When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes... Money has no motherland; financiers are without patriotism and without decency; their sole object is gain." - Napoleon Bonaparte, 1815
Many of you surely remember that in 2008, the world elites urged a coordinated action to tackle the threatening down turn, plunging their respective countries deeper into debt to give the bankers an unlimited amount of blank checks, while convincing taxpayers to foot the bill under the guise of acting to save their jobs. Now that the bailouts' side effects are spreading like wild-fire and have obviously become global, the odds are setting us up for a day of reckoning the like of which has never been seen. Liquidation of the Western middle class is unavoidable; let alone the developing countries: for them it will be a lot worse as they have borrowed (from now bankrupt empires) since the end of the colonies. They earned not their independence but a colonization of another kind. If there is no major wake-up call, the entire planet will be left in the hands of a few fascist banks and corporations at the head of a World Government. The wolves in sheep clothing have worked on this for more than 300 years. Money doesn't mean anything to them, but power. This said, it is useful to mention that the system we now have was invented by the Chinese, and began with the Song (960-1279) dynasty. In fifty years from 1260 to 1309 Yuan's paper money was depreciated by 1000 percent!
Former Federal Reserve Chairman, Alan Greenspan: "We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power" - February 15, 2005
Back to present: even the so-called rich Arab emirates, Kuwait and particularly Duba, won't be spared either as they have sold out their oil in exchange of usurious loans for more they can endure and caved in favor of the Military Industrial Complex. Dubai is a good example: it is a city born out of the sands in less than one generation and today features architectural marvels. Then came the housing crash without any warning. Last year bad debtors, Western real estate flippers for the most part, were fleeing at the speed of light, a jail time sentence awaiting those who cannot repay.
Bubbles have dotted human history and the latest world bailout bubble marks the beginning of the end. It is about time to acknowledge that globalization will never bring forth anything worthy. Since frameworks are corrupt to begin with, the financial top bodies have always been designed for a monumental takeover: economic hegemony worked its way through insidiously. Those who issue the loans are ruling currencies and thus our lives. They sold us an illusion of democracy while proclaiming our rights to Freedom using "focus groups" to study humans' unconscious desires and exploit them. The Century of The Self offered a twisted version the 'pursuit of happiness'. The nature of the trap is now blatant: the IMF austerity packages are about to become the norm to address this economic decadence. Early March, IMF Dominique Strauss-Kahn has called for new power and expects the Fund to become the world Federal Reserve. But they have more rabbits coming out of their hats such as implementing the global warming bill designed to squeeze $45 trillion out of taxpayers' wallets and other population control agendas under the pretense of mass vaccinations and other subterfuges. Though for anyone wiling to analyze the root causes, there is no egg-chicken dilemma whatsoever. Before we can even assess that there're way too many of us on earth, we ought to consider fraudulent monetary policies that give the impression that we can no longer feed people. It is the crippling inflation, which has put us in this giant mess. Of course, overpopulation theorists will never question this. The stakes are definitely too high, power is addictive and fear is needed to obtain citizens' consent under the guise of saving the job market.
CBS Market Watch columnist Paul Farrell' s assessment is pretty dire to say the least, as it cites 20 reasons that will detonate the Global Debt Time Bomb. His very article was inspired by a Forbes story explaining how this plot of Global Asset Bubble threat could wreck our lives when massive debts come due. Indeed, the dreaded idea of sinking into Depression Part II has become conventional wisdom. As of Mach 26, there were almost 80% Americans said that U.S. economy could collapse. Keeping the bubble afloat no matter what. No April Fool this time that needs to be reported in the news. Reality is beyond fiction: Obama urged Congress to come to its senses, alluding that the country would face bankruptcy if the healthcare makeover was rejected.
Additionally - the Euro Block fearing a contagion was still debating whether to rescue Greece while Hedge funds' bets against the euro has risen amid growing apprehension of a backlash against their trading positions. Luckily for the hedge funds,on the Bloomberg site at the end of March, it was announced that Europe would provide more than half the loans and the Washington-based IMF the rest if needed. Of course by IMF, they mean the American taxpayers. If this measure is planned, it will be implemented. Ambrose Evans-Pritchard, from the telegraph.uk, alluding to the Uruguay-INF controlled 2003 default, reported that the deputy-governor of China's central bank regards Greece as the 'tip of the iceberg'. And there is more, the Block recommended to hedge existing investments with insurances against default of a debt instrument. Among those huge Hedge Funds, we find that of George Soros who parades as a gold bug. Right, amid all this turmoil gold and silver prices have room to move a lot higher. However, selling more derivatives products cannot be the answer as the whole financial structure comes down to a mega debt-laden-Ponzi scheme. Doing so will delay the Great Reckoning, while making it a lot worse. Interestingly, as of March 2, the Wall Street Journal reported that the US Justice Dept. has launched a probe into whether hedge funds might have acted together to doom the euro. What a circus! Anyone knowledgeable enough to grasp the flaws of our system, the pump and dump cycles more precisely, will just use a hedge fund at his advantage. A probe is even more ludicrous since regulators allowed Hedge Funds to come into existence; they are the ones who didn't foresee anything wrong with betting on failure in the first place. It is thus hard to believe that derivative traders, selling insurance against risk, have never seen any danger coming either; their exotic instruments are today responsible for more than a quadrillion dollars in notional value. Soon, we'll read how fictive this value was since global indebtedness is at least ten times bigger than the planetary GDP. This is the theater of the absurd: this very quadrillion is a mere virtual amount and represents a bet on doomsday with notes backed by a promise to pay. Ironically, the architects of such a framework are individuals who ask us to trust them. Yet many will find hard to believe in a 'conspiracy', alas there is no way around. S&P, Fitch and Moody were totally co-conspirators of Fat Cat Bankers, misleading investors and consumers before the meltdown. Think of what those rating agencies will do to people's credit rating after the demise. If one still disagrees with this, then one has to admit that the heads at the rating agencies, again the same behind the invention of 'credit scores', are just plain stupid. Whatever your take on it, our fate is either in the hands of a bunch of criminal idiots or intentional financial terrorists. Many Keynesian columnists don't get it or just go along with the system because they are paid richly. Germany must save less and consume more, a headline in the times.uk concludes. The spend and die (read: spend and die anyway) mode now is encouraged.
As a global geopolitical dislocation is taking root, fractional banking has begun to be under attack, and it is not without reason. Usury is the root of all evil. Because every banknote is an IOU, the financial system demands the creation of more debts to be able to pay the interests: that is why the major big banks, Goldman Sachs leading the pack, have engaged in a plot to raise the debt limits throughout the World. Now their 'meme schemes' is unraveling, we find ourselves drawn in a cesspool of fraudulent monetary policies. Wasn't the Euro currency supposed to bring equilibrium? Brussels is caught in a bind and will eventually reveal its true colors as countries like Portugal, Italy, Spain, Ireland (whose banks need a $43bn injection for appalling lending) and the British Kingdom are on the same trajectory of that of Iceland before it went belly up. Here they are, awaiting an IMF review as they already have received a $2BN rescue package from the fincnial body, a Reuters headline recently read. Greece will have to default "at some point,' UBS's Donovan said on March 24, 2010. EU is on the brink of a Debt War. The most appalling came from the German parliament in Chancellor Angela Merkel who suggested that Greece should consider selling some of its islands as one option to reduce debt! Selling to whom, the European Central Bank?