Guest Post: Endgame: When Debt Is Fraud, Debt Forgiveness Is The Last And Only Remedy

Tyler Durden's picture

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takeaction's picture

This guy describes the GAME perfectly.....You have to see this guy.  He calls it right. Take the time to watch...well worth it!  Please watch all the way....Last 2 minutes..EPIC!

http://www.youtube.com/watch?v=JENWiSr3GkA&feature=player_detailpage#t=2s

takeaction's picture

Just clicked the start of a couple...Nice.  Thanks.  Marked for later viewing!

 

MarcusLCrassus's picture

Yes, this guy is the real deal.  Sounds like he hit a little too close to home for some.

He basically says that the only way to fix the system is to re-write all the laws so that things the banksers do that are technically legal to do are made illegal.  The fact that they basically wrote these laws in the first place has resulted in them being able to get away with financial terrorism because the financial terrorism that they commit on a daily basis is still technically legal.  Just nationalizing the Fed won't do the trick as the Fed is just an instrument of the banking machinery as a whole. 

john39's picture

impossible.  it would be like unscrambling eggs.  besides, they control all the resources and buy off all the politicians.  common people have enough trouble just keeping a roof over their heads and feeding their kids.  this ends in blood, or enslavement...  or some of both.

LawsofPhysics's picture

"they control all the resources"

 

LOL!  Not according to many oilfield and natgas workers my brother and I know.  During a crisis, possession is the law my friend and aside from bricks and concrete I don't see much of anything of value in NY city.  You should also realize that many of those resource-rich states have the majority of the volunteers for the armed forces.  In the end, the military leaders will most likely sort this one out.

john39's picture

agree with the gist of what you are saying... but, your proposed course of action also requires a repudiation of the legal system entirely.  because there is no way to fix this mess inside the system as it exists today.  to pass a simple law takes a huge expensive effort, and they control the process.  in other words, the legistlative and court systems are dead ends for real change.   what you are suggesting is more along the lines of the "blood" I also had in mind.  if you don't get rid of the legal system, everything that you propose is "illegal" and will be overtuned.  

i too have wondered for awhile when the military guys would figure out that they are being used to fight wars that do serve the constitution or the american people, but rather international bankers, corporations and foreign powers?  guys at the top must know, and must have sold out...  maybe a coup a the colonel level... isn't that how it usually goes down.

LawsofPhysics's picture

"but, your proposed course of action also requires a repudiation of the legal system entirely."

 

LOL!!!!  Like this hasn't happened already.  Thanks for sending me out of my chair with laughter!

john39's picture

yeah, by them.  you try it and let me know how it goes.   the kings of kings were never bound by the legal system, that's just for the proles.  didn't think that needed to be mentioned.

ussa's picture

Your senior military leaders are chosen because they buy into this philosophy. 

Good luck effectively coordinating battalion level commanders across air/ground/sea assets.  Most of these leaders are focused on proficiency and effectiveness at the uniti level and have very little perspective of debt has money and its broader implications for debt slavery and political control.  They are also wise enough to know or at least be extremely wary of the terrible consequences of military intervention in the US political system. 

Bottom line:  Don't depend on the oath to the constitution any three or four star has made to rid the country of the debt based money system.   Many have bought into the system and were selected because of that belief or are too focused on military duties and missions.

ussa's picture

Your senior military leaders are chosen because they buy into this philosophy. 

Good luck effectively coordinating battalion level commanders across air/ground/sea assets.  Most of these leaders are focused on proficiency and effectiveness at the uniti level and have very little perspective of debt has money and its broader implications for debt slavery and political control.  They are also wise enough to know or at least be extremely wary of the terrible consequences of military intervention in the US political system. 

Bottom line:  Don't depend on the oath to the constitution any three or four star has made to rid the country of the debt based money system.   Many have bought into the system and were selected because of that belief or are too focused on military duties and missions.

Prometheus418's picture

Bullseye, LoP.

While the very sophisticated and well-dressed DBs in NYC might look down on me and mine from their ivory towers, the fact remains that we do not now, and have never in the past, needed to sell them our corn, cheese and beef at firesale prices.  

The heartland provides a public service to the United States, and for decades we have been at a Nash equilibrium.  We provide the food and bottled water for your cesspools, and you provide the toys and innovative flavored coffees.  It used to be a win/win, because, quite frankly, cows are boring and we needed distraction.

But now?  You're a bunch of track-suit wearing, canoli eating fat SOBs who couldn't toss a hay bale to save your pathetic lives.  We don't have to fight you, you'll die on your own when the food supply dries up.  

If a million farmers, and the remaining blue-collar production workers change their names to Galt, you, so solly, are fucked with a capital "F."

We have clean air, clean water, and airable land.  We have moral fiber and muscles that have not yet atrophied.  I can nab iron ore off the surface of the ground with a magnet.  We have oil sand, and a spanking new plant to process it that can be seen from ten miles away.  

Take off your Gucci loafers, and join us.  We all used to be Americans, and god-willing, we might be again someday.  The time has long since passed when everyone needed to STFU, get in the boat, and row- nobody can match the American people, wherever such may still be found.  Unfortunately, Americans are a dying breed- but maybe some of you bitchez can be rehabilitated.

Then again, I've have a couple this evening, and maybe I'm just picking a fight for the sake of it.  

Nawww.... Fuck ya.  Stop whining and get back to work- TANSTAAFL, Bitchez.

bigkahuna's picture

This ends with enslavement. We are already enslaved-it will go lower though. The problem is that people do not realize that there has been a coup and they are even now being conditioned to accept the brunt of the impact of the coup-so when it comes, we will all just go along to get along. The whole situation is ripe for the financial endgame and it has been for a couple years now.

Bob's picture

We may have a SkyNet situation, Sir!

andybev01's picture

The notion of "unscrambling eggs" isn't what they are talking about.

They want to throw out the eggs altogether and start with new ones.

macholatte's picture

to re-write all the laws so that things the banksers do that are technically legal to do are made illegal. 

what they do WAS illegal

Please review Glass-Steagall Act which was repealled by Clinton and the Gang of 3 (http://www.time.com/time/covers/0,16641,19990215,00.html

look here to start:

http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html

 

 

macholatte's picture

RE: Debt Forgiveness

Isn't there a well known procedure for that already in place called bankruptcy?

So what's to debate? What's with all the chatter? It ain't going to happen and that's the way it is unless a new and refreshing way to screw the tax payers is invented.

 

Right now I'm having amnesia and deja vu at the same time.
Steven Wright

 

lynnybee's picture

scam of the century / criminals of the year ........ print money out of thin air, charge interest / IT'S CALLED USERY .     & it's a deliberate take-down.    

john39's picture

good vids thanks.  He does seem to get it...  especially from a broader perspective that looks beyond economics. 

reader2010's picture

Damon Vrabel is the dude that put all this exellent body of work up on his web site.   Perhaps he got initimated by the Power ,and as the result he refused to publish any new stuff since January 2011. 

 

here is what he said:

 

http://csper.wordpress.com/

SirPlayomic's picture

Thanks for linking those, this guy is really speaking from the heart.

trav7777's picture

on the other side of all of those debts is someone treating that as income.

So wtf, you're going to fuck EVERYbody who was productive out of their savings while giving the freeloaders yet another pass, and the banksters get to walk away and keep all their commissions.

Repudiate the banks, not everyone else.

Highrev's picture

Moral Hazard raised to infinity!

("Repudiate the banks" and the freeloading debtors.)

Oh regional Indian's picture

Highrev, your avaatar picture always make sme smile. Always. :-)

I say Repudiate the system, Politics, Banking and Supermarket Food Chains for starters anyways.

Collectively, we can starve the beast. But collectively, we suck. Always greedy brothers and sisters to jump in and take advantage. Which si really why we are where we are.

I know some advertising types who think they are doing god's work too.

V

http://aadivaahan.wordpress.com/2011/08/30/humor-me/

GoinFawr's picture

Aren't the banksters composed mostly of old white males, your favoured demographic for the master race?

The acute dementia you suffer from must make coping day to day very difficult indeed, my sympathies.

A.W.E.S.O.M.-O 4000's picture

I think by "fuck everybody" he means the richest 1% of the planet

Incubus's picture

And that would be correct; we are units of labor--we are 'humanoids' that supply the 'humans' with the only thing we're good for: our labor. By design, your "common" man is but a creature that will never rise to the top tier of Maslow's hierarchy.  We consume and produce and exist for the sake of those who are "at the top."  We're concerned over things of no consequence; we're lesser animals that're domesticated in a social farm system.

You're born, you exist; you're conditioned by your relative social system, you work, you fuck, you create little future units of labor, you condition your little future units of labor, they start to work to support the system, and you're free to die.  That's your purpose--that's our purpose. 

GoinFawr's picture

I just knew I'd heard that somewhere before:

http://www.youtube.com/watch?v=krcNIWPkNzA

"You saved my life, and in return I'll spare yours... for now."-Jean-Baptiste Emanuel Zorg

sun tzu's picture

dem old whiteys beez racist n sheeit muhfug

Prometheus418's picture


"Aren't the banksters composed mostly of old white males, your favoured demographic for the master race?

The acute dementia you suffer from must make coping day to day very difficult indeed, my sympathies."

Please present a case in which modern society was not conceptualized, designed, and built by "old white males."  

I don't give a shit about "persecuting" anyone, but come on- let's have some credit where credit is due.  Just because other people did not do something is not a reason to demonize the people who did.  Tired of working myself to death so that others can feel they get their fucking welfare as a "right," because they think I did something that forced them to smoke dope and wear pants that don't fit instead of reading books and learning some manners (and yes, this sadly includes all kinds of white kids, too.)

SystemsGuy's picture

Repudiate the banks, repudiate everyone else. A jubilee is a reset - contracts get renegotiated, and as with any such negotiation, the rebalancing point will need to meet both the lender and the borrower's requirements. Lawyers make out like bandits for a few years, but for once they'll be earning their money facilitating the rebalance rather than making it worse. Jubilee doesn't mean that creditors lose everything, only that they will have to come to the table and will likely potentially lose some. As the creditors are the ones overall that have the advantage here, that's only reasonable. It also means that having secured better terms for their debt, borrowers are more legally obligated to pay off that debt - bankruptcy is likely not an option for several years.

Re-regulating the system would help here as well. The primary challenge that this economy faces is that risk has, through various financial shenanigans, been transferred from those taking the risk to those who benefit least from that risk when it goes bad. The purpose of regulation is to insure that the consequences of risk, good and bad, remain with those who take those risks. People who complain about government regulation fail to realize this very important role of the regulator.

The suggestions above make sense - renegotiate unfair contracts while insuring those who have taken those risks are responsible for their own actions. The creditor gets to keep what he's made, the debtor (as a risk taker) has a more realistic balance moving forward but cannot take back what he's already spent.

topcallingtroll's picture

I dont trust the people who will be appointed to be the deciders on what is fair and unfair debt.

sun tzu's picture

We're supposed to leave it up to lawyers to decide who gets what? During the process, the lawyers will grab a huge chunk of the assets for their work?  Sure, because we all know that lawyers are the most honest people out there and they couldn't be influenced by bribes and kickbacks. 

CrashisOptimistic's picture

Pretty much, t.

All these articles and comments looking for principal forgiveness never ever address handing money to people who paid off their mortgage.

These are just self serving drivel pieces that solve nothing.

A preliminary attack would be to declare activities to be fraud.  Fraud is the trigger for clawbacks under NY state law.

Until clawback enters the discussion, they arent' going to back off.

And until bullets start entering skulls, they aren't going to reverse anything.

AE911Truth's picture

Dear trav777, ref: "on the other side of all of those debts is someone treating that as income.
So wtf, you're going to fuck EVERYbody who was productive out of their savings"

If you are on the other side of all those debts, GET OUT NOW, before you find yourself broke. Those debts can not be repaid.

caerus's picture

pain is my element as hate is thine;

ye rend me now: i care not.

Hugh_Jorgan's picture

It is nice to point out the obvious despicable fraud, but a blanket remedy like debt forgiveness is not equal justice. ESPECIALLY when we have a greedy entitlement class willing to kill for a new teat to suckle at. They are just as out of control as the filthy, thieving ruling class and there are A LOT more of them. The responsible moral people and their children in America will end up footing the bill for something ridiculous like this, mark these words. We MUST think carefully about what we ask for...

V10's picture

Be eaten by the bankster class, or be eaten by the welfare class.

Yeah, some choice...

JW n FL's picture

 

 

http://www.youtube.com/watch?v=JENWiSr3GkA&feature=player_detailpage#t=2s

________________________________________________________________________________________________

takeaction ,

my response to Mr. Answers.

"you should be the decider.. just like Bush!! you should decide who is and who is NOT worthy..

Children should be born with wisedom.. is what you are saying and they the chirldren should be shunned until are educated and at least 40 years old.

that will fix everything! You are Brilliant!"

Everyone has to be educated, no one is born with the knowledge needed to effect change in this pysop world.

People will grow at the speed allowable, they will comprehend as fast as they can..

There should only be support for any on the path no matter how far along they are or are not.

This semi-perfection that is needed before someone is worthy is poppycock!

JW n FL's picture

 

 

a real smart girl said these words the other day and they have stuck with me..

who's your farmer? _________________________

who's your banker? _________________________

where's your money? _______________________

http://www.youtube.com/watch?v=4Sti1xMOYj0

she warned of the housing problems.. she was the head of Department of Housing under Bush.

Fitts served as managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc., as Assistant Secretary of Housing and Federal Housing[1] Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, and was the president of Hamilton Securities Group, Inc., an investment bank and financial software developer.

http://en.wikipedia.org/wiki/Catherine_Austin_Fitts

Taint Boil's picture

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This guy has it right. Got screwed and screwed them back:

http://patrick.net/forum/?p=25968

(Sorry for always posting this but it is a funny story).

nope-1004's picture

 

 

This is why the ability to declare bankruptcy is so essential in the pursuit of both happiness and innovation.

Not in the vocab of the snake oil salesman.

MS7's picture

I tried to add a +1 but for some reason it is not working on your comment. (it works on other comments.) So let me just say I agree.

andybev01's picture

You're right.

I gave you a green flag for his comment.

 

Pass it on :-)

Seer's picture

We've essentially forgiven the debts by the banks, and look at what That's done!

Sorry, but as much as I think that this is the only way that things will end I'm not thinking that it does anything to set the tables for better social conduct (reducing the notion that one has to honor one's debts only encourages continued moral decline).

Bring the Gold's picture

The problem is that debt forgiveness or debt forgiveness by another name, inflation/bailouts, have thus far been one sided. Only the banks have been bailed out or had debts forgiven/inflated away. This of course is the road to tyranny.

A global debt reset on the other hand would have potential benefits. Certainly debt created through fraud should be forgiven and most of that is Joe 6-pack debt whether through pension funds getting screwed with MBS or fraudulently presented home loans where details where misrepresented by mortgage salesmen making commission.

Moral decline is a joke at this point. Moral decline is caused by the current status quo of Banksters defrauding with impunity and the protection of this behavior by the political class and related injustices by politicos. People want to whine about J6P moral decline not noticing that the rot started at the head of the fish not the tail.

trav7777's picture

what about ALL of the pensions all over who have been CONNED by the banksters into exchaging something real for a bogus debt that was all whitewashed by the rest of the banking racket?  And probably the pension manager or elected officials took a bribe to close the deal?

You have REAL counties and REAL cities selling REAL assets to fucking bankers to attempt to repay debts...but if the municipality defaults, the citizens who received no benefit from all the debt end up getting all the burden too.  And what about the muni bondholders on the other side, all the pensioners who traded real money to bankers for those bonds?

Iceland is a nation that refused to backstop the debts of its private bank and look at what the Euro powers have tried to do to them...

cossack55's picture

I love Iceland. Just wait till Katla speaks. Fuck the IMF, WB, ECB and the Fed.

trav7777's picture

I was just there actually.

Again, I saw an economic collapse that looked NOTHING WHATSOEVER like what the silver and canned ham stacking madmax morons predict one should look like.  I have a souvenir drawer now with lots of funny colored banknotes with lots of zeroes on them and I am YET to see anything resembling the starving zombie hordes that were supposed to be the inevitable outcome from this sort of thing.

The icelanders are putting up greenhouses to grow their own produce and selling tourism as hard as they can.