When I got off from work and decided to start writing my second post I was overcome with a nasty case of writer’s block. My first effort, The Basics, was pretty easy to write; I just got fired up and wrote a little bit about everything. Coming up with my second article was much tougher because so many topics were flying through my head at once. Should I cover the fact that Al Qaeda leads the NATO-backed “Rebels” in Libya? Naw…maybe I’ll go over the travesty that is the exclusion of 9/11 First Responders from the 10th anniversary memorial service? Then again, the formation of the “Super Congress” / ”Council of 13” is pretty unconstitutional, so maybe I can mention that tidbit. Then, at the behest of a friend, I decided to stick with the overall theme of my blog: Exposing the bankers and informing my readers about the economy and its future. I’ll get into the other stuff soon enough, don’t worry.
So here we are, 2011. Nearly three years ago our nation faced a potential catastrophe. What had begun as a ‘temporary Bear Market’ in the last quarter of 2007 evolved into a full panic and a run on the system by September 2008. I can distinctly remember checking CNBC one afternoon at work and seeing that the Dow was down 200 points. Refreshing the website not more than 20 minutes later, I was surprised to see that it had fallen another 150. Over the next hour I watched the market in real-time as it continued its plunge, eventually shedding more than 750 points, or $1.2 Trillion (with a Capital T) before the close. That session still holds the distinction of being the largest single-day drop in the history of the Dow Jones Industrial Average.
I was kind of freaked out, and so were millions of others. A month earlier I had been told that I was going to be laid off at year-end, and this sure as hell wasn’t going to help the job market. The catalyst for this mass sell-off was the failure of Congress to pass a banker bailout bill. Well, the real catalyst for this was the repeal of the Glass-Stegall Act and the intentional release of toxic derivatives to every last niche of the financial system, but I digress. Anyway, you probably know what happened next: Treasury Secretary Henry Paulson and his crew of Goldman Sachs/JP Morgan/CitBank/Bank of America cronies went to Congress to discuss the ‘importance’ of passing a bailout. By ‘importance’, I mean stressing that the entire economy would collapse and there would be martial law on the streets of America unless the Too Big To Fail got some sweet banker welfare. Nothing gets a banker wet quite like privatizing return and socializing risk. Realizing that they had been pinned in a corner by , Congress opened its pocketbook and signed our lives away to slavery via fiat debt.
What is fiat debt? Well, in simple terms, it’s the creation of debt (or money) from nothing. The funds for the banker bailouts and quantitative easing (read: Phunny Monie) did not come from a vault under Ft. Knox. The Federal Reserve (which is neither Federal nor a Reserve) has been printing money hand over fist for the last several years. In fact, to say that the Fed was ‘printing money’ is a misnomer in of itself; all of this debt was created via a stream of 1s and 0s somewhere out in cyberspace. Unfortunately, the American taxpayer is now on the hook for all of this, including interest payments to the Fed. A future article or three will delve into the nitty gritty of this forced bondage, but know that, at this rate, your grandchildren will still be paying this debt after you are long gone. Well, in theory they would still be on the hook…in reality, they’ll be true slaves, if not dead, unless we Dethrone.
“So all this talk about ‘Banksters’ and ‘debt-slaves’…you still haven’t told me why I should give a shit.”
There are two words that describe what’s coming our way and how the Banksters will directly affect, and likely ruin, your life: Inflation and Austerity. In the next six to twelve months we will see a wicked combination of spending cuts that are coupled with an extraordinary increase in the price of everyday goods. Those living on a fixed income will be the first and most obvious casualties of inflation and austerity, but they will just serve as a harbinger of what’s to come for the rest of us. In the United States of America there are currently more than 45 million people on food stamps, with millions of additional people on unemployment. I’m not knocking on these people; I took a year’s worth of unemployment after being laid off and I’m pretty damn happy I had it because it allowed me to get my Master’s and find a job. That whole ‘get knocked down 9 times, get up 10’ thing that America is supposed to be all about. I won’t lie and say that unemployment didn’t make me a bit lazy, because it did. I could have worked at Subway instead of taking government handouts, but instead I took that sweet citizen welfare. With that said, those 10s of millions of people feeding from a digital bread line are currently scraping to get by, and most of them don’t have a Master’s in Finance from Purdue University. What’s going to happen when prices double and their citizen welfare stays at the same level, or is cut? Millions of children are already suffering from severe malnutrition, crime is going through the roof, and soon enough the riots will start. Once the riots begin in the inner-cities, non-believers will finally know that there is no ‘Recovery’ and the Greatest Recession has truly begun. Unless you’re at the top of the economic food chain, you’re next, whether through inflation or unemployment. If you’re not worth more than $150 million, you’re not at the top of the food chain.
That’s enough for tonight. I’ll get into economics and the market in much more detail in the future. For now, remember this: The Banksters create chaos to pose as our savior. They created this crisis, they are going to intensify this crisis, and they will ‘save us’ from this crisis. Yea. Save us.
Don’t forget to subscribe to the blog and share with your family and friends!