Great article by Damon Vrabel posted on Nathan’s Economic Edge (http://economicedge.blogspot.com/) regarding the recent SEC charges against Goldman Sachs. I have posted on my website some informative videos created by Damon regarding the current economic crisis and the new world order.
Damon is someone who understands the truth of what is happening and he has come to the correct conclusion:
“What is the end game? The ownership class is attempting to restructure the world under a new financial system.”
Here’s a link to the article:
http://economicedge.blogspot.com/2010/04/damon-vrabel-goldman-sachs-chess-and.html
jg – May 3, 2010
____________________________
FRIDAY, APRIL 30, 2010
Damon Vrabel - Goldman Sachs, Chess, and the Godfather
Just this morning I was discussing that there were obviously games being played with Goldman. According to Mr. Vrabel, that game is chess.
And look at who he points to as a probably power behind the scenes, none other than the very same JPMorgan mentioned this morning:
Goldman Sachs, Chess, and the Godfather
Between the SEC charges and the congressional panels, the government is finally doing its job going after Goldman Sachs, right? And this last week in April ends with the Justice Department picking up the baton, which puts Goldman under threat of criminal prosecution. Things have suddenly gotten serious.
Two weeks ago on a radio interview, I suggested the SEC investigation will either be a chump charge to pacify the masses or it might potentially be the beginning of the sacrifice of Goldman Sachs for reasons explained below. The Justice Department referral makes the latter more probable.
Criminal prosecution is indeed appropriate. Goldman deserves to be broken up. In fact, all banks of that size need to be broken up so that power is passed down to state and local economies, and countries are no longer held hostage by the mega firms. Is that what is happening here? Are we being saved from the financial parasites that have destroyed our economy?
Childlike Perspective: Left vs. Right
The left thinks so. The major media establishment is suddenly, as if by script, trumpeting the idea that government is cracking down on boogie man Goldman Sachs. This view says, “Yey! Our good government servants that have our best interests at heart are fixing those greedy Wall Street parasites.” That’s the entire purpose of the congressional panels—a stageshow for the Wall-Street-funded media to promote this narrative. But those very same government officials were the ones who did what Goldman Sachs representatives and the real powers behind Wall Street told them for the last 20+ years. They still get all of their money from Wall Street. Have they suddenly turned on the very people who feed them? Of course not.
The right thinks this crackdown is bad because Wall Street and Goldman represent a benevolent free market. This view goes beyond childlikeness and approaches insanity, like Goldman CEO Lloyd Blankfein thinking of himself as an angel from God. Wall Street, the Fed cartel, is a government creation. There is nothing “free market” about it. It is the most powerful monopolized cartel in the history of the world. Conservative media mouthpieces who trumpet Wall Street do not have a clue about our monetary system. They have never looked beyond the false religion of neoclassical economics, which conveniently ignores the issue of money.
Conclusion: rule out the simplistic view of the left and right. The Washington DC government has served Wall Street and big business for decades. There is no divide between big government and big business. They go hand in hand. Neither could exist without the other.
Adolescent Perspective: “They’re All Criminals”
Another group of people, far more accurate than the left vs. right disciples, think that Wall Street is just a predatory bunch. Bringing down Goldman Sachs would therefore be a good thing in their view. But they think DC government is a predatory bunch as well. They see through the salesmanship and PR pumped through the corporate media. They understand that frat boy behavior creates a self-serving clique whether on Wall Street or in Washington DC. In fact, they understand how the boys in both groups get their power from working together. It is all one club.
Conclusion: as correct as this view is, it leaves us paralyzed. Adolescents are brilliant at seeing through adult facades, but they may fail to see the higher level picture.
The Godfather: Who the Criminals Work For
The key to what is really happening is to understand that the suits we see on television are not in charge. A bunch of random self-serving people would not be able to pull off strategic, coordinated plans—the adolescent view is only half correct. There are people far above the pay grade of a senator like Chris Dodd or a wage servant like Lloyd Blankfein. He may be the top operating officer at Goldman, but by definition that means he is a servant of the ownership class—the Anglo mafia—that controls all money in the system. The fact that he earns a wage and gets a W2 at the end of the year means he and his firm are not in charge.
Goldman Sachs is effectively a capo regime. It is a powerful player in a game of controlled chaos. It was given a territory and was then expected to deliver the goods. And Goldman delivered better than all the other capos in the system. It reaped the rewards. Goldman’s officers were paid better than any other regime throughout the last several decades. Its hit men were the most productive. The most loyal—Rubin, Paulson, etc—have been inducted into the upper level circle around the Godfather and removed from the stressful street jobs that bring public scrutiny. Those guys made their hundreds of millions and no longer care whether Goldman exists or not. And from the Godfather’s perspective, there comes a time when capos have served their purpose. At that point, their life is in danger.
“The Game of the Century:” Bobby Fischer and the Queen Sacrifice
But capos typically are not sacrificed unless doing so would serve a Machiavellian purpose. So what would be the purpose of sacrificing Goldman? Well, in one of the more famous games in chess history, 13-year-old Bobby Fischer brilliantly pounced on his opponent and guaranteed victory by boldly sacrificing his queen on move 17. The queen is the most powerful chess piece. Average people would narrowly play a game defensively protecting their queen and assuming any chance to take your queen would lead to victory. But that elementary view would be precisely the weakness upon which a true chess mind, a Godfather, would prey. Beware of the bait being laid in front of you.
Goldman Sachs is very much analogous to a queen in the chess game being played by the ownership class—the richest pools of private capital controlled by multi-generational wealthy families that hover above countries via the central banking system. It has been one of the most potent pieces on the board for many years, its most recent attack being on the entire nation of Greece. But as the endgame comes into view, perhaps the most brilliant play to reach checkmate is now the queen sacrifice. Goldman employees had better be sending their resumes to JP Morgan Chase—a critical chess piece in the endgame that will be protected at all costs.
The Great Global Restructuring
What is the end game? The ownership class is attempting to restructure the world under a new financial system. We have had a global currency for a long time—the US dollar—but it has run its course. Wall Street has leveraged up the dollar as far as possible. The dollar now holds most nations hostage thanks to the power of the bond market, the central banking system. The ownership class needs a new debt-based currency and banking structure to maintain control as they pump the capital engine through the 21st century. This is why the G20 is working feverishly to build up the IMF, BIS, and new global financial rules. This time the production center will be China rather than the US, which is why China and Japan are the most asset-rich countries in the world while the western world is the most indebted. The west is on track for decades of slow decline while Asia is on the verge of seeing “the rising sun.”
So unfortunately the government vs. Goldman Sachs story has nothing to do with reforming Wall Street in the interest of average Americans. Rather it is a strategic move to further the endgame of consolidating Wall Street power, focusing public rage on Goldman to protect JP Morgan Chase, fueling new regulations to clamp down on the smaller banks that we so desperately need, and creating a global structure even bigger than the already “too big to fail” banking system. This may be setting up one of the biggest, most successful queen sacrifices in history. We should take the queen by all means—Goldman is a predator. But heed the lesson from 13-year-old Bobby Fischer. Be wary of checkmate.
Showing posts with label Damon Vrabel. Show all posts
Showing posts with label Damon Vrabel. Show all posts
Friday, September 15, 2006
Damon Vrabel - Central Banking vs. The Republic (May 30, 2010)
Damon Vrabel is one of the few people who has this thing solved. There are a lot of very intelligent people out there who believe that Bernanke is honest – and although he’s making what appears to be bad decisions – he’s only doing what he believes is best.
This is not a correct assumption. Step back and think about it. Is it possible that the world’s most accomplished financial minds – really believe that we can somehow defy the laws of mathematics (and reality) and keep a monetary system functioning that requires exponential debt growth? Can you grow debt and interest forever?
Of course not – as you’ve seen me say many times – the system is destined to fail. It’s simple mathematics….and this is not a mystery to Bernanke or his employers.
You now understand why the system is being kept secret (money creation through debt). If the world truly understood how the system worked – Bernanke and everyone else we see on television – would look like complete fools. It’s all a game of smoke and mirrors. As long as the world’s population is kept in the dark about how the system works – Bernanke, Obama, Dodd, Frank, Dimon, (fill in the blank with your favorite political and/or financial leader) can say whatever they want and sound intelligent. Tell the world the truth about the system – and suddenly – these people who have pointed the finger at everything but the true cause of the financial meltdown – are exposed.
An example of this would be Bernanke’s comments in the article below. Is political interference in monetary policy the cause of boom/bust cycles, an unstable economy and inflation? No. The world’s central banking system inherently does all these things – ‘political interference’ is not required. Besides – according to our Constitution – Congress should be managing our money anyway – not private bankers. I wonder why Bernanke never mentions this? What do you think would happen to Mr. Bernanke if he told the truth on CNBC? I think it’s safe to say that his tenure as the Chairman of the Fed would be over – and he would probably vanish.
That’s the trouble with lying. If someone tells the truth – and that truth becomes obvious to everyone – the liars only have a couple of options. Create more lies in an attempt to suppress the truth – or attack the person(s) telling the truth. In this case – since it will become obvious to everyone who is lying and why – everyone telling the truth about what is happening to our economy should get ready for some serious attacks.
jg – May 30, 2010
__________________________
SATURDAY, MAY 29, 2010
Nathan's Economic Edge
http://economicedge.blogspot.com/2010/05/damon-vrabel-central-banking-vs.html
Damon Vrabel - Central Banking vs. The Republic and the World
Damon produces another high quality article that is on target in terms of the problem, the people behind it, and in terms of the solution – Freedom’s Vision.
And just to piggyback on Damon’s Ben Bernanke survey, it’s my understanding from talking to people who frequently interact with our politicians that 90% of them fall into the clueless category, but the other 10% are in on what Damon is suggesting. It’s obvious, despite the Harvard lobotomy, that Bernanke isn’t clueless as he funnels trillions at the banks for whom he works… and thus it places him in the other 10% that are in on the debt pushing takeover of the Republic.
Now all we have to do is figure out how Damon escaped the Harvard neuron killing procedure himself and then replicate it… perhaps interfacing with the real world and staying far removed from people like Jamie Dimon is a good start:
Central Banking vs. The Republic and the World
A couple of days ago in Japan, Ben Bernanke said that the benefits of low interest rate policies that politicians want “are not sustainable and will soon evaporate, leaving behind inflationary pressures that worsen the economy’s long-term prospects…...thus political interference in monetary policy can generate undesirable boom-bust cycles that ultimately lead to both a less stable economy and higher inflation.”
[pause inserted so you have time to pick your jaw up off the floor]
We are now in the midst of one of the biggest boom-busts in history, all under the Fed’s watch, caused by its multi-decade low interest rate policy among other things, yet that is the scenario he says government oversight would cause! So what’s really going on here beneath Ben’s Harvard veneer?
He is trying to scare us with a fabricated boogie man—the idea that your elected leaders might do in some imaginary future what the Fed has already done in the unimaginable present. He wants you to be scared of this republic’s legislature reclaiming some power back from the financial empire that runs the global corporate system, and the US government from behind closed doors (article: Wall Street Empire). In other words, he wants you to continue submitting to financial dictatorship rather than rediscovering the principles of freedom, distributed power, and effective government. Will you choose submission or discovery? As more and more people are realizing, we are now in one of the most critical moments “in the course of human events.”
We have seen this moment before, especially from Hollywood. It is the WALL-E moment when the captain of the starship Axiom (our elected leaders) finally wrestles power back from Auto (the Fed cartel on Wall Street) and restores life by saving humanity from its TV programming (our media). It is the Gladiator moment when General Maximus wakes up to the imperial enemy and commits himself to restoring the republic. It is the Star Wars moment when Darth Vader chooses life for his son and the republic by throwing the emperor to his death. Which will you choose? Will real life turn out as well as fiction? Or will Ben’s scare tactics keep you in fear?
The Ben Bernanke Survey
I’m curious for your opinion about why Ben is doing this. Reply in the comments below with your answer to this multiple choice question: Who is Ben Bernanke?
1. Honest – he actually believes what he says. He’s still a Harvard kid getting gold stars on his homework as he repeats the fraudulent load of crap known as neoclassical economics.
2. Dishonest – he knows he’s just protecting the powers behind the Fed system and furthering their global restructuring plan by threatening the politicians with more boom-busts if they try to serve the people.
3. Insane – he’s not in touch with reality.
Folks like Jim Rogers, Marc Faber, and Peter Schiff promote #1, the idea that he’s a clueless theoretician repeatedly making mistakes. No doubt there was a time when he was just a bright-eyed overachiever being pumped full of theory disconnected from reality. But these guys ignore Ben’s comments in Japan. He makes it clear that he knows exaggerated low interest rate policies cause major problems, i.e. he’s not ignorant, but he engages in them anyway! So again I ask what’s really going on?
Feel free to disagree, but #2 is my answer, which means we need to stop believing Rogers, Faber, and Schiff that he’s a pedantic bureaucrat. That’s pure spin that reinforces the idea there’s no strategic plan behind what the G20, IMF, BIS, and Fed are doing in response to the coordinated actions of Rubin, Summers, Paulson, Geithner, Greenspan, AIG, JP Morgan Chase, Goldman Sachs, etc. Those who promote #1 are suggesting that these folks, all part of the elite Council on Foreign Relations (CFR), are basically randomly screwing up a kids’ game of checkers. No chance. The fact is we are in the mist of a global chess game being played above the heads of national governments in which debt and leverage are used to restructure the world under a new global money and banking system (video: Emerging Global Empire). I suggest Bernanke’s sole purpose is to hide the real role the Federal Reserve has played in this game while also helping to keep Congress from asserting its power.
Central Banking: Pro or Con?
The media likes to claim that voicing opposition to the Fed is lower class populism. But of course the media doesn’t think. It just promotes left or right groupthink for the few corporate powers that own the media. They don’t want you thinking about the question of a central bank. If they did, we might better understand the pros and cons.
The pro is that without a central body regulating the value of currency, thousands of banks across the country would be randomly cranking credit up and down resulting in economic turmoil. True. Some of the founders understood that without a controlled currency, private banking institutions could profit massively off whipsawing the people, which is why Article 1 Section 8 of the Constitution says the government should regulate the value of the currency. But of course we know this pro doesn’t apply to the Fed structure because the most extreme periods of economic turmoil have happened since it was created.
The problem with this pro is the first con of the Fed’s form of central banking—it puts currency control in private hands. Rather than the Fed having power over the banks, its structure actually gives the primary dealer banks (mega firms like JP Morgan Chase, Goldman Sachs, and many foreign banks) significant power to tell it what to do. Entrenched powers behind these firms working together in cartel groups like the New York Fed and CFR have far more leverage than the president, i.e. an individual with no financial experience who rotates into office for a short period of time completely surrounded by bankers and their allies. The entire purpose of the Constitution and having a republic, despite its flaws, was to put power in the hands of the public vs. a concentrated private oligarchy. But the Fed system creates such an oligarchy, as many Americans now see since the crash of 2008.
Mathematical con: Basing a currency on nothing but interest-bearing debt as the Fed system does creates the need for perpetual exponential growth (video: Culture of Empire part 1). This feels like a good thing at first, but eventually the accompanying perpetual inflation becomes clear (Bernanke admitted this in Japan by also saying central banks target 2% inflation—a huge indicator economists ignore that the system is unsustainable—a stable system would target zero). The perpetually increasing debt eventually becomes shocking (look around the world). The perpetually increasing scale and velocity of the system starts causing profound harm (Part 2 and 3). Exponential systems are guaranteed to crash. The eventual reckoning with the impossibility of exponential math is not pretty, and we are now entering the reckoning phase for our system (Chris Martenson video on Exponential Growth).
Economic con: Oligarchic monetary systems tend toward a 2-tiered society, money pushing rulers vs. money using servants who scramble to pay the rulers back plus interest. The ruling financial class eventually takes over the productive economy and then parasitically destroys the host upon which it lives as gambling and speculation replace savings and production as the engine of growth. Such is the power of a monetary system based on nothing but debt (Michael Hudson video).
Moral con: A debt-based monetary system enshrines usury, i.e. living off the backs of others by doing nothing but subjugating a population to systemic interest-bearing debt. So the foundation of our monetary system under the Federal Reserve is built upon immorality (article: Usury and the Coming Crash).
Philosophical con: Related to the moral and economic cons is the philosophical ideal of freedom. An oligarchic monetary system forces the great mass of the population into servitude. It effectively creates a predator/prey structure in society. In a system based purely on debt, the banking powers are able to super-inflate the system to drive up asset prices, and then deflate the system sucking value and assets up the pyramid to consolidate power. We saw this over the last 10 years. This is the biggest and brightest example of why Jefferson said “banking institutions are more dangerous than standing armies.” It’s also the best example of why the Constitution demands that government regulate the currency.
Solution
So how can we get the one pro of a central monetary authority regulating the value of the currency without any of the cons above? Do precisely what Ben says we shouldn’t do—reestablish the republic by putting currency regulation in the hands of public officials as the Constitutions says. If a country doesn’t have a sovereign currency, it doesn’t have a sovereign government. We are learning that painful lesson now as we see Greece being attacked and taken over by financial institutions. The same thing has happened to many countries in the past and it will happen in the future if governments don’t take charge. At that point everyone will know the truth—governments are held hostage by private financial interests. But more and more Americans are realizing the truth now and pushing for change.
However, the change is not as simple as ending the Fed. Without a transition plan, that would cause a disaster since it is the basis for the money supply. The key is to nationalize the Fed, and possibly its primary dealers during the transition phase, to keep them from holding us hostage with the threat of collapse. Then with honest public officials in Treasury and other agencies that don’t represent Goldman Sachs and the rest of the financial cartel—people like William Black, Brooksley Born, Janet Tavakoli, Michael Hudson, Eliot Spitzer, Harry Markopolos—it will be possible to restructure the monetary system. Other components of the solution involve the US Treasury printing sovereign US notes, state banking systems like North Dakota to restore state power, etc. (see details at Freedom’s Vision)
Just a short time ago things felt hopeless because, as Martin Luther King warned, “One of the great liabilities of history is that all too many people fail to remain awake through great periods of social change.” But the republic has heeded his call. It is awakening. Restoration is on the horizon, and that’s a good thing for America and the rest of the world.
This is not a correct assumption. Step back and think about it. Is it possible that the world’s most accomplished financial minds – really believe that we can somehow defy the laws of mathematics (and reality) and keep a monetary system functioning that requires exponential debt growth? Can you grow debt and interest forever?
Of course not – as you’ve seen me say many times – the system is destined to fail. It’s simple mathematics….and this is not a mystery to Bernanke or his employers.
You now understand why the system is being kept secret (money creation through debt). If the world truly understood how the system worked – Bernanke and everyone else we see on television – would look like complete fools. It’s all a game of smoke and mirrors. As long as the world’s population is kept in the dark about how the system works – Bernanke, Obama, Dodd, Frank, Dimon, (fill in the blank with your favorite political and/or financial leader) can say whatever they want and sound intelligent. Tell the world the truth about the system – and suddenly – these people who have pointed the finger at everything but the true cause of the financial meltdown – are exposed.
An example of this would be Bernanke’s comments in the article below. Is political interference in monetary policy the cause of boom/bust cycles, an unstable economy and inflation? No. The world’s central banking system inherently does all these things – ‘political interference’ is not required. Besides – according to our Constitution – Congress should be managing our money anyway – not private bankers. I wonder why Bernanke never mentions this? What do you think would happen to Mr. Bernanke if he told the truth on CNBC? I think it’s safe to say that his tenure as the Chairman of the Fed would be over – and he would probably vanish.
That’s the trouble with lying. If someone tells the truth – and that truth becomes obvious to everyone – the liars only have a couple of options. Create more lies in an attempt to suppress the truth – or attack the person(s) telling the truth. In this case – since it will become obvious to everyone who is lying and why – everyone telling the truth about what is happening to our economy should get ready for some serious attacks.
jg – May 30, 2010
__________________________
SATURDAY, MAY 29, 2010
Nathan's Economic Edge
http://economicedge.blogspot.com/2010/05/damon-vrabel-central-banking-vs.html
Damon Vrabel - Central Banking vs. The Republic and the World
Damon produces another high quality article that is on target in terms of the problem, the people behind it, and in terms of the solution – Freedom’s Vision.
And just to piggyback on Damon’s Ben Bernanke survey, it’s my understanding from talking to people who frequently interact with our politicians that 90% of them fall into the clueless category, but the other 10% are in on what Damon is suggesting. It’s obvious, despite the Harvard lobotomy, that Bernanke isn’t clueless as he funnels trillions at the banks for whom he works… and thus it places him in the other 10% that are in on the debt pushing takeover of the Republic.
Now all we have to do is figure out how Damon escaped the Harvard neuron killing procedure himself and then replicate it… perhaps interfacing with the real world and staying far removed from people like Jamie Dimon is a good start:
Central Banking vs. The Republic and the World
A couple of days ago in Japan, Ben Bernanke said that the benefits of low interest rate policies that politicians want “are not sustainable and will soon evaporate, leaving behind inflationary pressures that worsen the economy’s long-term prospects…...thus political interference in monetary policy can generate undesirable boom-bust cycles that ultimately lead to both a less stable economy and higher inflation.”
[pause inserted so you have time to pick your jaw up off the floor]
We are now in the midst of one of the biggest boom-busts in history, all under the Fed’s watch, caused by its multi-decade low interest rate policy among other things, yet that is the scenario he says government oversight would cause! So what’s really going on here beneath Ben’s Harvard veneer?
He is trying to scare us with a fabricated boogie man—the idea that your elected leaders might do in some imaginary future what the Fed has already done in the unimaginable present. He wants you to be scared of this republic’s legislature reclaiming some power back from the financial empire that runs the global corporate system, and the US government from behind closed doors (article: Wall Street Empire). In other words, he wants you to continue submitting to financial dictatorship rather than rediscovering the principles of freedom, distributed power, and effective government. Will you choose submission or discovery? As more and more people are realizing, we are now in one of the most critical moments “in the course of human events.”
We have seen this moment before, especially from Hollywood. It is the WALL-E moment when the captain of the starship Axiom (our elected leaders) finally wrestles power back from Auto (the Fed cartel on Wall Street) and restores life by saving humanity from its TV programming (our media). It is the Gladiator moment when General Maximus wakes up to the imperial enemy and commits himself to restoring the republic. It is the Star Wars moment when Darth Vader chooses life for his son and the republic by throwing the emperor to his death. Which will you choose? Will real life turn out as well as fiction? Or will Ben’s scare tactics keep you in fear?
The Ben Bernanke Survey
I’m curious for your opinion about why Ben is doing this. Reply in the comments below with your answer to this multiple choice question: Who is Ben Bernanke?
1. Honest – he actually believes what he says. He’s still a Harvard kid getting gold stars on his homework as he repeats the fraudulent load of crap known as neoclassical economics.
2. Dishonest – he knows he’s just protecting the powers behind the Fed system and furthering their global restructuring plan by threatening the politicians with more boom-busts if they try to serve the people.
3. Insane – he’s not in touch with reality.
Folks like Jim Rogers, Marc Faber, and Peter Schiff promote #1, the idea that he’s a clueless theoretician repeatedly making mistakes. No doubt there was a time when he was just a bright-eyed overachiever being pumped full of theory disconnected from reality. But these guys ignore Ben’s comments in Japan. He makes it clear that he knows exaggerated low interest rate policies cause major problems, i.e. he’s not ignorant, but he engages in them anyway! So again I ask what’s really going on?
Feel free to disagree, but #2 is my answer, which means we need to stop believing Rogers, Faber, and Schiff that he’s a pedantic bureaucrat. That’s pure spin that reinforces the idea there’s no strategic plan behind what the G20, IMF, BIS, and Fed are doing in response to the coordinated actions of Rubin, Summers, Paulson, Geithner, Greenspan, AIG, JP Morgan Chase, Goldman Sachs, etc. Those who promote #1 are suggesting that these folks, all part of the elite Council on Foreign Relations (CFR), are basically randomly screwing up a kids’ game of checkers. No chance. The fact is we are in the mist of a global chess game being played above the heads of national governments in which debt and leverage are used to restructure the world under a new global money and banking system (video: Emerging Global Empire). I suggest Bernanke’s sole purpose is to hide the real role the Federal Reserve has played in this game while also helping to keep Congress from asserting its power.
Central Banking: Pro or Con?
The media likes to claim that voicing opposition to the Fed is lower class populism. But of course the media doesn’t think. It just promotes left or right groupthink for the few corporate powers that own the media. They don’t want you thinking about the question of a central bank. If they did, we might better understand the pros and cons.
The pro is that without a central body regulating the value of currency, thousands of banks across the country would be randomly cranking credit up and down resulting in economic turmoil. True. Some of the founders understood that without a controlled currency, private banking institutions could profit massively off whipsawing the people, which is why Article 1 Section 8 of the Constitution says the government should regulate the value of the currency. But of course we know this pro doesn’t apply to the Fed structure because the most extreme periods of economic turmoil have happened since it was created.
The problem with this pro is the first con of the Fed’s form of central banking—it puts currency control in private hands. Rather than the Fed having power over the banks, its structure actually gives the primary dealer banks (mega firms like JP Morgan Chase, Goldman Sachs, and many foreign banks) significant power to tell it what to do. Entrenched powers behind these firms working together in cartel groups like the New York Fed and CFR have far more leverage than the president, i.e. an individual with no financial experience who rotates into office for a short period of time completely surrounded by bankers and their allies. The entire purpose of the Constitution and having a republic, despite its flaws, was to put power in the hands of the public vs. a concentrated private oligarchy. But the Fed system creates such an oligarchy, as many Americans now see since the crash of 2008.
Mathematical con: Basing a currency on nothing but interest-bearing debt as the Fed system does creates the need for perpetual exponential growth (video: Culture of Empire part 1). This feels like a good thing at first, but eventually the accompanying perpetual inflation becomes clear (Bernanke admitted this in Japan by also saying central banks target 2% inflation—a huge indicator economists ignore that the system is unsustainable—a stable system would target zero). The perpetually increasing debt eventually becomes shocking (look around the world). The perpetually increasing scale and velocity of the system starts causing profound harm (Part 2 and 3). Exponential systems are guaranteed to crash. The eventual reckoning with the impossibility of exponential math is not pretty, and we are now entering the reckoning phase for our system (Chris Martenson video on Exponential Growth).
Economic con: Oligarchic monetary systems tend toward a 2-tiered society, money pushing rulers vs. money using servants who scramble to pay the rulers back plus interest. The ruling financial class eventually takes over the productive economy and then parasitically destroys the host upon which it lives as gambling and speculation replace savings and production as the engine of growth. Such is the power of a monetary system based on nothing but debt (Michael Hudson video).
Moral con: A debt-based monetary system enshrines usury, i.e. living off the backs of others by doing nothing but subjugating a population to systemic interest-bearing debt. So the foundation of our monetary system under the Federal Reserve is built upon immorality (article: Usury and the Coming Crash).
Philosophical con: Related to the moral and economic cons is the philosophical ideal of freedom. An oligarchic monetary system forces the great mass of the population into servitude. It effectively creates a predator/prey structure in society. In a system based purely on debt, the banking powers are able to super-inflate the system to drive up asset prices, and then deflate the system sucking value and assets up the pyramid to consolidate power. We saw this over the last 10 years. This is the biggest and brightest example of why Jefferson said “banking institutions are more dangerous than standing armies.” It’s also the best example of why the Constitution demands that government regulate the currency.
Solution
So how can we get the one pro of a central monetary authority regulating the value of the currency without any of the cons above? Do precisely what Ben says we shouldn’t do—reestablish the republic by putting currency regulation in the hands of public officials as the Constitutions says. If a country doesn’t have a sovereign currency, it doesn’t have a sovereign government. We are learning that painful lesson now as we see Greece being attacked and taken over by financial institutions. The same thing has happened to many countries in the past and it will happen in the future if governments don’t take charge. At that point everyone will know the truth—governments are held hostage by private financial interests. But more and more Americans are realizing the truth now and pushing for change.
However, the change is not as simple as ending the Fed. Without a transition plan, that would cause a disaster since it is the basis for the money supply. The key is to nationalize the Fed, and possibly its primary dealers during the transition phase, to keep them from holding us hostage with the threat of collapse. Then with honest public officials in Treasury and other agencies that don’t represent Goldman Sachs and the rest of the financial cartel—people like William Black, Brooksley Born, Janet Tavakoli, Michael Hudson, Eliot Spitzer, Harry Markopolos—it will be possible to restructure the monetary system. Other components of the solution involve the US Treasury printing sovereign US notes, state banking systems like North Dakota to restore state power, etc. (see details at Freedom’s Vision)
Just a short time ago things felt hopeless because, as Martin Luther King warned, “One of the great liabilities of history is that all too many people fail to remain awake through great periods of social change.” But the republic has heeded his call. It is awakening. Restoration is on the horizon, and that’s a good thing for America and the rest of the world.
Damon Vrabel - Corporate PR vs the Truth - June 22 2010
More truth from Damon Vrabel - this time he gives us insight into corporate public relations rhetoric (PR) versus the truth.
Here’s a quote from Damon’s article below that sums up what you need to know about Buffett and Gates’ recent charity.
“Among other things, it’s a preemptive strike against the rage of the lower classes that will result from the final reckoning with our broken monetary system and the fact that the corporate system has shifted American jobs and production offshore. This is an orchestrated billionaire PR campaign, kicked off at a dinner with David Rockefeller himself, “lord” of the US banking establishment. Gates and Buffett are providing strategic marketing through CFR (Council on Foreign Relations) mouthpiece Charlie Rose and other major media arms of the establishment, then companies and smaller billionaires are following their lead and giving away money in return for more PR effect.”
The following is a post from Nathan’s Economic Edge.
jg – June 22, 2010
________________
MONDAY, JUNE 21, 2010
http://economicedge.blogspot.com/2010/06/damon-vrabel-pr-vs-truth-corporate.html
http://economicedge.blogspot.com/
Damon Vrabel - PR vs. Truth: Corporate Charity and the Billionaire’s Ruse
When I heard that Buffett and Gates were calling on all billionaires to donate half their money to charity, I instantly had many of the same thoughts as Damon - PR spin:
PR vs. Truth: Corporate Charity and the Billionaire’s Ruse
By Damon Vrabel
Warren Buffett and Bill Gates are acting as if they’ve discovered the fountain of youth as they are now telling other billionaires they don’t need to spend their lives addictively pursuing and hoarding wealth. On the surface this is noble, even though most people learned such things from their pet as a kid. They’re inspiring other billionaires to follow their lead. So we’re supposed to cheer right? Many people are cheering. The comments range from “thank you!” and “bless you Warren!” to the more worshipful “you are a hero!” and “this proves Microsoft’s commitment to humanity!”
Wow—the power of corporate PR. It’s unfortunate that snake oil has always been a bestseller. So rather than cheer, I’ll give a different perspective on what this billionaire PR campaign might be all about.
The real reason Gates and Buffett are doing this in the media now is because they’re still doing what they’ve done their whole adult lives—serving their bosses, the moneyed establishment behind Wall Street. While the exponential growth machine was inflating, the establishment wanted them addictively pursuing EPS and share growth, and they dutifully did so better than most. But now that the machine is shutting down, the fact is that billionaires won’t be able to pursue wealth—the game is over for a while. And now that we’re headed for a major dose of deflation that will cause a lot of pain for a lot of people, the establishment wants Gates and Buffett on TV talking about charity. Why?
Among other things, it’s a preemptive strike against the rage of the lower classes that will result from the final reckoning with our broken monetary system and the fact that the corporate system has shifted American jobs and production offshore. This is an orchestrated billionaire PR campaign, kicked off at a dinner with David Rockefeller himself, “lord” of the US banking establishment. Gates and Buffett are providing strategic marketing through CFR (Council on Foreign Relations) mouthpiece Charlie Rose and other major media arms of the establishment, then companies and smaller billionaires are following their lead and giving away money in return for more PR effect.
Two examples:
Corporate charity: JP Morgan Chase got a lot of bang for its buck on June 9th announcing a $5 million charity program for education. CEO, billionaire, and inner CFR member Jamie Dimon said, “As a company, we’re highly committed to serving our local communities…We’ve now seen that when corporations listen to the communities they serve, they can learn a great deal and, in turn, help worthy causes achieve goals that would have never been possible.”
Billionaire charity: Marc Benioff, CEO of salesforce.com, billionaire, and CFR member just gave away $100 million to a hospital in San Francisco. The PR master has stirred many on Facebook to lawd him with near religious fervor and thank him for caring so much for his community. It’s the corporate suit equivalent of a rock concert.
Again beyond the PR, this is part of an organized campaign being run by the corporate ruling class. While the most powerful folks at JPM Chase know the truth, the non-profit team inside the bank and an individual like Marc genuinely believe in what they are doing. They’re decent people. They just don’t realize how their compartmentalization within the mega corporate structure keeps them from seeing the truth of the debt-based corporate empire they’re serving. So what’s the truth?
Will the Real JP Morgan Chase Please Stand Up?
Let’s start with JP Morgan Chase. It is a voracious institution driven by ruthless usury putting people, towns, counties, states, and countries in debt. It has fed the multi-generational billionaire families that have controlled the bank through history (the merger of JP Morgan interests and Rockefeller interests behind Chase) while making a few of its operating officers like Jamie Dimon billionaires as well. It has done so by being the most powerful member of the Federal Reserve cartel that puts the US government in servitude and forces all of us to borrow and pay interest in order to have money, i.e. in order to survive. So the bank effectively controls the rest of us in an economic structure similar to the old days of feudalism.
Some specific examples are useful to help understand the true character of this institution. The bank, sometimes through foreign surrogates, has a track record of being involved in the financial crises that put foreign governments under even more debt from the Anglo-American banking establishment and give western corporations more power and control over natural resources and other assets. The bank helps drive smaller levels of government into insolvency, with Jefferson County Alabama being the most obvious current example. The bank has been accused of insider market manipulation, most recently in the silver market. The bank has participated in the general banking attack on much of the world having blown indebtedness, and therefore asset bubbles, to such stratospheric heights that major “discontinuous adjustment” is guaranteed, to use an innocuous Greenspan phrase for “unprecedented catastrophe.” And the bank showed how ruthless its operating officers can be in the aftermath of the collapse of 2008 when they had no problem jacking up credit card rates and kicking people out of their homes as Jamie Dimon went on CNBC to tell Americans they better pay up so his team can keep pocketing millions. At the same time, the powers behind the bank were extorting the government to put the nation in even more debt, transfer billions to them, and hand them valuable assets like WAMU.
This should reveal the truth behind Jamie Dimon’s claim that Chase “serves its communities.” That is PR spin straight out of Orwell’s 1984 where corporate propaganda from a smooth Harvard billionaire replaces truth. I also hope this helps put in perspective a $5 million charity handout designed to give them PR value. $5 million isn’t even pocket change to Chase. It’s a tiny drop in the ocean of money that has been stripped from the population in the first place through usury. So a helpful analogy to this Chase charity stunt might be a viciously abusive husband who gives his wife a Reese’s peanut butter cup after 10 years of broken bones, hospital visits, and psychological horror. Don’t be a sucker.
Marc Benioff and the Truth of the Tech Boom
In Marc’s case, the story is far less severe. He’s not in the dark usury business. He’s not evil. But the gap between truth and PR is still wide. He became a billionaire in the 2nd phase of the tech boom in which the establishment chose Web 2.0 technologies for its corporate empire vs. the old client/server architecture from the 1st tech boom. At the micro level, people inside his company think they’re benevolently serving human progress. But the macro perspective reveals that salesforce.com is just one small component of the overall new world economic order being built by the financial empire that rules much of the world. His product helps the corporate system go global and turn away from national and community loyalties. So salesforce.com’s gain is, for example, the industrial midwest’s ruin—so much for the idea that he loves community. As a few comfy employees in the company have gotten rich IN the tech bubble, manufacturing towns have been destroyed BY the tech bubble. His product also puts data in the “cloud computing” architecture on the internet beyond corporate firewalls and national borders so the banking establishment can further consolidate power and control. This explains why a CFR lawyer was a top officer at the company for a few years and why a public CFR representative like Colin Powell would speak at a Benioff conference for techies, not typically a venue where one sees national leaders who have more important things to do.
What’s really sad about the tech billionaires is that their wealth was driven by putting the rest of the world in massive debt. They don’t understand this. They think they really are “self-made” billionaires as described by establishment rags like Forbes. But as Teddy Roosevelt said, business elites don’t know much outside their own business, so they don’t realize the true mechanism that funneled so much wealth into the tech industry and their personal bank accounts. As a result of Greenspan and team driving the real estate debt boom and the US government massively increasing its debt at the same time, the Wall Street cartel had new unprecedented levels of liquidity to funnel into the corporate empire system. This gave corporations billions to allocate to new capital projects, and since Wall Street governs the corporate system, it dictated how that money would be spent. So guys like Marc saw their share prices shoot to the stratosphere as corporations funneled to them billions in funny money backed by the debt that would soon drown millions of people.
Truth vs. Corporate PR
This is the truth of the corporate system, our supposed captains of industry, and the tech billionaires we admire for entrepreneurial efforts. This is the truth that more and more Americans are waking up to. And this is therefore likely the reason the CFR corporate establishment is encouraging guys like Marc to dole out money in a coordinated campaign designed to make people admire billionaires and the corporate system that rules them. If they can buyoff enough of the population with charity PR, they might avoid the reckoning that would otherwise be coming their way. They will be able to stay peacefully in their billionaire enclaves separate from real communities as the rest of the population suffers in the next phase of deflationary decline coming our way.
So Warren, Bill, Jamie, Marc, am I glad some of the money that was sucked into your accounts by the debt system is being given back to the community? Absolutely. But will you go further? Will you learn the truths this article discusses? Will you actually get out in your communities, meet real people, learn about how their indebtedness is directly proportional to your wealth, and work with them to change the system rather than writing a check, hiding behind PR professionals, and serving the CFR agenda?
The people are awake to the truth now. The system is reverting back to reality. The PR matrix is coming down. You should move beyond the fake PR facades as well. Warren, you said the dinner with Lord Rockefeller was almost like a therapy session. I promise you’ll feel even better if you simply choose truth over PR. As opposed to the narcissists that Rothkopf calls the “superclass” which surrounds you, most people are forgiving by nature. You don’t have to hide behind PR any longer.
Here’s a quote from Damon’s article below that sums up what you need to know about Buffett and Gates’ recent charity.
“Among other things, it’s a preemptive strike against the rage of the lower classes that will result from the final reckoning with our broken monetary system and the fact that the corporate system has shifted American jobs and production offshore. This is an orchestrated billionaire PR campaign, kicked off at a dinner with David Rockefeller himself, “lord” of the US banking establishment. Gates and Buffett are providing strategic marketing through CFR (Council on Foreign Relations) mouthpiece Charlie Rose and other major media arms of the establishment, then companies and smaller billionaires are following their lead and giving away money in return for more PR effect.”
The following is a post from Nathan’s Economic Edge.
jg – June 22, 2010
________________
MONDAY, JUNE 21, 2010
http://economicedge.blogspot.com/2010/06/damon-vrabel-pr-vs-truth-corporate.html
http://economicedge.blogspot.com/
Damon Vrabel - PR vs. Truth: Corporate Charity and the Billionaire’s Ruse
When I heard that Buffett and Gates were calling on all billionaires to donate half their money to charity, I instantly had many of the same thoughts as Damon - PR spin:
PR vs. Truth: Corporate Charity and the Billionaire’s Ruse
By Damon Vrabel
Warren Buffett and Bill Gates are acting as if they’ve discovered the fountain of youth as they are now telling other billionaires they don’t need to spend their lives addictively pursuing and hoarding wealth. On the surface this is noble, even though most people learned such things from their pet as a kid. They’re inspiring other billionaires to follow their lead. So we’re supposed to cheer right? Many people are cheering. The comments range from “thank you!” and “bless you Warren!” to the more worshipful “you are a hero!” and “this proves Microsoft’s commitment to humanity!”
Wow—the power of corporate PR. It’s unfortunate that snake oil has always been a bestseller. So rather than cheer, I’ll give a different perspective on what this billionaire PR campaign might be all about.
The real reason Gates and Buffett are doing this in the media now is because they’re still doing what they’ve done their whole adult lives—serving their bosses, the moneyed establishment behind Wall Street. While the exponential growth machine was inflating, the establishment wanted them addictively pursuing EPS and share growth, and they dutifully did so better than most. But now that the machine is shutting down, the fact is that billionaires won’t be able to pursue wealth—the game is over for a while. And now that we’re headed for a major dose of deflation that will cause a lot of pain for a lot of people, the establishment wants Gates and Buffett on TV talking about charity. Why?
Among other things, it’s a preemptive strike against the rage of the lower classes that will result from the final reckoning with our broken monetary system and the fact that the corporate system has shifted American jobs and production offshore. This is an orchestrated billionaire PR campaign, kicked off at a dinner with David Rockefeller himself, “lord” of the US banking establishment. Gates and Buffett are providing strategic marketing through CFR (Council on Foreign Relations) mouthpiece Charlie Rose and other major media arms of the establishment, then companies and smaller billionaires are following their lead and giving away money in return for more PR effect.
Two examples:
Corporate charity: JP Morgan Chase got a lot of bang for its buck on June 9th announcing a $5 million charity program for education. CEO, billionaire, and inner CFR member Jamie Dimon said, “As a company, we’re highly committed to serving our local communities…We’ve now seen that when corporations listen to the communities they serve, they can learn a great deal and, in turn, help worthy causes achieve goals that would have never been possible.”
Billionaire charity: Marc Benioff, CEO of salesforce.com, billionaire, and CFR member just gave away $100 million to a hospital in San Francisco. The PR master has stirred many on Facebook to lawd him with near religious fervor and thank him for caring so much for his community. It’s the corporate suit equivalent of a rock concert.
Again beyond the PR, this is part of an organized campaign being run by the corporate ruling class. While the most powerful folks at JPM Chase know the truth, the non-profit team inside the bank and an individual like Marc genuinely believe in what they are doing. They’re decent people. They just don’t realize how their compartmentalization within the mega corporate structure keeps them from seeing the truth of the debt-based corporate empire they’re serving. So what’s the truth?
Will the Real JP Morgan Chase Please Stand Up?
Let’s start with JP Morgan Chase. It is a voracious institution driven by ruthless usury putting people, towns, counties, states, and countries in debt. It has fed the multi-generational billionaire families that have controlled the bank through history (the merger of JP Morgan interests and Rockefeller interests behind Chase) while making a few of its operating officers like Jamie Dimon billionaires as well. It has done so by being the most powerful member of the Federal Reserve cartel that puts the US government in servitude and forces all of us to borrow and pay interest in order to have money, i.e. in order to survive. So the bank effectively controls the rest of us in an economic structure similar to the old days of feudalism.
Some specific examples are useful to help understand the true character of this institution. The bank, sometimes through foreign surrogates, has a track record of being involved in the financial crises that put foreign governments under even more debt from the Anglo-American banking establishment and give western corporations more power and control over natural resources and other assets. The bank helps drive smaller levels of government into insolvency, with Jefferson County Alabama being the most obvious current example. The bank has been accused of insider market manipulation, most recently in the silver market. The bank has participated in the general banking attack on much of the world having blown indebtedness, and therefore asset bubbles, to such stratospheric heights that major “discontinuous adjustment” is guaranteed, to use an innocuous Greenspan phrase for “unprecedented catastrophe.” And the bank showed how ruthless its operating officers can be in the aftermath of the collapse of 2008 when they had no problem jacking up credit card rates and kicking people out of their homes as Jamie Dimon went on CNBC to tell Americans they better pay up so his team can keep pocketing millions. At the same time, the powers behind the bank were extorting the government to put the nation in even more debt, transfer billions to them, and hand them valuable assets like WAMU.
This should reveal the truth behind Jamie Dimon’s claim that Chase “serves its communities.” That is PR spin straight out of Orwell’s 1984 where corporate propaganda from a smooth Harvard billionaire replaces truth. I also hope this helps put in perspective a $5 million charity handout designed to give them PR value. $5 million isn’t even pocket change to Chase. It’s a tiny drop in the ocean of money that has been stripped from the population in the first place through usury. So a helpful analogy to this Chase charity stunt might be a viciously abusive husband who gives his wife a Reese’s peanut butter cup after 10 years of broken bones, hospital visits, and psychological horror. Don’t be a sucker.
Marc Benioff and the Truth of the Tech Boom
In Marc’s case, the story is far less severe. He’s not in the dark usury business. He’s not evil. But the gap between truth and PR is still wide. He became a billionaire in the 2nd phase of the tech boom in which the establishment chose Web 2.0 technologies for its corporate empire vs. the old client/server architecture from the 1st tech boom. At the micro level, people inside his company think they’re benevolently serving human progress. But the macro perspective reveals that salesforce.com is just one small component of the overall new world economic order being built by the financial empire that rules much of the world. His product helps the corporate system go global and turn away from national and community loyalties. So salesforce.com’s gain is, for example, the industrial midwest’s ruin—so much for the idea that he loves community. As a few comfy employees in the company have gotten rich IN the tech bubble, manufacturing towns have been destroyed BY the tech bubble. His product also puts data in the “cloud computing” architecture on the internet beyond corporate firewalls and national borders so the banking establishment can further consolidate power and control. This explains why a CFR lawyer was a top officer at the company for a few years and why a public CFR representative like Colin Powell would speak at a Benioff conference for techies, not typically a venue where one sees national leaders who have more important things to do.
What’s really sad about the tech billionaires is that their wealth was driven by putting the rest of the world in massive debt. They don’t understand this. They think they really are “self-made” billionaires as described by establishment rags like Forbes. But as Teddy Roosevelt said, business elites don’t know much outside their own business, so they don’t realize the true mechanism that funneled so much wealth into the tech industry and their personal bank accounts. As a result of Greenspan and team driving the real estate debt boom and the US government massively increasing its debt at the same time, the Wall Street cartel had new unprecedented levels of liquidity to funnel into the corporate empire system. This gave corporations billions to allocate to new capital projects, and since Wall Street governs the corporate system, it dictated how that money would be spent. So guys like Marc saw their share prices shoot to the stratosphere as corporations funneled to them billions in funny money backed by the debt that would soon drown millions of people.
Truth vs. Corporate PR
This is the truth of the corporate system, our supposed captains of industry, and the tech billionaires we admire for entrepreneurial efforts. This is the truth that more and more Americans are waking up to. And this is therefore likely the reason the CFR corporate establishment is encouraging guys like Marc to dole out money in a coordinated campaign designed to make people admire billionaires and the corporate system that rules them. If they can buyoff enough of the population with charity PR, they might avoid the reckoning that would otherwise be coming their way. They will be able to stay peacefully in their billionaire enclaves separate from real communities as the rest of the population suffers in the next phase of deflationary decline coming our way.
So Warren, Bill, Jamie, Marc, am I glad some of the money that was sucked into your accounts by the debt system is being given back to the community? Absolutely. But will you go further? Will you learn the truths this article discusses? Will you actually get out in your communities, meet real people, learn about how their indebtedness is directly proportional to your wealth, and work with them to change the system rather than writing a check, hiding behind PR professionals, and serving the CFR agenda?
The people are awake to the truth now. The system is reverting back to reality. The PR matrix is coming down. You should move beyond the fake PR facades as well. Warren, you said the dinner with Lord Rockefeller was almost like a therapy session. I promise you’ll feel even better if you simply choose truth over PR. As opposed to the narcissists that Rothkopf calls the “superclass” which surrounds you, most people are forgiving by nature. You don’t have to hide behind PR any longer.
Damon Vrabel - Sovereign Debt: The Death of Nations vs. the Wealth of Nations - July 7 2010
More truth from Damon Vrabel.
jg – July 7, 2010
_______________________
http://economicedge.blogspot.com/2010/07/damon-vrabel-sovereign-debt-death-of.html
WEDNESDAY, JULY 7, 2010
Damon Vrabel - Sovereign Debt: The Death of Nations vs. the Wealth of Nations
Damon with more truth telling...
Sovereign Debt: The Death of Nations vs. the Wealth of Nations
http://csper.wordpress.com/2010/07/07/sovereign-debt-the-death-of-nations-vs-the-wealth-of-nations/
The gap between the truth vs. the lies that pass for truth in the media has never been so wide. But living a lie is very destructive, so it's important to cross this gap. Today I want to clear up one of the most important lies reinforced by the media--the idea that we have sovereign countries.
No doubt most of you have heard of the sovereign debt crisis that so many countries are facing. We hear endless economists, reporters, and billionaire hedge fund raiders talk about it. But the phrase they use is fictitious. It is a fabrication of the Ivy League, Wall Street, and erudite periodicals like the Financial Times of London. Sovereign debt is an impossibility. It cannot exist.
It seems ridiculous to point this out, but sovereign debt implies sovereignty. Right? Well, if countries are sovereign, then how could they be required to be in debt to private banking institutions? How could they be so easily attacked by the likes of George Soros, JP Morgan Chase, and Goldman Sachs? Why would they be subjugated to the whims of auctions and traders?
A true sovereign is in debt to nobody and is not traded in the public markets. For example, how would George Soros attack, say, the British royal family? It's not possible. They are sovereign. Their stock isn't traded on the NYSE. He can't orchestrate a naked short sell strategy to destroy their credit and force them to restructure their assets. But he can do that to most of the other 6.7 billion people of the world by designing attack strategies against the companies they work for and the governments they depend on.
The fact is that most countries are not sovereign (the few that are are being attacked by CIA/MI6/Mossad or the military). Instead they are administrative districts or customers of the global banking establishment whose power has grown steadily over time based on the math of the bond market, currently ruled by the US dollar, and the expansionary nature of fractional lending. Their cult of economists from places like Harvard, Chicago, and the London School have steadily eroded national sovereignty by forcing debt-based, floating currencies on countries. So let's start being honest and stop describing their debt instruments as sovereign.
We long ago lost the free market envisioned by Adam Smith in the "Wealth of Nations." Such a world would require sovereign currencies, i.e. currencies that are well-regulated rather than floating, and an asset rather than an interest-bearing debt. Only then could there be a "wealth of nations." But now we have nothing but the "debt of nations." The exponential math of debt by definition meant that countries would only lose their wealth over time and become increasingly indebted to the global central banking network.
So thanks to debt-based, free-floating currencies, the "wealth of nations" transitioned to the "debt of nations" which is now transitioning to the "death of nations." The new world economic order with one currency, one banking system, one government, and one integrated corporate empire is on the horizon. Perhaps that's a good thing, but if it were, why would the establishment concoct oxymorons like "sovereign debt" instead of telling the truth? That's my only goal here--I think people can be trusted with the truth. Lies harm not only the population hearing them, but also the powerful people telling them.
Those powers have the best salesmen in the world, so why don't they just sell the population on the truth? Apparently they don't think you'd like it. Well now you have it. And it's coming unless countries follow Iceland's lead and recover their sovereignty. The choice is ours.
Love it! The "Wealth of Nations" becomes the "Debt of Nations" which leads to the "Death of Nations." Adam Smith would be so proud! (NOT)
jg – July 7, 2010
_______________________
http://economicedge.blogspot.com/2010/07/damon-vrabel-sovereign-debt-death-of.html
WEDNESDAY, JULY 7, 2010
Damon Vrabel - Sovereign Debt: The Death of Nations vs. the Wealth of Nations
Damon with more truth telling...
Sovereign Debt: The Death of Nations vs. the Wealth of Nations
http://csper.wordpress.com/2010/07/07/sovereign-debt-the-death-of-nations-vs-the-wealth-of-nations/
The gap between the truth vs. the lies that pass for truth in the media has never been so wide. But living a lie is very destructive, so it's important to cross this gap. Today I want to clear up one of the most important lies reinforced by the media--the idea that we have sovereign countries.
No doubt most of you have heard of the sovereign debt crisis that so many countries are facing. We hear endless economists, reporters, and billionaire hedge fund raiders talk about it. But the phrase they use is fictitious. It is a fabrication of the Ivy League, Wall Street, and erudite periodicals like the Financial Times of London. Sovereign debt is an impossibility. It cannot exist.
It seems ridiculous to point this out, but sovereign debt implies sovereignty. Right? Well, if countries are sovereign, then how could they be required to be in debt to private banking institutions? How could they be so easily attacked by the likes of George Soros, JP Morgan Chase, and Goldman Sachs? Why would they be subjugated to the whims of auctions and traders?
A true sovereign is in debt to nobody and is not traded in the public markets. For example, how would George Soros attack, say, the British royal family? It's not possible. They are sovereign. Their stock isn't traded on the NYSE. He can't orchestrate a naked short sell strategy to destroy their credit and force them to restructure their assets. But he can do that to most of the other 6.7 billion people of the world by designing attack strategies against the companies they work for and the governments they depend on.
The fact is that most countries are not sovereign (the few that are are being attacked by CIA/MI6/Mossad or the military). Instead they are administrative districts or customers of the global banking establishment whose power has grown steadily over time based on the math of the bond market, currently ruled by the US dollar, and the expansionary nature of fractional lending. Their cult of economists from places like Harvard, Chicago, and the London School have steadily eroded national sovereignty by forcing debt-based, floating currencies on countries. So let's start being honest and stop describing their debt instruments as sovereign.
We long ago lost the free market envisioned by Adam Smith in the "Wealth of Nations." Such a world would require sovereign currencies, i.e. currencies that are well-regulated rather than floating, and an asset rather than an interest-bearing debt. Only then could there be a "wealth of nations." But now we have nothing but the "debt of nations." The exponential math of debt by definition meant that countries would only lose their wealth over time and become increasingly indebted to the global central banking network.
So thanks to debt-based, free-floating currencies, the "wealth of nations" transitioned to the "debt of nations" which is now transitioning to the "death of nations." The new world economic order with one currency, one banking system, one government, and one integrated corporate empire is on the horizon. Perhaps that's a good thing, but if it were, why would the establishment concoct oxymorons like "sovereign debt" instead of telling the truth? That's my only goal here--I think people can be trusted with the truth. Lies harm not only the population hearing them, but also the powerful people telling them.
Those powers have the best salesmen in the world, so why don't they just sell the population on the truth? Apparently they don't think you'd like it. Well now you have it. And it's coming unless countries follow Iceland's lead and recover their sovereignty. The choice is ours.
Love it! The "Wealth of Nations" becomes the "Debt of Nations" which leads to the "Death of Nations." Adam Smith would be so proud! (NOT)
Subscribe to:
Posts (Atom)
