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The Bankster Economy

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      and why it's falling apart

      The first bank loan was made on an Italian bench. Hence the word bank. Now the world is drowning in debt. The first book Gutenberg printed was a beautiful Bible. Now I'm going to connect the two events.

      When taxes and pillaging conquered lands wasn't enough to pay for continuing the warfere, rulers borrowed money, and the banking system was born. If people were smart, which they weren't because all they knew was Bible stories, they could have stopped the rulers from continuing the ruinous war economy and making everybody debt slaves. So the great Gutenberg didn't bring enlightenment with his famous Bible immediately. Others using his invention soon printed books with plenty of Refomation enlightenment though.

      The banksters' business model of making everybody debt slaves is reaching the limits of its efficacy fast, because the economy is slowing down, burdened by having to use an increasing part of GDP to service debt.

      For a while I've been wondering why a group of people with unlimited resources and power continue propping up the unsustainable system they've created. Many now see big changes coming, and my hope is that the ueber-elite will learn really fast that they can make even more money from a well-functioning economy and consolidate their power and control when people have what need and are happy and content instead of committing crime and terror. So I'm not trying to change the world order, but simply trying to show that win- win for everybody works better than massive levels of conflict and povery.

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      Brexit Fragility

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          Mark Carney, BOE - Bank of England - chief doesn't even dare talking about raising interest rates like the Fed does. In a Bloomberg jingle that plays all the time he says that the UK is entering a period of significant economic adjustment. So added to the fragility of the whole developed world, the UK has taken on the added burden of Brexit. The banks are fleeing the City. Without the strong financial sector, there will be nothing special about the UK. Far from greatness again in the original part of Angloland, the last vestiges of former greatness are fading away...

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          The Blowoff Stage

          Yes, it's happening

          Very recently I wrote a post about this, saying that we're not quite there yet. Now there's new info from a somewhat faded hero of mine, David Stockman. He's an ex DC and Wall Street insider, but sadly a Chumpsterbaser. Anyhoo, I fully accept what he's saying about a subject that pols are clueless about and unable to do anything about: The real state of the economy and what's about to happen.

          So that's where we're at, the last exuberant stage where stock prices are only based on hopium-fuelled expectancy of said prices growing into the heavens forever and ever. That of course, can't happen...

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          New

          Insurance Companies Will Have The Last Word If Federal Support Ended.

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              Here is how they could do it.

              We see insurance premium notices, so the insurance companies will reach every customer. Here is what they put on those invoices:

              Normal ACA premium...................: $250

              Surcharge by Tiny Thumbs Trump: $150

              Pay this amount..............................: $400

              Did Tiny Thumbs Trump give *you* get a tax cut of at least $150/month to offset this additional expense?

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              Jim Grant

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                  doesn't blather all the time

                  but when he does speak, he's well worth listening to. On July 14th he brought out this very important point: The Fed - and all the other central banks - can't guide and steer the economic events. The events make the policy makers react.

                  Here's my take: The central banksters can neither lead nor react with the right medicine, because they're beholden to banksterdom, not the economic well being of real people in the real economy. The evidence is everywhere, in rising asset prices making housing unaffordable for many people, lousy wages and rising living costs, etc etc etc.

                  What was a protection mechanism for the banking system has become a Soviet central planner. That's why I call them central banksters, because they're inverse Robin Hoods.

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                  Is It A Plan?

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                      Or "only" a consequence of geopoliticking?

                      They'd better be careful what they wish for, those who want to see the end of the EU and the Euro. In this interconnected world, especially regarding finances and banking, if one major area goes down, so does the world.

                      The unsustainable, debt ridden world economy will crash, but nobody knows when or what the trigger or first dominoes to fall will be. There certainly are several fragile situations worldwide, whether it's the Syria war affecting Europe or anything else.

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                      Can You Believe It?

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                          Yella Jane just repeated history!

                          The WH is the 1933 Reichstag, which burned down interestingly, and it's 1929 all over again on Wall Street. The Fed Head said it the other day, no more recessions! In 1929 the market had reached a permanent high plateau right before the crash, according to the then Fed Head.

                          Today, unlike then, the main central banksters are coordinatedly making the markets dance as if they all had Harry Potter wands. Reality is getting tired of the wizardry of massive distortions created by the manipulation. The real economy will show up and threaten mass destruction, but Central Banksterdom has a plan, the IMF SDR and what we can call the WES, World Economic System.

                          The problem with that is that central planning was tried in the Soviet Union where it failed, and is still going on in Commie China making the economy dangerously unstable.

                          They talk about wanting inflation so that interest rates can be normalized. There's two things going on here, ignoring the plight of ordinary folks, and putting the cart before the horse or wishing for something bad so they can become the saviors. Inflation pushes up asset prices such as housing, making it unaffordable for most people. At the same time incomes are smaller. It's 1970es stagflation all over again.

                          The bottom line is that World Banksterdom is looking out for itself. That wonderful tool called debt enslavement was created on an Italian bench - the origin of the word bank - centuries ago, but that game is soon over. The Earth can't take it any more, more and more people fighting ach other for fewer resources. A very humongous reset is needed. The banksters will try to do it, but can't because they won't let the markets and the economy work. I fear that WWIII will happen in a not too distant future, because we humans don't do big, fundamental changes voluntarily.

                          My basic thesis is that grinding down the lower classes can't continue forever. It quite simply isn't sustainable. Prosperity for all means win-win also for the ueber-elites. They'll extract even more wealth from productive lower classes and consolidate their power, and the world will be peaceful and stable. Automation started eliminating the need for large new generations of workers already two and a half centuries ago, and when the world poulation eventually shrinks, pressure will be taken off the Earth's resources.

                          Sorry, that rant was quite a mouthful. Sometimes I connect too many dots I guess...

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                          Confidence Boomed After The Election. The Economy Hasn’t.

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                              The Great Orange Hope

                              Trump is a conman of considerable skill. He convinced many of America’s business leaders that he was going to create an economic boom. Following the election there was great enthusiasm, but there seems to be a problem; the efforts of the great orange hope aren’t translating into reality.The anticipated boom has not arrived.

                              https://www.nytimes.com/2017/07/04/upshot/confiden...

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