Thoughts of demonstration, passive resistance and eventually all out rebellion are crossing the minds of more and more people across the West.
We have entered the final phase of this monetary system that since 1913 gradually spread from the USA, t0 Europe and then to the rest of the world. Classical monetary policy has lost traction which means:
– locked and/or declining credit markets
– financial value far in excess of underlying economic intrinsic value (derivatives are instruments worth several times the value of the item they are based upon – the BIS estimates that derivative notional value outstanding is US$650Trillion however, global GDP is barely US$50Trillion. Worse still one third of total notional value is concentrated in five global banks: Citi, JPMorgan, Bank of America, Goldman Sachs)
– excess production capacity
– increasing unemployment
– decreasing tax revenue at local, state and federal level
– thus decrease capacity for the state to provide social services
This mixture results in a revaluation lower of any assets brought about by declining consumption.
In turn this means that the pyramid of derivatives that has been built on whatever tangible underlying assets exist must be drastically reduced.
This means that someone has to pay-out some significant amounts of money.
Which in turn means higher unemployment and still lower tax revenue for the state but a concomitant extraordinary rise in sovereign debt.
This means the state will have less and less money to provide social expenditure but must find sufficient funds to keep the banks afloat in a bid to maintain the whole rickety structure standing as long as possible.
You let this go on long enough and you will end up with a revolution on your hands.
Hence the need for a war. But this next war won’t be your garden variety inventory war like we’ve had since Korea. This one will be an old fashioned war where civilians will either be packed-off to the front or, if old or not able bodied, will be absorbed by civilian industry that will be converted to war industry. Food and energy rationing will be part and parcel of the new normal for a few years.
The alternative to a global war of course is to let revolution happen at home. And that’s something Western politicians cannot contemplate.
War it is.
The article offers a third way. But the only legal and bloodless third way available to the general public, is to wrest the controls of the monetary system from the clutches of the central bank and return it in the hands of the representative of the people. In the USA it would be congress. In Europe it would be the various treasury departments of the state. There is a way to force the monetary system to return under the control of its rightful overseers; it is legal and it is bloodless. But for this option to be viable, it requires the general public to understand how our monetary system works, what the implications of this particular monetary system are, what the alternatives are and, above all, it requires the public to realize that this particular system we are currently on was imposed unilaterally and arbitrarily upon society by incumbent politicians with nary a debate anywhere, ever.
Henry Ford famously said: “If people understood the banking system, they would revolt.”
The monetary system belongs to the people. If interest must be paid on money, it should be paid to the state rather than a third party that operates for profit like banks do.
Tags: central banks, credit markets, criminal government, deflation, dissent, fiat money, fiduciary duty, interest, monetary policy, passive resistance, revolution, social unrest, war, white collar crime