Written by Jeff Nielson Thursday, 09 August 2012 10:52
One of the difficulties in attempting to cover developments in the global economy is that often there are flurries of news items which emerge at any one time, making it impossible to deal with all these events as they occur. So it is with respect to an announcement by the European Central Bank on July 20th that Greek government bonds would no longer be “eligible as collateral.”
There are many interesting points for analysis here. To begin with, we see yet another example of these con-men using a slippery euphemism to hide the fact that that their paper Empire of Fraud is collapsing all around us. But there are also many nuances to this announcement, and as we know, when it comes to the mainstream media “nuance” is a non sequitur.
To place this announcement into some context, it’s first worth noting that this is the second time this year that the bankers have “suspended eligibility” of Greece’s bonds, with the last time being literally days before it defaulted on 75% of that debt. With that additional background, we now can fully understand what the ECB actually meant with its euphemism: Greek bonds are worthless.
In turn, this directly implies an even more dire reality: Greece has been declared bankrupt (for the second time in six months). Understand that there is only one small-but-significant step which separates an “insolvent debtor” from a “bankrupt debtor”. While bankruptcy is often inevitable for insolvent debtors, what makes such debtors merely insolvent is that creditors will still continue to extend them additional credit.
Conversely, once the debtor is cut off credit (and unable to pay its bills) then bankruptcy is instantaneous/automatic. Thus we have a cabal of private bankers simply decreeing that all Greek bonds are worthless and (as an inevitable consequence) Greece as a nation is bankrupt. Am I the only person who sees a problem with this?
Once upon a time, Western nations (and their peoples) enjoyed a concept called “sovereignty.” By no coincidence, we enjoyed our sovereignty during a period of history when we practiced a concept known as “the gold standard.” With any nation practicing a gold standard, no cabal of foreign bankers can simply decree that a nation’s bonds were worthless – because they would be backed by gold – and thus no cabal of foreign bankers could decree that your nation was bankrupt.
In other words, yet another of the many benefits provided by a gold standard is economic sovereignty. With it, economic sovereignty is assured. Without it, we are at the mercy of a crooked Banking Oligarchy which has committed more fraud (by dollar value) just in the last decade than all the fraud by all the rest of humanity throughout all of human history, combined. But this is merely a tangent to an even more interesting aspect to this story.
At the same time that Western bankers are in the process of re-elevating gold to its rightful status as the ultimate monetary asset, they have been forced to steadily demote and devalue various forms of their own (fraudulent) paper. Obviously with any con-men running a scam, maintaining confidence in the scam is of supreme importance – hence the original term: “confidence men.”
Thus the absolute last thing which the banking crime syndicate wants to do is to erode confidence in the very paper instruments which they use to commit their serial acts of mega-fraud, such as the $350 trillion LIBOR-fraud. So why are they doing this? The phrase “rats deserting a sinking ship” captures this dynamic quite nicely.
The banksters are decreeing that some of their paper is already worthless/near-worthless as an act of final desperation: acknowledging the worthlessness of some of this paper in order to avoid having the Sheep collectively realize that all of their paper is totally worthless.
Written by Jeff Nielson Tuesday, 07 August 2012 13:53
As few people in our societies even know, all of the world’s governments have (foolishly) granted exclusive monopolies for the printing of all the world’s currencies (our “money”) to a cabal of privately-owned corporations called “central banks” – given that name because it is a cabal exclusively owned/operated by bankers.
Understand that the monopoly to print money is nothing less than a license for economic rape. These private banks lend us all the paper that they print out of thin air (at zero cost to themselves). The result is that after roughly 100 years of this economic rape we have (collectively) paid these banks $trillions in “interest” for nothing, and currently owe them $10’s of trillions for nothing. History’s single greatest act of legal theft.
Indeed, these bankers have stolen such unimaginably huge sums of wealth from our societies that the Thieves now voluntarily return most of the additional amounts they steal each year. There are two reasons for this act of pseudo-remorse. To begin with, with the Little People drowning in debt individually, and with our nations drowning in debts collectively; the Thieves were/are worried that their Victims might actually notice them sitting on top of their mountains of (stolen) money.
However the second reason – the real reason – is that the countless $trillions that these central banks have stolen from us are literally just the tip of the iceberg during their reign of legal-crime. This private cabal of central banks has not only been given monopolies to print money out of thin air for their own benefit, but thanks to the abominable euphemism which they call “fractional-reserve banking”; they are allowed to delegate their License to Steal to other private banks.
Specifically, for each dollar that the central bankers lend to their other banker-friends (at zero/near-zero interest rates); these private banks are allowed to print ten more dollars out of thin air, and lend them to the Little People (at higher rates of interest). Thus the central banks don’t mind returning most of the additional money which they steal each year, since their own thievery only represents 10% of the total banker-plundering of the wealth of all economies.
What is the inevitable result of a capitalist system where every new dollar that is used to fuel the economy is lent into existence? Debt Slavery: the ultimate goal of every (paper) fiat currency system.
There is now somewhere in excess of $200 trillion in debt sloshing around the global economy, most of that debt being totally fraudulent, in that it is interest paid to bankers (literally) for nothing. Somewhere around 25% of every dollar earned by all of our Western economies is now paid to these banker-parasites as interest on their fraudulent debts. The bankers would like to steal even more, but already all of our economies are teetering on the verge of bankruptcy.
Greece was already forced to default, and the U.S. (the world’s largest Deadbeat Debtor) is only able to ward-off debt-default by fraudulently maintaining its own interest rate at zero percent. Put another way, if U.S. interest rates had ever reached the same level as those which were inflicted on Greece by Wall Street’s economic terrorists; the U.S. would have defaulted even faster than Greece. It would have required the U.S. government to quadruple tax revenues just to pay the interest on its own (fraudulent) debt.
Having enslaved us all with debt thanks to being granted their License to Steal, history’s greatest thieves are also history’s greatest hypocrites. Whenever one of our (subservient) governments has the audacity to actually suggest taking a closer look at the bankers’ Theft Monopoly; the Thieves look down their noses, point their fingers at us, and accuse of us “threatening their independence.” Yes, there is no one who places a higher price on his own freedom than the Slave Master. What about our independence?
The latest example of this supreme hypocrisy comes from (surprise, surprises) Benjamin Shalom Bernanke. Feeling especially pleased with himself after his two-day love-fest with the banker sycophants of the U.S. Congress; B.S. Bernanke chose that moment to launch yet another attack at Rep. Ron Paul – and his “Audit the Fed” bill.
Bernanke’s specific accusation? As paraphrased by the Corporate Media, Bernanke whined that “the ability to review monetary policy decisions…could compromise central bank independence.” This is by no means a new argument. Indeed, it is the Big Lie which the banker-thieves have hid behind for a hundred years – since it has never had a shred of validity.
The Big Lie is based on the artificial/arbitrary distinction of all economic policies as being either “fiscal policy” (the realm of government) or “monetary policy” (the realm of private bankers). The obvious fiction here in attempting to create some invisible wall between the two groups of policy-makers is that there is only one economy.