals controlling governments, which then enabled fundamentally fraudulent financial accounting to direct everything that civilization did, in ways which became runaway psychotic criminal insanities, where each short to medium term success based on enforcing frauds could result in worse and worse longer term outcomes. Therefore, we are rushing to strip-mine the planet as fast as possible, while we tend to deliberately ignore that in the most evil ways possible, but rather, tend to publicly present that as somehow being "good things" to do!
There are INTENSE PARADOXES wrapped around and around the history of successful warfare based on deceits, morphing to become successful finance based upon frauds. The only ways that the ruling classes have actually prepared for the longer term consequences of them having done that were to stage more false flag attacks, in order to be able to start more genocidal wars, as well as prepare to impose democidal martial law. Within the established social pyramid systems, based on backing up lies with violence, the only politically possible "solutions" are bigger lies, backed by more violence: Therefore, the banksters can not do anything else inside of their systems than continue to enforce frauds.
Meanwhile, the deeper levels of the real problems were due to how and why human beings and civilizations operated as entropic pumps of energy flows, which necessarily matched the principles and methods of organized crime, whereby the debt controls were being backed by the death controls. THE INTENSEST PARADOXES are due to how and why warfare was the oldest and best developed social science and form of social engineering, while economics developed as a subset of that, inside of the history of warfare. That indicates that the only realistic resolutions to the real problems require that we go through profound paradigm shifts in the ways that we think about the death control systems, which is being made more and more imperative by the development of weapons of mass destruction, that makes operating the human murder systems become orders of magnitude more difficult than at any previous time in human history!
Militarism is the ideology of the murder system, and that deserves to be seen as the supreme ideology. That is the realm in which our ideas regarding political science need to go through the most profound paradigm shifts, in order to PERHAPS be able to survive by changing and adapting to the development of globalized electronic frauds, backed by the threat of the force of atomic bombs. However, since the established systems are all operated by the best available professional liars and immaculate hypocrites, it appears politically impossible for our political perceptions to go through sufficient paradigm shifts. Therefore, the most probable futures continue to be that the debt slavery systems will continue to become debt insanities, which will continue to provoke death insanities. Furthermore, those will become orders of magnitude worse than ever before in human history, due to the exponential growth of the human population and total human activities having been based upon strip-mining the planet, in ways which were facilitated and enabled by fundamentally fraudulent financial accounting systems.
Primarily, just as we have deferred the debts onto future generations, we have also deferred the deaths onto future generations. While those who are old and rich now, inside the social pyramid systems, closer to their core or their tops, may well have insufficient reasons to change the ways that they think or the ways that they behave, the younger people, and those not yet born, will be probably be forced to face the facts that everything was being done through systems which enforced frauds, while the consequences of doing that accumulated, to be dumped upon the younger generations.
It is future generations who are likely going to be more and more experiencing the real limits of diminishing returns from being able to continue to strip-mine the planet's natural resources, and therefore, will be forced to adapt to those emerging realities. Primarily, that will show up first and foremost through the financial accounting systems, whereby the debt slavery becomes debt insanity, and that will then provoke death insanities. Indeed, since the ruling classes always operated their established systems in those ways, the only things that the ruling classes have done to prepare for that future have been to deploy a series of false flag attacks, in order to prepare for way more genocidal wars, along with imposing democidal martial law.
The main issues facing future generations is whether or not they will be able to survive through those bottlenecks ??? There is no reasonable doubt that the exponential growth based on strip-mining the planet has already seriously overshot whatever may have otherwise been more sustainable. The established systems based on enforcing frauds were not able and willing to do anything else than continue to double down on their enforcing frauds. Therefore, "The Bankruptcy Of The Planet Accelerates" ...
Meanwhile, practically nothing realistic is being done to adapt to that, other than the ruling classes continuing to prepare to back up bigger frauds with even more force, while the vast majority of people continue to act like incompetent political idiots, or Zombie Sheeple, inside of that social situation, where they are being fleeced to exhaustion, while being set up to be slaughtered. The international banksters are collectively a group of trillionaire mass murderers, who continue to head towards again and again attempting to double down on that. Moreover, those banksters have also been perfecting their techniques to be able to control their opposition, and therefore, there is barely any effective opposition, rather than merely different kinds of Black Sheeple, or reactionary revolutionaries, which do not promote better organized crime, to operate better death control systems, but rather, after their superficial analysis of the enforced frauds done the banksters, they promote superficial "solutions," based on stopping that from happening, which impossible ideals amount to being the same as saying that human beings should stop operating as entropic pumps of energy flows.
The only things that are possible are to change the ways that we perceive our political problems, which includes things like perceiving that we currently think about entropy in absurdly backward ways, because that is what fit into the biggest bullies' bullshit world view, where everything was more and more being presented in absurdly backward ways. That is the overall context in which "The Bankruptcy Of The Planet Accelerates" BECAUSE the best organized gangs of criminals are the banksters, that have been able to so totally capture control over all sociopolitical institutions that the banksters also effectively control all of their publicly significant, apparent "opposition."
The vast majority of people would have to suffer through severe cognitive dissonance in order to begin to understand how and why governments are the biggest forms of organized crime, controlled by the best organized gangs of criminals, and that the only realistic resolutions to those real problems would have to be to develop better organized crime. At the present time that appears politically impossible, while the automatic default is for the established debt slavery systems to continue to generate numbers which are debt insanities, which then provoke death insanities. It does not look like we will slow down the breakneck pace of strip-mining the planet's natural resources, due to civilization being controlled by the banksters' frauds being enforced by governments, until we are finally forced to do so, at which point it will be way too late to prevent that exponential growth from having overshot so spectacularly that unprecedented death insanities are the automatic default outcome.
At the present time, it appears politically impossible that enough people will understand things enough to be able to agree upon any better death control systems being developed, especially since doing that would require series of intellectual scientific revolutions, which would apply to political science in general, and to the combined money/murder systems in particular. To travel more deeply through the INTENSE PARADOXES requires that any realistic resolutions to the real problems would require better death controls to back up better debt controls. However, to the degree that is NOT politically possible, then the default "solutions" are for the debt insanities to provoke death insanities ... which is why I continue to cling to the mostly irrational hopes that those events, mostly befalling future generations, will drive them then to change the ways that they think, sufficiently to be able to change and adapt to survive through those times ???
I would have thought that Argentina would be at the top of the list. They have no net central bank reserves (less than $15 billion; their currency is overvalued by at least 40%; they owe $25 billion to US based "vulture funds" (confirmed by U.S. Supreme Court); add to it an ever growing fiscal deficit (and endless money printing); inflation of over 30% and corruption at all levels of the economy and society. Voila! What else do you need to make the list???