Predators
and parasites recently gathered in Davos to discuss the mounting problems of
their prey. All present agreed the problem needed urgent attention.
Historian David
Hackett Fisher describes this passing era as the period of Victorian
Equilibrium. England’s Victorian Equilibrium, however, was built on
banker’s credit, a foundation of sand; and like the story of Cinderella
where the carriage turns into a pumpkin at midnight, the banker’s
credit has now turned into defaulting debt and the fairy-tale world it built
is collapsing.
Lies, lies and more lies
On February 5th,
a Bloomberg headline reported: US Economy, Unemployment Unexpected Falls
To 9.7%. Bloomberg’s headline was attempting to convey a
more positive outlook for those considering additional borrowings to help
restart the banker’s stalled engine of credit and debt (their
credit and your debt); but the following chart tells the real story
about US unemployment, a far different version than the optimistic story
being spun by Bloomberg:
Note: If you
still listen to, read or watch mainstream media for your news, you could
believe any or all of the following: (1) the “recession” is over,
(2) Iraq had weapons of mass destruction, (3) 9-11 was the work of terrorists
and (4) Lee Harvey Oswald killed JFK. If you believe any of the above, you
don’t need sleep aids as you are sleeping quite well on your own.
http://www.calculatedriskblog.com/2010/02/emp...bs-lost-97.html
The real US
unemployment picture is one reason why the parasites and predators who gather
in Davos are so concerned. Their 300 year-old system of credit and debt
concocted to drain the productivity of others has succeeded beyond their
wildest dreams; but it has come at a cost—their host, society, upon
which their profits depend is now collapsing.
Their concern is
genuine, similar to that of plantation owners whose slaves are falling prey
to disease and death brought on by age and overwork. That such was inevitable
did not occur to them so inured were they from living off the labor of
others; and, now, while their dilemma is obvious the solution is not.
Were it not for
the trillions of dollars of government aid in 2009, the global banking system
would have already collapsed and the world would again be deep in the throes
of another depression, where credit-driven demand sinks in an ocean of debt
and settles on the bottom where it slowly drowns.
But the collapse
has not been averted, it has only been delayed. The trillions of dollars
spent to postpone the day of reckoning were borrowed and soon the bill will
be proffered and payment demanded for having done so.
Despite the
apparent resolve of those attending Davos, there is no way out except
complete systemic collapse. All beginnings have endings and the end of the
three hundred year system of economic slavery by credit and debt has arrived.
THE DAYS OF YORE
ARE NO MORE
In the not too
distant past, the punchbowls at Davos were overflowing with Dom Perignon,
bankers were celebrating billion-dollar bonuses and tall high-priced call
girls were as common as the short wealthy men who paid them The reason for
such exuberant celebration is clear. The following chart shows why:
Beginning in
1990, the profits of the financial sector began to increase relative to the
rest of the economy. This, of course, did not happen by accident. It happened
because Alan Greenspan, the maestro of America’s demise, began
to allow Wall Street more “freedom” during his tenure as Fed
chairman; and, as we all know, freedom is a good thing—except, of
course, when, in the name of freedom and free markets you turn the keys to
the country over to thieves and robbers for ideological reasons, e.g.
Republicans, and financial contributions, e g. Democrats.
This is what
happened when Bill Clinton sold out America to the bankers. Because Wall
Street already owned the Republicans, when Bill Clinton and the Democrats
entered into their time-share agreement with the bankers, the fate of America
was sealed.
Under the tenure
of “Easy Al” Greenspan who never saw a problem easy credit
couldn’t delay and the “welcome to the henhouse” policy
extended by Bill Clinton to Goldman Sachs and their Wall Street cohorts, the
stage was set for the climactic economic gang-bang of America that was to
happen under Republican George Bush, Jr.
It was truly a
bipartisan effort where both Republicans and Democrats united to give Wall
Street carte-blanche to bet and lose the savings of Americans and allow
bankers to obscenely profit no matter the outcome of their bets.
CELEBRATION DAVOS
2007
CONCERN DAVOS
2008
SHOCK DAVOS 2009
FEAR DAVOS 2010
The days of
ostentatious celebration at Davos are over. Attending bankers and politicians
are no longer smug and confident, their arrogance now replaced by vacillating
indecision and enervating fear; and, today, if they don’t use enough
deodorant, most would be politely asked to leave public areas. In Davos,
despite its lofty altitude, the smell of change is in the air and it
isn’t pleasant.
The present
system of debt-based money and debt-based markets introduced by
England’s bankers in 1694 is beyond redemption. Paul Volker, the hero
of the 1980 clampdown on credit which gave capitalism one last putsch
(1982-2007), has suggested reforming the banking sector in order to extend
their now flagging run; and, as much as its victims would wish for it to
succeed, it won’t. It’s too little, too late. The pumpkin is
already waiting outside.
DO YOU KNOW WHERE
YOUR CENTRAL BANKER IS?
Just five days
after the bankers left Davos, the world’s top central bankers secretly
reconvened in Sydney, Australia to discuss in emergency session the
deterioration of global financial markets. On February 6th the
Australian news media reported:
Representatives
from 24 central banks and monetary authorities including the US Federal
Reserve and European Central Bank landed in Sydney to meet..at a secret
location…the two-day talks are shrouded in secrecy with high-level
security believed to have been invoked by law enforcement agencies.
…Speculation
that the chairman of the US Federal Reserve, Dr. Ben Bernanke, would make an
appearance could not be confirmed…The event will be dominated by Asian
delegations and is expected to include governors of the Peoples Bank of
China, the Bank of Japan and the Reserve Bank of India…
The arrival of
the high-powered gathering coincided with a fresh meltdown on world
sharemarkets, sparked by renewed concerns about global growth and sovereign
debt…Fears countries including Greece, Portugal, Spain and Dubai could
default on debt repayments combined with disappointing US jobs data to spook
investors.
Australia's ASX
200 slumped 2.4 per cent…echoing a sharp fall on Wall
Street…Asian share markets were also pummeled, with Japan's Nikkei 225
down almost 3 per cent and Hong Kong's Hang Seng slumping 3.3 per
cent…The damage was also being felt by European markets last night with
London's FTSE 100 down sagging 1 per cent in early trade…Sovereign debt
fears rippled through to the Australian dollar which was hammered to a
four-month low of US86.43 and was trading at US86.77 cents last night.
“This does
feel like '08 and '07 all over again whereby we had these sort of little
fires pop up and they are supposedly contained but in reality they are not
quite contained”, said H3 Global Advisors chief executive Andrew
Kaleel…”Dubai should have been an isolated incident and now we
are seeing issues with Greece, Portugal and Spain.”
http://www.news.com.au/business/secret-summit-of-top-bankers/story-e6frfm1i-1225827289543
When
bankers began arriving in Sydney on Friday, one hour before markets closed in
New York, US markets began to suddenly rally in the last hour of trading to
close almost in positive territory, a suspicious sign of renewed market
intervention by the US plunge protection team.
That
western capital markets are subject to government intervention and
interference has been true for decades. When the house controls the
manufacture and supply of chips it matters little to the house if the gaming
tables are fixed or free; but, to the punters, as long as some come out
ahead, most don’t care.
When their
underwear is soiled, free-market advocates often become Keynesians
THE BREAKDOWN
If you are
reading this, the odds of you having been in Australia to attend the secret
meetings of central bankers are remote. Nonetheless, we do share something
with those who were inside eating and drinking on the public dime. Indeed,
our fates are intertwined and not in a good way.
All of us,
including the bankers, are in the above picture but we may not be where we
think we are. Nonetheless, it is an accurate depiction of the current
situation. The ship has hit an iceberg and is sinking. Only the time and
manner of its demise are still unknown.
Some hope the
ship can still be saved. It can’t. We are in the endgame predicted by
those who warned us; and now it is too late to do what could only have been
done before. We chose to do nothing and by so doing allowed the current
tragedy to happen.
The dawning
realization of what is happening has come too late to save the nation. The
warnings by America’s founding fathers were ignored by all and the
consequences are coming to pass as predicted.
America’s
military, the world’s largest standing army, drained America of its
once considerable wealth and private bankers have indebted the nation, its
businesses and citizens beyond their ability to repay. Thomas Jefferson
warned it could be so. We ignored his warnings and, now, it is too late.
The political
process has proven singularly inadequate to prevent the collapse of the
nation. Today, the political dialogue in America resembles a bitter domestic
dispute in which the entire family will lose.
WHERE ARE YOU?
Hoping for
change, Americans voted for Barack Obama and instead got more of the same,
the same foreign policy, the same bankers, the same problems. If voting
doesn’t lead to change, the question then becomes, what will?
Of
Dingleberries*, Presidents and Things
The
President to the dingleberry did say
Please
stick with me the rest of the way
And
you will certainly find
That
all will be fine
If you
stay to the end of the day
The
dingleberry recalled
And
indeed was appalled
That
he’d heard such words before
From
the right and the left
They’d
left him bereft
Words
that could come from a whore
There
does come a time
When
the light finally shines
In
even the darkest of places
That
no matter who wins
No
matter the spin
You’re
screwed by political races
So the
dingleberry did think
It was
beginning to stink
And
began to see where he had been
He
resembled a stool
Played
for a fool
And
saw the trouble he’s in
Unless
dingleberries unite
And
together do fight
The
politicians and banks who own them
At the
end of the day
Argue
they may
They
deserve the toilet that awaits ‘em
*Definition,
dingleberry din·gle·ber·ry (d ng g l-b r ). n. Vulgar
Slang. 1.
A piece of dried feces caught in the hair around the anus. 2. An incompetent,
foolish, or stupid person. ...
www.thefreedictionary.com/dingleberry
BETTER TIMES ARE
AHEAD
In March, 25-29
in Szombathely, Hungary, Professor Antal Fekete, I and others will discuss
the question, Is the Global Financial Crisis Really Over?; and, while
the question may be rhetorical, much depends on its resolution.(to attend,
contact GSUL@t-online.hu)
It is my opinion
that the crisis will end in a complete breakdown of the banker’s system
of credit and debt, a collapse so great that the past will become exactly
that, the past; and the future, when it does arrive, will be far different
than the present.
Historian David
Hackett Fisher wrote that all great epochs, e.g. feudal, renaissance,
enlightenment, etc. end in complete devastation and economic collapse. It
will be the same with the present epoch, the age of Victorian Equilibrium.
Fisher also noted that after the collapse of each era, another and, in many
respects, superior era took its place.
A new era and
better era can be expected; but, first, the bankers’ system of
fraudulent money must collapse. The good news is that it will. The bad news
is that when it does, hardship and suffering will result.
But suffering and
hardship must be seen in a larger context. Just as Buckminster Fuller
believed that mistakes are necessary for learning, crises are necessary for
growth. Had we a choice, we would avoid all crises and all mistakes; and, as
a consequence, all growth and all learning.
Emergence through
emergency
Buckminster Fuller
Buckminster
Fuller wrote in 1981 in The Critical Path…that mankind would
soon be entering a period of unprecedented crisis, a crisis universally
intended to bring about the transformation of humanity. If we could, we would
resist this crisis. But we can’t and since we can’t, let us
succeed.
The
transformation of humanity depends on us doing so.
Buy gold, buy
silver, have faith.
Darryl Robert
Schoon
www.survivethecrisis.com
www.drschoon.com
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