Just Blame the Banks

financial chaos

“I think this is a time where people will look back on us and see it as a period of practically central bank worship.”
- Jim Grant

Central bank equals big private-publicly owned banks. The populace still holds a collective deference for the banks. The view that the political financial alliance is the problem is still a rare one. Always one step from conspiracy.

"It is well enough that people or the nation do not understand our banking and monetary system for it they did, I believe that there would be a revolution before morning".
-Henry Ford Sr.

Perhaps, but I think this is a time when people will look back on us and see this moment as the tipping point where the average man began to understand modern finance and monetary system. After all, I am writing these words, and you are reading this.

Our monetary system is a paper tyranny and an underlying threat to everything people hold dear - even the elite.

Loss of jobs
Declining culture of work
Dwindling opportunity
Perpetual war
Massive wealth redistribution
Deficits and taxes
Student Loans and Impending Defaults
Subprime Car Loans
Equity, Bond Bubbles
Food, fuel, health care education inflation

Savings have been stolen through zero interest rates and compounded by inflation. They have distorted the returns on investments by inflating the money supply.

They have deliberately manipulated interest rates, LIBOR, the housing market and, through fraud, destroyed the home equity of millions of homeowners - resulting in foreclosures for others.

Civilized societies in a state of prosperity tend to have a stable medium of exchange and property rights...

The political-financial elite are destroying the purchasing power of the dollar, and thus private property, through inflation. But the average man has no voice in this struggle - if he is even aware.

People have forgotten what they want...that is what is preventing the revolution. People don't know they are captive. They don't feel it. If they do feel anything - it comes direct from propaganda,
The bridge over the perceivable gap in standard of living has been built on the backs of the people - with debt. The banks are the main benefactors - and they manage to place the blame for the inevitable and ultimate crisis on the little guy using debt and guilt, failure, fear of loss.

True, many people game the system, but any collective gaming of the few who get away with it on the street pales in comparison to the massive frauds perpetuated by the largest banking cartels to ever have existed.

They've politics, presidents, wars, debt, guilt, lobbyists, and the media to fulfil a belief that enough power can overcome alchemy. (As a simple matter of course, they would need to handle the precious metals along the way).

In the process they have reduced the standard of living for 90% of Americans. Fed policy tools guarantee that everyone is so inured to their system that when they implode the whole thing to rubble next, no one will have any choice but to be under their centralized world total control system.

Or so THEY think anyway.

Massive deficit spending erodes the dollar while transferring the difference from the people (who earned the money) to the government and the banks. Now, the richest nation on earth is insolvent with a debt that is unsustainable and an economy in chaos.

Worst of all, the Fed, dating back decades, has destroyed the sovereignty of not just the U.S. but entire nations - in the name of cheap commodities and labor that ultimately enrich the companies their member banks serve.

At the end of the road is a world government that the bankers will control through their power and wealth.

In part, they will take it back by demanding to keep the fruits of their labor. They are doing it now, under the table, as the official labor force shrinks away.

This in not 2008...

What we saw in 2008 was a massive containment. The mainstream was taken by surprise. I remember watching it all finally unfold, thinking that this was it. Playing out exactly as expected.

The most obvious bubble, housing, was imploding. But something happened that felt strange. The real punishment. The event that should have ended housing as a financial asset never came.

Instead, the bailouts were directed toward saving homeowners and reinflating the stock market. There was a panic to maintain the myth. So many voters were homeowners. Home "owners" held mortgages and 401k's.

Then came TARP, TALF, HAMP, and more additions to more facilities than you can possibly imagine.

Help for the foreclosed. GAAP rules changed to help balance sheets. Yet those who would suffer the most don't hold mortgages. The hope was that the lessons would be learned. Victory gardens would become a real trend instead of the hobby of "champaign socialists".

It soon became obvious that the solutions were on one hand predictable, yet on the other hand totally acceptable.

And so it went on and on. QE worked to reflate the bubble. It wasn't the real crisis. It was a small crisis.

In the time that has passed, trading has become more dangerous new automatic and programmed. Now there is more debt. More accounting tricks.  More data manipulation.

Blatant. Everyone knows it. But the main players cannot afford to step out of the way.

And it's getting ready to roll over again.



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