These elites do not have a vision. They know only one word: more. They will continue to exploit the nation, the global economy and the ecosystem. And they will use their money to hide in gated compounds when it all implodes.
Chris Hedges
If you thought the global financial crisis of 2008 was difficult, wait till the sequel comes to your doorstep. Some investment professionals feel that the sky could soon be falling as recent events have led many to brace for the worst. The world and everyone in it should be preparing for some very difficult days ahead but that is not happening because most are drinking some kind of happy tea. An unprecedented financial storm of unknown scope and dimension is upon us but it is crushing certain people, cities, states and countries before others. Many are perceiving and reporting that the fundamental economic outlook has changed substantially over the last couple of weeks.
"There is a growing sense of despair in Brussels. Unlike previous attacks on the euro project, the latest downgrade of Portugal's debt by the ratings agency Moody's feels like the beginning of the end. Those economists and fund managers, who argued that a second bailout for Greece with private sector involvement would mean something similar for Portugal and most likely Ireland, are hitting their target. Like a 19th century battalion holding the line against oncoming hoards with depleted firepower and an officer class at war with itself, the euro's supporters are in a desperate situation," writes the Guardian.
A clear majority of the uncrushed are certain that there is nothing to worry about and go about their business as if life will continue on as it has these past few decades. But 100 percent of the crushed have no doubt that there is a civilization-scale catastrophe taking place and that there will be little or no recovery from it for as far as the eye can see into the future.
John Rubino wrote, "For a couple of years now it's been clear that the world was about to fall apart, with the only question being which local failure turns out to be the catalyst for a systemic breakdown. So many things were on the verge of blowing up... yet none of them did. The world's governments have engaged in a heroic period of "extend and pretend" that has kept the system together longer than seemed possible. But now the game seems to be ending. It's still not clear which bomb will go off first, but a bunch of fuses have gotten very short indeed. Here's a survey of old crises that are finally coming to a head." You want to see something that blew up this week?
"In the past week the ten-year interest rate increased by 12%. That is a monster change. This equates to 2,000 Dow points or 240 on the S&P," writes Bruce Krasting in his essay"Are the credit markets getting unstable?"?" If that trend continues, the fuse will light the powder and western civilizations financial system will come down hard. The price on the benchmark 10-year note edged lower, pushing its yield to 3.20%, up from Thursday's yield of 3.14%. Last Friday's losses continue what has been a sharp decline in bond prices.
Ron Holland said, "Today we find the United States and most of Europe in a similar situation. We risk an eruption and collapse of the mountain of unsustainable sovereign debt built up over the last two decades. Frankly, the U.S. dollar and national debt situation is so dire and our means to contain a sovereign debt crisis so limited by multiple wars, Washington's debt and political incompetence at home that anything could happen - almost overnight. Even a minor foreign policy or economic event like a Greek default or Middle East crisis could wreak havoc with the precarious interlocking sovereign debt pyramid in the West. American and most European governments and the central banking elites, which created the criminal sovereign debt fiasco, are only trying to buy more time to delay the inevitable. This inaction means the threat of an immediate U.S. dollar collapse cannot be ruled out. Therefore, readers who have not protected themselves certainly have cause to worry because now could be too late."
We are now only 60 days from the need of the United States government to fund half a trillion - 467.4 billion to be exact - dollars of debt."This is the amount of debt that matures through August 31 and has to be rolled over or the U.S. is bankrupt... in every sense of the word. Treasury must "roll over" almost $500 billion in debt that matures during August 2011. New debt is issued and the proceeds are used to repay the maturing debt plus interest due. Treasury will require market access throughout August to avoid defaulting on maturing debt. About $380 billion in short-term T-bills maturing, plus $90 billion in long-term securities," reports Tyler Durden.
Greece agreed last week to bind itself in another round of debt servitude. Violent demonstrations notwithstanding, members approved another round of tax increases and spending cuts to keep Europe's own extend-and-pretend game going a while longer. Think of Greece as maxed out on five credit cards, taking on a second part-time job, holding yard sales and applying for a sixth card just to keep up minimum payments on the other five. Everyone knows it's a losing game but they, as well as other governments around the world, have been playing at the table of unlimited debt through credit.
The world's financial system is hanging by its teeth and the entire western world is ailing from debt overdosing. What we have been experiencing these past decades is roaring prosperity compared to what is coming down the road. As the economy collapses life is going to get very strange; our problems and the chaos are going to get a lot worse.
The free market is dead and we have all arrived at a sort of involuntary socialism where the largest banks rape and pillage everyone else. "At the start of the second half of 2011, with a global economy in complete disarray, an increasingly unstable global monetary system and financial centers in desperate straits, all this despite the thousands of billions of public money invested to avoid precisely this type of situation. The insolvency of the global financial system, and of the Western financial system in the first place, returns again to the front of the stage after just over a year of political cosmetics aimed at burying this fundamental problem under truckloads of cash," writes GEAB.
There is no other possible end state then a full collapse of paper and digital wealth, which in today's world would be a catastrophe of civilization-destroying capacity. Silver Shield says, "The dollar collapse will be the single largest event in human history. This will be the first event that will touch every single living person in the world. All human activity is controlled by money. Our wealth, our work, our food, our government, even our relationships are affected by money. No money in human history has had as much reach in both breadth and depth as the dollar. It is the de facto world currency. All other currency collapses will pale in comparison to this big one. All other currency crises have been regional and there were other currencies for people to grasp on to. This collapse will be global and it will bring down not only the dollar but also all other fiat currencies as they are fundamentally no different. The collapse of currencies will lead to the collapse of ALL paper assets. The repercussions to this will have incredible results worldwide."
"Those areas that have lived highest on the hog in the dollar paradigm will most likely be the worst places to live when the dollar collapses. We will not be as fortunate to muddle through this collapse like we did in 2008 when it was a corporate problem. This time around, it is a national and global problem. The global Ponzi scheme has run out of gas as the demographics decline, as cheap abundant oil declines, as hegemonic power declines," continues Shield.
Peter Yastrow, market strategist for Yastrow Origer, told CNBC. "What we've got right now is almost near panic going on with money managers and people who are responsible for money," he said. "We're on the verge of a great, great depression. The Federal Reserve knows it." And there is nothing they or anyone can do to stop it.
"If you think that the banking system of the western world is strong enough to guarantee the debt of the western world, you're totally out of your mind. That's the reason they'll do everything possible to paper over the Euro crisis to prevent the defaults in order to prevent another crisis in banking that definitively would occur, that absolutely would occur from a default. This fact is ravingly positive for gold. You would have a complete collapse of the western banking system if Greece goes down," writes Jim Sinclair.
The middle classes around the world are being impoverishedThe world is just waiting for the spark to start the run-out of the dollar and our Treasury debt. Any serious financial or natural disaster could trigger the long overdue collapse and bring the Ponzi-type deck of cards down almost overnight on top of us. In the meantime Washington and European governments will simply throw its people's wealth and promised benefits at the problem thus buying them more time to do what they do best - steal all the money and power they can.
just to pay interest on the sovereign debts to the
banking elites who are enjoying the life of the filthy rich.
Concentration of wealth is at obscene levels and these are the people that Jesus the Rabbi talked about when he talked about the rich, the eye of needles and the chances of getting into heaven. From what I have seen these people are not planning on going to heaven and in fact have been spending billions of their dollars building underground centers and complexes. Seems like human hell for can you imagine these people having to live in tight quarters with each other?
Note: This the epilog of a lengthy article I wrote in May of 2006. The essentially explained that the fraudulent fiat monetary system and the insidious fractional reserve system were the primary factors driving our so-called civilization to the brink.
Days of Future Passed
July, 2008 - January 2012
The deepening recession that began at the end of 2007 has forced millions into foreclosure of the houses they paid 30 - 100% too much for, and for most, bankruptcy, as well. Real unemployment is hovering around 25% and wages have plummeted. Corporations remain profitable because they have moved virtually all of their production offshore and cultivated enough growing markets to replace the collapsed US consumer-based economy. Upcoming Presidential elections appear to vastly favor the Democrats, but their candidate, Hillary Clinton, is clearly indistinguishable from the Republican nominee, John McCain. Suddenly, an alleged "terrorist attack" is used as an excuse to cancel the vote, and martial law is effectively declared.
As the desperate population takes to the streets in protests, a vast new arsenal of crowd control weapons are unleashed, and tens of thousands of temporarily disabled citizens are carted off to former military bases that have been converted to prison labor camps. The protests are driven underground and those with sufficient means quietly slip out of the country, most headed to an emerged South American Union that has begun to resemble "These United States" in their first decades after the ratification of the Constitution.
The draft is reinstated, and most of the population is either in the Armed Forces, which have been merged with the Domestic Police, in forced labor camps, or members of some level of State Bureaucracy. Free enterprise has all but disappeared. The US Government declares war on Saudi Arabia, though it is still only able to control its massive bases in Afghanistan, Iraq and particularly Iran. Ground troops on both sides and the local populations alike are rapidly being decimated by radiation sickness due to the widespread use of "tactical" nuclear weaponry including Depleted Uranium projectiles, bunker busters, and even neutron bombs that are increasingly used to reduce populations without harming the infrastructure. The Saudis find that their US supplied aircraft have been sabotaged by hidden remote control devices, and are forced to surrender.
Russia, China, and India lead to a large-scale abandonment of the United Nations, and the establishment of an international body which excludes the US, Britain, most of Europe and Australia. Canada is quietly joining Mexico in merging with the US. Israel has been largely destroyed by Iranian retaliation early in the attack upon it, as was the "Green Zone" in Iraq. It is now, like the US, merely a military garrison that lurks inside the wall it built for that very purpose. For all practical purposes, the Palestinians have been decimated and routed into vast refugee camps in Lebanon and Syria.
The massive US debt has been effectively written off by friend and foe alike, as it has instituted a system of electronic currency that began by renouncing the dollar-based Treasury Securities, and recognizing only the private assets it sees fit. Loyalists keep their money to the degree they are connected to the Military Dictator and remain loyal. All former social programs have been cancelled.
February 2012 - April 2014
In hindsight, the Anglo Bloc realizes that it was forced to begin WW IV before it had consolidated enough power. While it did control roughly half of the world supply of commodities, especially oil, it controlled only a fourth of its landmass and population, and it faced a stalemate on the high seas and in space. The Oriental/South American Bloc took advantage of their impregnable land holdings by virtue of vastly superior missiles that became capable of neutralizing Anglo Bloc offensive weapons, including Intercontinental missiles, stealth aircraft, and space-based lasers that were proving ineffective in the face of burgeoning enemy technology in those frontiers.
It was now clear to all parties that a plateau had been reached wherein there could be no survivors of a sustained offensive to subdue the other Bloc as the climate was beginning to assert itself as the third belligerent. Military efforts to control the weather and create not-so-natural disasters in the lands of the enemy were spiralling out of control, particularly the increasingly desperate measures taken by the Anglo Bloc as its position deteriorated. As 2012 dawned, it was clear that it could not survive an indefinite standoff as its population was shrinking, many due to casualties of internal rebellions.
May 2014 - September 11, 2015
Desperate Anglo Bloc military leaders set in motion a six month plan to initiate a seismic attack on their enemies, it being presumed that its oil reserves were in relatively stable geological areas, whereas the Oriental/South American Bloc reservoirs were largely in precarious locations prone to volcanic and tectonic disturbances. As the "N Day" approached, nuclear weapons and Extremely Long Wave (ELF) antennae arrays were readied for an attack that would trigger massive earthquakes and volcanic eruptions in the Oriental/South American strategically crucial zones. There was little more than hope on the part of the Anglo Bloc that it would be successful.
On the morning of November 11, hundreds of nuclear devices are detonated at undersea tectonic plate intersections, followed by a nuclear powered assault of ELF frequencies that are thought to direct and expand the forces unleashed by the explosions. As an unanticipated consequence, the Earth is jolted off its rotation, with the resulting wobble severe enough to gather momentum, generating world wide earthquakes, tsunamis, and volcanic eruptions. While the tectonic plates that had been set adrift gradually rebalanced the Earth in a new stable rotation, the vast cloud of ash and dust resulted in what became known as the "Long Night. For humans, it was effectively the "Last Night."
Epilogue
More than a century passed before sunlight began to reach the Earth in useful amounts. Visitors from another galaxy marvelled at the frozen world that emerged. All water on the Earth's surface was held in massive glaciers, the oceans virtually empty and barren. Only primitive forms of life could be detected, and it was clear that re-colonizing the destroyed globe would not be possible for at least another hundred years. At least there hadn't been a repeat of the destruction as with the Fifth Planet that was blasted into fragments that the Earthians had called the Asteroid Belt. Little did they know that survivors who escaped that debacle and made it to the Third Planet evolved into the Anglo Bloc. No one ever realized that so-called Cro Magnon man was neither created nor did he "arise", but arrived from the planet he had doomed by his infinite need for power and control. It was a fatal flaw that was now finally extinguished in this part of the Universe.
Well, now, that was exciting. I had no idea it would turn out that way. And to think I was always called a hopeless optimist! I admit that the probability of this scenario being played out is perhaps small, but only a fool would believe it is impossible. Everything in this sequence of events is already in place, at least in the planning stages. As for the Epilogue, I consider its basis to be sound as enunciated by Stan Gooch, and others, wherein Earth's original colonists, the Neanderthal, a peaceful, matriarchal race was superseded by the invading Cro Magnon from the obliterated Fifth Planet, who brought along all the hallmarks of power mad Western Man: one mate for life, private property, and a will to dominate.