‘Austerity Measures’ Attack the Wrong Kind of Debt

Kevin Boyle – No One To Vote For June 24, 2011

I can not claim to fully understand the banking system and all the devious ways it finds to make a profit without itself producing any material thing that is of use to anybody.

What it does create is fiat money (an abstraction, a medium of exchange that is recognised by governments and therefore by the governed).

One of the most basic and obvious things we all realise about this banking system is that it makes its owners extremely, incredibly, monstrously rich. It makes those who run the system merely ‘rich’….and leaves the great mass of humanity in a position somewhere between ‘comfortably enslaved’ and ‘absolute destitution’.

Another small (or maybe large) breakthrough in my understanding of this racket occurred when I watched Australian Professor of Economics, Steve Keen, being interviewed by Max Keiser here.

His analysis bears repeating.

It is not ‘rocket science’ but he exposes yet another fundamental and concealed aspect of the fraud that has been perpetrated against the honest citizens of the world since the introduction of this satanic system.

TWO KINDS OF DEBT

There is PRIVATE DEBT and PUBLIC DEBT.

PRIVATE DEBT

This is the kind of debt created by the private banks with no government involvement, i.e. mortgages, personal loans and (much more significantly) debts resulting from the gambling activities of these banks on the international markets. Webster Tarpley and others called these debts, the result of the creation of a massive ‘derivatives’ bubble, the cause of the 2008 banking crash. The banks have created about $ 1.5 Quadrillion dollars worth of these ‘assets’. $1.5 Quadrillion is $1500 Trillion or $1,500,000 billion (about 10 times the value of everything on earth). When dealers collectively realised that the ‘goods’ they were buying and selling were fraudulent the system collapsed and the banks were ‘skint’.

This PRIVATE DEBT, not public debt or any action taken by our governments nor any actions of our own, created the crisis. We sort of know this.

PUBLIC DEBT

We also know that the banks were saved by the creation of PUBLIC DEBT. That’s US putting money into the system that (don’t laugh) WE BORROWED FROM THE SAME PENNILESS BANKING SYSTEM. And herein is the heart of the scam against humanity, but we’ll let that pass for the moment.

Every victim country of this scam has been told that their problem is TOO MUCH DEBT so we have to ‘cut back’ to reduce that debt.

As Keen brilliantly points out, this is like a psychopath coming along with an axe and chopping your arm off. Next a doctor rushes in and applies a tourniquet to your wound to stop the bleeding.

The axeman then accuses the doctor of causing your arm to fall off.

NO.

Public debt (the doctor) is not the problem. Private debt (the psychopathic axeman) is the problem.

Our focus should be on dealing with the Private Debt (debts incurred via bank lending and trading).

We should not be attacking ourselves because of public debt. We should be dealing with the private debt.

…..The best solution is to let the banks fall and begin creating our own money debt-free…..

But even if this is not going to happen any time soon, we should realise that are not “living beyond our means.”

The money system does not operate like a household budget.

REPEAT. THE MONEY SYSTEM DOES NOT OPERATE LIKE A HOUSEHOLD BUDGET.

WE KNOW THAT THE CONSEQUENCE OF THIS MINDSET (DELIBERATELY CREATED FOR US BY THOSE WHO PROFIT IT) IS THE TRANSFER OF REAL WEALTH FROM OURSELVES TO THE CRIMINALS WHO HAVE ALREADY ROBBED US ONCE.

Look at Greece. As Keiser reports it is crawling with parasite international financiers expecting to buy Greece’s assets, its water, its airports, its docks etc for ‘cents on the dollar’ because Greece ‘cannot pay its debts’.

In this crooked game the point will always be reached where nobody can pay their debts.

The 2008 engineered destruction of the banking system was a prelude to the greatest theft in history. The Protocols of Zion describes this method of destroying and occupying nations very clearly. The Press will support the banking criminals and the end-game is war.

A MAJOR MECHANISM OF WEALTH TRANSFER

Bankers are paid according to their ability to inflate the money supply, i.e. create debt. While increasing debt rewards them proportionately* we must accept ‘austerity’, i.e. cuts in wages.

So….as the people lose money the bankers gain again. They profit both from debts created and from the inability of people to repay their debts as an economy shrinks.

The thing is if we really want to deal with the main problem, private banker-created debt, surely we should be reducing that debt as a fraction of the total money supply.

We could do this by INCREASING WAGES.

This would cause inflation and would probably not make anyone directly richer but it could be managed in such a way as to reduce the relative size of the private debt burden that so threatens the people.

A strategy of job creation and high rates of pay would push back the significance of debt and the bloated incomes of bankers compared to the size of the overall economy.

i.e. a fairer share of the wealth would go to the people who create it.

OK, we know this won’t happen, but we need to be armed with an awareness of these issues in order to challenge the bullsh*t that is destroying us.

WE MUST NOT LET THESE LYING LIARS CONTINUE TO ROB AND ENSLAVE US BY THEIR LIES AND BY THEIR CONTROL OVER THE LYING POLITICIANS WHO PUT A WILLING FACE ON THEIR LIES FOR THE SAKE OF NARROW PERSONAL ADVANTAGE. AN ADVANTAGE THAT THEY WILL ONE DAY, PROBABLY QUITE SOON, REALISE WAS NO ADVANTAGE AT ALL.

In the end PUBLIC DEBT will be eliminated by governments taking back the power of money-creation to themselves from private banks.

PRIVATE DEBT will be eliminated by turning the clock back a few hundred years and MAKING USURY ILLEGAL or, better still, a hanging offense.

* Is it not also mad that debt is written into a banks books as an ‘asset’. What, therefore, is the borrower paying interest on exactly….when the full sum, instantaneously and magically, is realised by the bank the millisecond the ‘loan’ is created for a customer?

Source

Teacher (physics/maths), would-be Christian, pro-community, anti-hierarchy.

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