Beyond The Age Of Usury - The Great Deleveraging Scam
By EuroYank - Virginia Hoge On Monday, February 02, 2009 At 12:21 PM
As you read this, the American bailout is reaching epic and fatal proportions of more than 8 trillion and the worst is not over yet.
Actually, the current trends are already much worse than depression, though because of some banking toxic tricks and frauds, risks are being constantly shifted down the social ladder deteriorating the consumers purchasing power forever. There's nothing that can rescue the system as the crisis was built into the system itself.
Read *Money and the Crisis of Civilization
Although this has not been aired on any major TV broadcast, when the world Leaders got together to discuss our fate last, they admitted to being incapable of doing anything.
That we are all screwed. Global wealth destruction amounts to $27 trillion, and that is far from over.
Among many other terrifying recent events, discount window borrowing (from the Fed. Reserve) averaged a record $437.5 billion per day, and that is not included in the cumulative trillion package. Read *trillion package!
In a debt-based economy, competition translates into a great crash enhancer. Take this housing bubble, its engineers, which couldn't do anything to stop the infectious exuberance, figuring that market saturation would eventually have the last word.
This didn't prevent them from firmly believing that prices had some room to run up, and everybody competed to get the very last piece of the pie.
What is truly outrageous is that we boarded onto the Titanic because Credit Rating Agencies sold us triple AAA rated JUNK BONDS.
(Complex securities concocted by math geniuses and PhD types. The only problem is that they didn't have any data to rely on, and they did not go away because the profit stakes were too huge - the more triple AAA debt rating products on the market the more business they would get.)
What is truly outrageous is that we boarded onto the Titanic because Credit Rating Agencies sold us triple AAA rated JUNK BONDS.
(Complex securities concocted by math geniuses and PhD types. The only problem is that they didn't have any data to rely on, and they did not go away because the profit stakes were too huge - the more triple AAA debt rating products on the market the more business they would get.)The Federal Reserve Usury System
The global leverage is about $400 TRILLION or so, and the world Gross Domestic Product is less than $70 TRILLION. This big picture helps uncover the hidden goal of fractional banking and its ensuing elementary conclusion: that Fiat money, which is backed by confidence only, is designed to eliminate competition, one step at the time.
Now the new scheme is the global currency, which is going to consolidate the field of banking even further during/after the Great Deleveraging. By the way, deleverage is again one of those convoluted terms invented to mask reality. Deleverage means (partial or complete) destruction of the debt-vortex unfolding with a domino effect.
Intended Massive Bank Failures
These days, capitalism bashing runs high on the agenda of many pundits, and for which they blame in the name of evil - deregulation.
They deliberately neglected to consider - and report - that lobbies have militated restlessly to bypass them one way or another.This real estate bubble, now bringing the financial system on its knees, was made possible with the intended failure of regulation. It was regulated to be this way.
Yes, this was an original intent and it becomes crystal clear in
this Financial Crisis, that the elites have the habit to design laws for themselves; that is why the people get fooled every time they put faith into a ruling body. Every civilization's collapse precisely occurs because of that; yet people would rather think that what goes up must go down theory is beyond their control.
The delusion consists in persisting that hope is key for a real change. Indeed, did we really have to wait thousands of years to find ourselves confronted to with the current events, and finally admit why hope did absolutely nothing; that We The People neglected throughout the milennia to teach a generation to the next why debts and consumerism' aren't bedfellows.Obviously politicians never made it a specific educational platform for high school students.
Instead they institutionalize blind speculation and spending when times are good and then implement the bailout of their bankrupt thinking.
It thus becomes greatly ironic to listen to Sir Evelyn de Rothschild calling for action since the latter doesn't provide any solutions but altruistic half-truths and rants. For how long will this cynicism continue .
Sir Evelyn de Rothschild talks about the GLOBAL FINANCIAL CRISIS ...
Important Online Books
Charles Mackay described in his 1841 book, Extraordinary Popular Delusions and the Madness of Crowds, that what is happening today is nothing new.Read it online ...
*Extraordinary Popular Delusions and the Madness of Crowds
Read the views of
*Harvard's Kenneth Rogoff who has identified 148 crises since 1870 in which a country experienced a cumulative decline in gross domestic product (G.D.P.) of at least 10 percent.
Read Online ... *The Economic Consequences of the Peace by John Maynard Keynes 1919The Wall Streeters viewed themselves smarter that we are in this giga-mess. They banked on gullibility and it worked out as usual. Exactly, as usual. Charles Mackay described in his 1841 book, Extraordinary Popular Delusions and the Madness of Crowds, that what is happening today is nothing new.
There have been 148 crises over a 140 year period and people don't still get it? How couldn't this be an incentive to warn populations when bubbles are forming? Should we really believe Greenspan when he says the Fed can only identify a bubble when it has popped and only then intervene to clean up the mess?
The crowds are just too mesmerized by the 'Golden Boys' way of life to see the trap they keep falling into every now and then - confusing debts with assets and otherwise.
Now that it all becomes clearer, who will give charity WHEN 60% of the population becomes poor overnight and another 30% can barely survive? Meanwhile Businessweek praises the 50 Top American Givers without even asking where did charity lead us since the U.S Government found out that child hunger rose 50%. We are now staring into the abyss?
"The most hated sort of wealth getting and with the greatest reason, is usury, which makes a gain out of money itself and not from the natural object of it. For money was intended to be used in exchange but not to increase at interest. And this term interest, which means the birth of money from money is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth, this is the most unnatural." - Aristotle (1258b Politics)
From one extreme to the other: in the sweatshop parallel universe.
Read ....
*Chinese ready themselves for mass social unrest.
In a blunt statement, the chairman of China's largest sovereign wealth said that China won't rescue Western banks. There too, the government has decided to embark on a spending highway with £373 billion bail-out package, and this may also imply the eventual dumping of the nefarious US dollar already affecting the rich city of Dubai where speculators are throwing in the towel as a lending drought bursts the 'Desert Bubble'.
The most comedic element in this grand scale drama is the story of Donald Trump who sues the banks for $3 BILLION for having failed to foresee the housing collapse that is now damaging his reputation in order to avoid the $40 Million he owes in banking interests.
In the Vanity Fair December issue, a columnist wrote an extremely well articulated piece, which also reveals the latest estimate of jobs New York is going to lose, both on and off Wall Street, amounting to 160,000 to start with. Michael Shnayerson's intro reads like a hook scene:
... Even many of the wealthiest players are retrenching. Others, like the Lehman Brothers bankers who borrowed against their millions in stock, have lost everything. Hedge fund managers try to sell their luxury homes, while trophy wives are hocking their jewelry. Pain is being felt on St. Barth’s and at Sotheby’s, on benefit gala committees and at the East Hampton Airport, as the world of the Big Rich collapses, its culture in shock and its values in question.
Last week Bernanke said that he was not against the possibility to drive interest rates down to near zero if necessary but urged decisive action to protect the economy... the meaning of this can be found in the reason why Bernanke contemplates radical plans to inject cash directly into the economy - the nuclear option - to be used only when interest rates approach zero; an action seconded by President of the European Central Bank Jean-Claude Trichet, hinting in the press conference to announce the ECB's 75 basis point rate cut that it may also consider "nuclear options".
The term "nuclear" ought to be taken literally in this particular case. If a well known market guru such as Marc Farber didn't let himself be duped, it should scare the hell out of you.
In a recent CNBC interview, an outraged Farber calmly explained what the stakes were, as concluding that world central bankers were merely imploding the world economy...
Beyond The Age Of Usury
To be continued!
"The most hated sort of wealth getting and with the greatest reason, is usury, which makes a gain out of money itself and not from the natural object of it. For money was intended to be used in exchange but not to increase at interest. And this term interest, which means the birth of money from money is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth, this is the most unnatural." - Aristotle (1258b Politics)
Chinese Prepare For Unrest
From one extreme to the other: in the sweatshop parallel universe.Read ....
*Chinese ready themselves for mass social unrest.
In a blunt statement, the chairman of China's largest sovereign wealth said that China won't rescue Western banks. There too, the government has decided to embark on a spending highway with £373 billion bail-out package, and this may also imply the eventual dumping of the nefarious US dollar already affecting the rich city of Dubai where speculators are throwing in the towel as a lending drought bursts the 'Desert Bubble'.
The most comedic element in this grand scale drama is the story of Donald Trump who sues the banks for $3 BILLION for having failed to foresee the housing collapse that is now damaging his reputation in order to avoid the $40 Million he owes in banking interests.
In the Vanity Fair December issue, a columnist wrote an extremely well articulated piece, which also reveals the latest estimate of jobs New York is going to lose, both on and off Wall Street, amounting to 160,000 to start with. Michael Shnayerson's intro reads like a hook scene:... Even many of the wealthiest players are retrenching. Others, like the Lehman Brothers bankers who borrowed against their millions in stock, have lost everything. Hedge fund managers try to sell their luxury homes, while trophy wives are hocking their jewelry. Pain is being felt on St. Barth’s and at Sotheby’s, on benefit gala committees and at the East Hampton Airport, as the world of the Big Rich collapses, its culture in shock and its values in question.
Last week Bernanke said that he was not against the possibility to drive interest rates down to near zero if necessary but urged decisive action to protect the economy... the meaning of this can be found in the reason why Bernanke contemplates radical plans to inject cash directly into the economy - the nuclear option - to be used only when interest rates approach zero; an action seconded by President of the European Central Bank Jean-Claude Trichet, hinting in the press conference to announce the ECB's 75 basis point rate cut that it may also consider "nuclear options".
The term "nuclear" ought to be taken literally in this particular case. If a well known market guru such as Marc Farber didn't let himself be duped, it should scare the hell out of you.
In a recent CNBC interview, an outraged Farber calmly explained what the stakes were, as concluding that world central bankers were merely imploding the world economy...
Marc Faber - 2009 To Be Catastrophic
For Global Economy Videos Part1 & Part2
For Global Economy Videos Part1 & Part2
Beyond The Age Of Usury
Because the very premise of usury creates endless inflation, which in turn reduces the purchasing power, extreme materialism dismantles the fabric of societies: everybody prioritizes the need for cash to the detriment of communities, neglecting friends and family. This causes the goods and services to multiply endlessly since people are too busy to chase money - but what for in the end?
As for the corporations, they do not see any incentives in creating long-term perspectives: when loans are so easily available and knowing that more voracious competitors will borrow to take over whatever natural resources there is no time to lose!
Polluting nature, cartelizing the means of production, human exploitation, bribery, collusion to maximize earnings are not diseases but symptoms. This all highlights the gap between people's creativity and their needs.
We are truly heading toward a terrifying and inevitable crisis of civilization and this is our very last warning before being plunged into an era where money and food will be scarce for many years to come.
Wars may well be the only weapons of unethical governments if civil unrest on a large scale threatens their very existence; they will resort to armed conflicts which will have been financed by their taxpayers.
Yes, you got it: usury also allows killings and destruction to be a lot more devastating. Contrary to the popular belief, money is not the root of all evil but usury is.
Predictions Come True (2002-2009)
As for the corporations, they do not see any incentives in creating long-term perspectives: when loans are so easily available and knowing that more voracious competitors will borrow to take over whatever natural resources there is no time to lose!
Polluting nature, cartelizing the means of production, human exploitation, bribery, collusion to maximize earnings are not diseases but symptoms. This all highlights the gap between people's creativity and their needs.
We are truly heading toward a terrifying and inevitable crisis of civilization and this is our very last warning before being plunged into an era where money and food will be scarce for many years to come.Wars may well be the only weapons of unethical governments if civil unrest on a large scale threatens their very existence; they will resort to armed conflicts which will have been financed by their taxpayers.
Yes, you got it: usury also allows killings and destruction to be a lot more devastating. Contrary to the popular belief, money is not the root of all evil but usury is.
To be continued!
Hey Euro i love the new look, you did a good job. Its simple but yet very informative so you still get your point across. I am interested to know more about your story on the "pay day loans" because i have friends that do alot of business with them and i can see its quickly becoming a problem. Anyway thanks for sharing my friend its always good to see you.
The new template looks good. Your post is very interesting. I did not read all of it, I will return to finish reading your post. You have very informative information of which people need to know.
Well isn't our political and financial world just looking peachy today. Haha.
Good stuff. We need to get people to ask, "Where's the Interest?"
http://www.wherestheinterest.com
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Hi EuroYank,
My reaction to the theme change is mixed. You will scare fewer people away, but it is less foreboding. It's more optimistic (the flower and the sky blue). It depends upon your objectives/beliefs.
Questions (no pressure):
What is your position on the "stab in the back" idea?
What is your position on racism/ethnic bigotry?
Were you involved in Operation Phoenix in Vietnam?
Are you now a pacifist?
Are you an environmentalist?
Are you an adherent to the Austrian School of economics?
What happened to your huge community on MyBlogLog? I was trying to network with (friend) the members when it suddenly all disappeared.
If you've already dealt with these things, just supply a link(s) if you want. If you write a post to answer these things, just let me know where, when, ....
Statements:
I go further than do you in that I say money is inherently evil ("unrighteous mammon").
I'm also not opposed to fiat money any more than I'm against gold – since I'm opposed to both in the end when it comes to mediums of exchange (I hate mediums of exchange).
Also, I think the Roman Catholic Church has been a huge part of the problem rather than the solution. One of your videos showed the Pope as part of the power elite for instance. I agree with that, although I don't preclude a Pope one day seeing the whole light.
Blessings To All,
Tom Usher
Real Liberal Christian Church