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  • Danny B
    replied
    The credit super-cycle was coming to an end. You can't really blame Trump & Powell from goosing markets higher during the runup to the election. I previously stated that it would be a close race between collapse and the election date. Here are some headlines. You don't really need to read the whole article.

    :"Massive" Labor Income Losses Worldwide As Recovery Falters
    Global labor income plunged 10.7%, or $3.5 trillion"
    This is wage deflation that the CBs are fighting with stimulus. They have almost NO battle plan so, they will probably all follow the FED plan of direct deposits to individuals.
    Beijing On Edge: China's 2nd Largest Property Developer Plummets Amid Fears Of Imminent Liquidity Crisis
    sparking a crisis of confidence among creditors who’ve lent the world’s most indebted developer more than $120 billion."
    This is all part of Trump's hybrid war on China.

    Is Powell Sending An Even Louder Message: Fed Refuses To Resume Bond ETF Purchases Despite Slump
    The election is close. Powell is sending a message that stimulus to the rich is going to end.
    "Traders Get Whiplash After Fastest Ever Fund Flow Swing From Euphoria To Despair"
    Failure To Launch New Fiscal Stimulus Would Have Catastrophic Consequences For The US Economy

    "this has been the "strangest recession in history", one defined by a surge in personal income"
    "he massive fiscal stimulus unleashed by the US government led to the biggest surge in personal income in history..."
    "making government transfer payments an unheard of 30% of all personal income!"
    "So for all those who claim that the Fed is now (and has been for the past decade) subsidizing the 1%, that's true, but with every passing month, the government is also funding the daily life of an ever greater portion of America's poorest social segments."
    This is something that I have repeatedly pointed out.
    "The problem is that should this firehose of benefits slow - or close completely - the economic collapse that was mitigated drastically thanks to the covid fiscal stimulus, will come back with a horrific vengeance."
    https://www.zerohedge.com/markets/fa...ces-us-economy
    Who cares if the billionaires are $100 billion richer as long as you have food on your table?

    The new FED bank will attempt to channel money to people to spend rather than the old paradigm of channelling money to the upper loop to speculate. The PTB claimed that they needed this money to create jobs for the lower loop."

    GE, Headed By 'Jobs Czar,' Cutting 950 Workers In Pa.

    "Traders Get Whiplash After Fastest Ever Fund Flow Swing From Euphoria To Despair"
    This is a sign of things to come as Powell winds down stimulus to the upper loop.
    "
    US stocks see 3rd-biggest outflow in history as investors flee tech
    Sep. 25, 2020,"
    The crash is inevitable. The pension funds will crash completely. Powell will create currency deflation which will result in price deflation. People will receive cash directly from the FED to survive. The speculators can all eat do-do.

    Where did this all start? The Bretton Woods agreement was meant to stop war financing. BUT, the U.S. was "immune" because it had the reserve currency. Unfortunately, power attracts the corrupted. "They" learned that good money could be made on the Korean War. The war was protracted to make the profits protracted. This was the same model that was used for the Viet-Nam war where America was drug in using the justification of a mutual-defence treaty. This eventually cost so much that America was forced off the gold standard. Almost ALL of the subsequent currency expansion to fund evil was initiated by the abandonment of the gold standard.
    Here is an EXCELLENT article laying it all out,,, with a secondary link.
    https://www.peakprosperity.com/1971-...ed-everything/





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  • Danny B
    replied
    https://www.worldfinance.com/wealth-...mic-underbelly
    I added this link and, it erased everything.
    Original text.


    The bankers have ALWAYS followed their noses to the best investments. This is invariably war & drugs. Matt Taibbi writes about the drug angle.
    https://taibbi.substack.com/p/reveng...launderers-b84

    https://www.counterpunch.org/2013/01...nd-drug-money/

    Global banks are the financial services wing of the drug cartels
    https://www.theguardian.com/world/20...ney-laundering

    "To stop the types of behavior referenced in the piece, the government should take criminal actions against the people involved with the infractions. Instead of a slap on the wrist or a fine, which is like a parking ticket to the bank, there should be draconian punishments for offenders."
    https://www.forbes.com/sites/jackkel.../#c466c456b3f7

    If Trump & Powell can successfully convert the FED to a public bank, it will be the safest bank in the world. It has a printing press.
    Assuming that it gives low / free interest loans, retail banking will all move to the FED. 51% of Americans receive a check from the GOV but, it is channelled through the private banks. If all these funds are kept in a government bank, they will not pass through private banks. If people deposit their savings in a government bank, these deposits will NOT flow to the private banks. Assuming that the FED bank emulates the bank of North Dakota and, issues loans for consumption & investment, it will avoid issuing loans for speculation.

    In the case of HSBC, the stiffest penalty doled out to any individual for the biggest drug-money-laundering case in history — during which time HSBC had become the “preferred financial institution” of drug traffickers, according to the Justice Department — involved an agreement to “partially defer bonus compensation for its most senior executives.”

    As punishment, HSBC was assessed a fine of 1.9 billion — about four weeks’ worth of its pre-tax profits. No bank officials who were caught red-handed will be prosecuted or imprisoned.
    Russia is plagued by 4 major crime families.
    Israel is home to 10 major crime families.
    They all need to launder money. The banks have all proved to be willing partners.

    "He uses two southern Italian regions, Apulia and Basilicata, as a case study and estimates that the presence of the local mafia has decreased GDP per capita by 16 percent over a period of 30 years."
    "In 2009, the United Nations Office on Drugs and Crime (UNODC) estimated that transnational organised crime generates $870bn a year, which is close to around seven percent of the world’s merchandise exports.

    Of all the illegal exploits conducted by criminal organisations, drug trafficking remains the most popular and lucrative. UNODC estimates this trade has an annual value of around $320bn,"

    "We found that there is no commonly used approach to estimating the costs of crime. Researchers have estimated varying annual costs of crime in the United States that range from $690 billion to $3.41 trillion."
    https://blog.gao.gov/2017/11/29/how-...es-crime-cost/

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  • Danny B
    replied
    CONVERTING THE FED TO A PUBLIC BANK


    TRUMP HOSTILE TAKEOVER OF FEDERAL RESERVE
    Trump Takes Control of the Federal Reserve

    Trump took control of the Federal reserve and, quietly tasked Powell with converting it to a public bank. The FED has 200 PHDs on it's staff and funds many economics chairs at various universities. Hopefully, this is enough brainpower for the new federal public bank to avoid a lot of pitfalls.

    It also has the example of the State bank of North Dakota as a guide. This public bank has been in operation for many years and, has been very successful. The main difference being; The bank of North Dakota does not have a printing press. The bank of North Dakota does public-private partnerships with various private banks. It also deposits ALL State monies for it's internal use.
    The bank of North Dakota makes loans contingent on their being an identified income stream to service the loan. They make loans for investment, NOT speculation.

    The dollar has lost 97% of it's purchasing power because of price inflation. Currency & price inflation are the bread & butter of the investor (parasite) class.

    By off-shoring jobs they ensured that wage inflation would always fall far short of price inflation.
    The bankers create the principle but, NOT the interest to service a loan. The economy is always short of cash. There is plenty in the upper loop but, not for the workers. This keeps them working.
    We have again reached the point where people just can't pay their bills. Runaway automation has made it that much worse.


    The upper loop has lots of liquidity but, it doesn't flow to the workers.
    The Federal Reserve is currently trying to prop up markets until the election.
    Monster Rally: U.S. And Japan Pumping $10 Trillion Into Asset Bubbles

    Investors pull $25.8 billion from U.S. equity funds: BofA
    U.S. consumers built up an astounding $12.5 trillion in excess of savings from April through July, according to new research by Morgan Stanley

    GOV knows that people just can't afford to live in America. The FED is working to make sure that you don't get kicked out of your house.
    The Fed now owns over $2 trillion in mortgages, what else? – Mish
    If you want to see REAL problems, just cut off the food supply.
    9/25 Hunger in America, especially for children, has ‘skyrocketed’ – Intercept
    Giving money to people in need is reckoned to cause price inflation.
    9/24 Russell Napier on ‘monetary pyrotechnics’ and coming age of inflation – FS

    Previously, most inflation was in asset prices.
    Wages are a different story. They have been static.
    Sending money to people to survive doesn't have to be inflationary
    5 years ago, FED GOV was writing 80 million checks a month. 51% of Americans received a check from GOV. The number is higher today. The system has already been streamlined using plastic instead of food stamps and checks. Moving to an individual personal account at the Federal Reserve bank would streamline things even more.

    Market Watch, "The next stimulus package must extend the unemployment benefit and provide a recurring guaranteed income of $2,000 per month, create free bank accounts at the Federal Reserve — “Fed Accounts” — for every American,"
    From the Cleveland FED;
    central bank digital currency (CBDC). Legislation has proposed that each American have an account at the Fed in which digital dollars could be deposited, as liabilities of the Federal Reserve Banks, which could be used for emergency payments. Other proposals would create a new payments instrument, digital cash, which would be just like the physical currency issued by central banks today, but in a digital form and, potentially, without the anonymity of physical currency. Depending on how these currencies are designed, central banks could support them without the need for commercial bank involvement"
    no need for commercial bank involvement.
    https://www.clevelandfed.org/en/news...-pandemic.aspx

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  • BroMikey
    replied

    Who controls [wields significant influence] re: the 'Clinton' [D] party?
    https://wikileaks.org/clinton-emails/emailid/22919
    https://wikileaks.org/clinton-emails/emailid/24651
    Who controls [wields significant influence] re: the 'Hussein' [D] party?
    https://wikileaks.org/clinton-emails/emailid/30480
    Different factions of foreign [primary] control?
    Who paid _Hussein's Harvard Law Degree?
    Who financed _Hussein's political life?
    Who is Prince Al-Waleed bin Talal?
    Why are Hussein's school records under seal?
    Competing factions [each with a horse in the race] seeking direct WH control [+USMIL][+Trillions _overseas transfer of US taxpayer funds]?
    All working together [coordinated][infiltration not invasion][VJ _HA].
    What happens to US taxpayer funds transferred overseas under guise of AID, MIL, CLIMATE, etc.?
    US taxpayers funding the destruction of America?
    Q



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  • BroMikey
    replied
    1569941325cfce58da4dfdc9667f98b2a0f07ed0c4d0f69723a1fcf41ebf703f.jpg

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  • Danny B
    replied

    Ronald Reagan famously said, "if it moves tax it... if it doesn't move, subsidize it"

    Keynes said, "We need perpetual stimulation through perpetual war."

    FED GOV pumped in $trillions through the banks and arms industry. The idea was; there would be a trickle-down to the working man. There was a trickle-down in wages BUT, it was offset by even faster inflation of prices.

    The FED was created in 1913 and, the economy crashed 16 years later. The bankers scooped up every dollar to speculate on everything. The Glass-Steagal act of 1932 separated investment banking from retail banking so that the speculators wouldn't have your money to buy up everything and "front run" your every purchase.

    "November 1999, President Bill Clinton publicly declared "the Glass–Steagall law is no longer appropriate"

    1999 Gramm–Leach–Bliley Act (GLBA), which repealed the two provisions restricting
    Regulatory capture brought us crony capitalism that was a very close cousin to outright fascism.

    Then came Trump, From X22;
    "Donald Trump has just taken over the Federal Reserve ....dare Isay it? "IN A HOSTILE TAKEOVER.....:-) He has just cut off the Cabals money (cut their balls off) and changed the entire worlds monetary system with one blow. Our central bank as well as everyone else's will HAVE to change"

    Historically, State stimulus was channeled through the bond market & banks first. Once Trump got control of the FED, he put them to work figuring out how to destroy the private banks. 50% of the cost of everything that you buy is for interest expense. The FED now has a comprehensive plan to bypass the bankers.
    In Unprecedented Monetary Overhaul, The Fed Is Preparing To Deposit "Digital Dollars" Directly To "Each American"

    https://www.zerohedge.com/markets/lo...-each-american

    The article states very clearly that the banks will be "disintermediated"

    The article and comments scream about high inflation of prices because of all the free money circulating. There was recently TONS of free money circulating in the UPPER loop of the economy and, it created enormous inflation in the upper loop. Shifting this stimulus to the lower loop will increase consumption but, it will not increase speculation.

    Price inflation is often caused by too much money chasing too few goods. The stimulation of the upper loop caused price inflation of asset prices. It trickled down as price inflation at the same time that wages were static.
    Previously, the FED was able to create new liquidity but, it was not able to direct where the money flowed.
    If each and every person has an account at the FED, the FED can easily control where the money flows.

    The markets are re-tracing the dot com crash in their movements.
    https://www.marketwatch.com/story/th...article_inline

    9/24 Stimulus checks: House Democrats push to renew second $1,200 effort – CNBC
    Too clunky and cumbersome.
    Sovereign debt is crashing and;
    9/24 Australia’s “eye popping” budget deficit and public debt blow out – Share Cafe

    Australia has an eye popping lockdown to prepare for debt default.
    9/24 New Jersey’s debt of nearly $58,000 per taxpayer is nation’s highest – ForbesYeah, with socialism, you run out of people to pay the bills.

    870,000 Americans Filed For First-Time Unemployment Benefits Last Week
    One of the many things that just can't go on.
    The States have slid into socialism but, they don't have a printing press.
    https://www.zerohedge.com/political/...ay-their-bills

    The stock market has given up all it's gains for the year. The default cascade won't be held off very much longer.
    FED GOV MUST have some kind of plan in place to get money to people to survive.
    5.1 million starved to death in Great Depression One when 44% of Americans lived on a farm.
    125 million Americans received a stimulus check in a test to see just how a direct-stimulus system would work. Too much stimulus,,, nobody goes to work. Too little stimulus, everybody riots.

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  • Danny B
    replied

    The PTB are well aware that automation leaves very little for the working man to do. The Great Reset is an attempt to change every facet of the whole system. "They" talk about social justice and equality. Mother nature does not do equality. She pushes improvement and culling. Socialism attempts to prevent culling of people who contribute nothing to the general well being of society as a whole.
    In a general sense, society is managed and coordinated by the State.
    Armstrong, "Governments are simply incapable of proper management of society, for every action they take is to retain their own power. They will not act in the self-interest of the people or the nation. It is not that they may even do this in a knowing manner. They simply think they are preserving the nation when that to them is government."
    Armstrong claims that all this lockdown mess is an attempt to maintain & preserve control in the face of a coming sovereign bond default.
    https://www.armstrongeconomics.com/i...ower-underway/

    Socialism always bankrupts a country. Will world socialism bankrupt the world?
    Hundreds of millions of bureaucrats "work" for the government. Most of they would not be qualified for their current salaries if they worked in the private sector.
    Parkinson's Law says that their numbers grow by 6% a year.
    It is the NON-producers who demand an elastic currency. The farmer doesn't need speculation & currency inflation to survive.
    It is the beggars, bankers and bureaucrats that depend on the theft of inflationary policies.

    A fiat currency is the hallmark & requisite of a State that ventures too far into welfare & warfare. A gold standard limits both of these aberrations.
    The demands of most Western States for welfare & warfare were previously met with the "inflation tax". A gold standard severely limits the inflation tax. A fiat currency is necessary. In our current situation, the demands of government-sponsored welfare have out-stripped the ability of an inflated fiat currency to meet all those demands.
    A digital currency is seen as the answer to finance the new socialism (The grossly inflated rolls of State dependents.)
    Armstrong strongly predicts a crash of sovereign bonds. This implies a crash of State support for the new socialism.
    Can digital currency manipulations be substituted for sovereign bonds? Can the new socialism be financed by the creation of super-elastic digital currency without creating hyperinflation?

    Armstrong, "Who knows what the Deep State has in mind. Our model does not look well post-2022"
    https://www.armstrongeconomics.com/i...-behind-biden/

    Armstrong, "The Monetary Crisis Cycle & Sovereign Debt Crisis. Granted, they may be doing this because of our models, but only because they are also trapped by their negative interest rates and cannot raise them anymore. The central banks are screaming behind the curtain, “Hey, this isn’t working!” I warned that Big Bang would begin 2015.75. Indeed, the ECB moved to negative interest rates in 2014. They never considered what would happen it that experiment failed."
    https://www.armstrongeconomics.com/i...ower-underway/

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  • Danny B
    replied
    J. M. Keynes said that we would be so rich in the future that we would only have to work for 15 hours a week. This would bring complete stagnation of society if we just sat around all the time.
    Shumpeter proposed "creative destruction" as a way to keep us working. Keynes proposed perpetual war to keep the economy forever stimulated.
    We build stuff and then, blow it up. Hot war got too dangerous so, we have cold wars. We build lots of bases and weapons and, abandon them.
    This plan necessitates that we have credible enemies to keep us employed preparing for war.
    This plan necessitates continual high taxes to steal our income and, keep us working.
    How long do we work for the government every year?
    USA: 105 days
    United Kingdom: 148 days
    Canada: 164 days
    France: 209 days
    Fascinating list; https://www.lovemoney.com/gallerylis...ay-their-taxes

    U.S. GOV is so wealthy that it doesn't need to collect taxes. They report this fact every year.
    http://cafr1.com/

    "Factoring in federal, state and local taxes, those ultra-wealthy households pay a total rate of about 23% — that compares with just over 24% for the bottom half of households."
    Yep, the riches families don't actually produce anything. If they don't show up for work, nobody notices. If the actual producers don't show up, everything falls apart.
    This is one of the main facets of the stimulus programs. Too much stimulus and, everybody stops working.
    The departure from the gold standard allowed the bankers to make inflation run "hot" at the same time, that wage increases ran cold.
    The bankers motto, "keep them working".

    There is much discussion to reverse all this inequality that kept us working.
    https://www.zerohedge.com/markets/bi...uality-overdue

    The French work for the State for 209 days a year.
    The French GOV spends 54% of the gdp.
    Socialism is expensive.

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  • BroMikey
    replied

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  • Danny B
    replied
    https://newrepublic.com/article/1540...-fascism-today
    I added this link and, erased ALL the text. I think I have it saved in mail. The post had been up for hours but, this link erased it.


    The ultimate blowup of class war in America.

    Historically, a corporation was created as a temporary construct for a certain, specific project. When corporations became permanent bodies, They were forced / incentivised to compete with everything else. The corporation become immortal and, immune from prosecution. Regulatory capture made the corporation (eventually) more powerful than the State.
    As far as the common man, the corporation constantly fought against organized labor. The wealth created by the worker was channelled into stock dividends rather than wages.
    As wages diminished, procreation diminished. The worker was no longer able to supply his replacement in the production line. At the same time, the low birth rate and low wages meant that overall consumption diminished. The State was harnessed to produce forever wars to boost consumption. The working man was increasingly taxed to finance wars / increase consumption. This further diminished consumption and procreation.
    Production was outsourced to give the working man more affordable prices and, pay bigger corporate dividends. BUT, the job losses further diminished consumption and procreation.
    The operational system became more fascist as it accumulated more regulatory capture. Free-market capitalism gradually morphed into fascism that has been painted as "crony capitalism".
    Mussolini said that Fascism was a marriage between BIG GOV and BIG business. Regulatory capture makes this a convenient arrangement. After all, both the banks and the State are parasites.


    We have fallen into a system where the parasites take everything. The slowly emerging problem is; the parasites depend a regular extraction of wealth from normal economic activity. This wealth is siphoned out as,,, taxes & interest.

    The working man has been losing ground since just after we abandoned the gold standard in 1971. Charles Hugh Smith writes very clearly about the economy becoming extractive rather than cooperative. Wages diminished. Consumption contracted and, was only rescued by grossly increased credit. Increased consumption was only maintained by creating sequential credit bubbles.

    The CBs intend to do whatever it takes to hold back deflation.
    Stockman, "Uncle Sam will spend $6.6 trillion during the current fiscal year (FY 2020) while collecting only $3.3 trillion in revenue."
    The CBs are pumping in $trillions trying to prop up everything. It takes more than just liquidity. Monetary velocity has crashed.

    Powell, "the ten-year, eight-month expansion, the longest in our recorded history, it included an awful lot of quantitative easing and low rates for seven years. And I would say it was notable for the lack of the emergence of some sort of a financial bubble, a housing bubble or some kind of a bubble - the popping of which could threaten the expansion. That didn’t happen."

    Stockman, "the Fed printed $3 trillion in three months, and Wall Street drove the S&P 500 to 52X reported LTM earnings in the context of a deeper economic plunge than occurred in the worst quarter of the 1930s."

    Powell claims that there aren't any bubbles. This deep economic plunge is; deflationary forces trying to escape control. I suspect that "they" can hold back the tide until the election. Printing $ 3 trillion in 3 months can't go on forever. "They" set off the lockdown to try to advance the "great reset". It appears that they have been successful in blowing things up. Powell is hard at work to glue things together for a bit longer.







    Last edited by Danny B; 09-20-2020, 09:56 PM. Reason: mis-smelling

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  • Danny B
    replied
    Mikey, since you're writing about the CCP, I have some news for you.
    https://www.newsx.com/world/pla-vete...dissident.html

    https://tfipost.com/2020/08/xi-is-a-...lls-the-beans/

    https://www.youtube.com/watch?v=EVeoKW96DME

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  • BroMikey
    replied

    Leave a comment:


  • BroMikey
    replied
    Puppet masters CCP (Control & Command, Positions)

    MADE in CHINA

    Right click "VIEW IMAGE"

    chinas-great-wall-of-murder-ben-garrison-cartoon-2.jpg

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  • Danny B
    replied
    The welfare-warfare Statists from the mid-60s forced the closure of the gold window by Nixon in August of 1971. Remember that it is the Parasites who are most in favor of an elastic currency. The producers don't want the value of their work stolen by currency devaluation. The bureaucrats and bankers live & breathe currency inflation. The "State" may look like a governing body but, it is just a growing horde of parasites.

    ap·pa·rat·chik

    /ˌäpəˈräCHik/

    noun
    plural noun: apparatchiks
    • historical
      a member of a Communist Party apparat.
      • derogatory•humorous
        an official in a large political organization.
        "Tory apparatchiks"
    Parkinsons Law states that this bureaucracy will grow by 6% a year. The money to pay them has to come from somewhere. You work about 1/3 of the year to pay all your taxes.

    Next, we suffer the burden of carrying the bankers. The gold window was closed in summer of 1971. By about 1974, our financial system switched over from being cooperative to extractive. The little guys got screwed by the millions.
    http://charleshughsmith.blogspot.com...ne-for-me.html

    Once again, the rich got the laws they needed to fleece everybody.
    New research published Monday found that the top 1% of U.S. income earners have taken $50 trillion from the bottom 90% over the past several decades, and that the median worker salary would be around twice as high today as it was in 1945 if pay had kept pace with economic output over that period.

    The study’s authors, Carter C. Price and Kathryn Edwards of the RAND Corporation, examined income distribution and economic growth in the United States from 1945 to the present. The researchers found stark differences between income distribution from 1945 to 1974 and 1975 to 2018.
    https://www.wakingtimes.com/2020/09/...a6d87-54347961

    Our wages and consumptive power are gone. Wall Street is trying to maintain the value of high-priced assets when the necessary high wages are long gone.
    "They" see no end to stimulus to try to maintain these nose-bleed valuations.
    9/18 US Treasury & the Fed are partners in crime ripping off Americans – RT
    Nobody can see a way to let Wall Street crash without it taking down Main Street.
    It remains to be seen just how this conundrum can keep going.

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  • Danny B
    replied
    5. From Winston Churchill:
    The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.
    Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy"
    Socialism has a 100% failure rate but, lots of people keep trying to make it work. WHY?
    Socialism results in the annihilation of motivation to produce.
    BUT, a large part of humanity do not possess motivation to be productive. They are only motivated to consume. Between inception and failure,,, these people are happy to live as parasites. Their numbers grow larger and larger. Their demands, greater and greater.
    As of 3 years ago, 51% of Americans received a check from GOV. The stimulus has increased those numbers.
    "How many Americans will get these payments? Roughly 125 million people will receive a check"

    The Central Banks have gone from war finance to social finance. They pump up zombie companies to keep the employees working. They prop up all markets to keep confidence going. It remains to be seen just how long this can go on. How many millions of people is the FED propping up? The FED has long focused on productivity and, for the most part, ignored consumption. That is all changing. Now, that C/V has popped the employment bubble, the FED is much more focused on Employment.

    All the hundreds of millions of people who are not part of the productive economy are looking for a new age,,, a new dawn,,, the Great Reset. They have championed the cause of socialism to put bread on their tables.
    The government workers, the bankers and the bureaucrats are all espousing the cause of higher taxes and electronic money. Socialism always crashes financially. Can digital currency change this paradigm? Will digital money reduce the number of parasites?
    Parkinson's Law states that a gov bureaucracy will grow by 6% a year regardless of work load. At what point does the parasitic drain become too much? Can digital currency change the outcome?
    A gold standard prohibits runaway currency expansion and runaway government. It acts the same on bankers who live & breathe currency inflation.
    Bankers & bureaucrats are only looking out for themselves. You are naive to believe that the State cares about you,,, outside of your role as a "tax donkey"

    You work 1/3 of the year to pay your taxes. 50% of the cost of anything that you buy is for finance. 19% for trash collection,,, 78% for public housing,,, 50% average. Do you think that GOV and bankers have any concerns for you.?
    It wasn't always like that.
    Charles Hugh Smith;
    "My 50 years of work have given me a ringside seat in how the economy has changed from inclusive to extractive.
    My colleague Mark Jeftovic explains how systems can be inclusive or extractive. Systems that automatically bail out the greediest, wealthiest socially-useless speculators via the Federal Reserve are not just extractive, they're exploitive and predatory. The Reversion Will be Mean.
    The economy was not dependent on endless asset bubbles and bailouts of the most venal speculators. The Federal Reserve whines that it has to bail out the greediest scum of the nation again and again and inflate one asset bubble after another because otherwise this sucker's going down."
    Greenspan started us down that road.

    "Now costs and regulatory burdens have soared to crushing levels. This plays perfectly to government bureaucracies, which have monopolies on the power to raise junk fees, penalties, etc. at will, and Corporate America, whose core drive is eliminate any and all competition so profits can soar on the basis of monopoly, not on superior products or services."
    Once again, all the wealth flows to paper-pushers.
    "Can we be honest for a change and admit that ours is an extractive system in which anything goes for the wealthy and powerful and winners take most?"
    EXCELLENT ARTICLE
    http://charleshughsmith.blogspot.com...ew-system.html

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