A few weeks ago Matt Taibbi said in a 14 page article in Rolling
Stone said that the Conspiracy Theorists were right and that every
market was rigged by the bankers. And that included interest rates.
commodities, Credit Default Swaps and the gold and silver markets. This
has been confirmed by the courts and the securities markets. BP and
Shell are being investigated in Europe for rigging oil prices. If the
CEO of a small company were arrested, the stock price would go down. But
BP and Shell stock prices remain unchanged. JP Morgan, HSBC, Wells
Fargo-Wachovia and Goldman Sachs have all had legal difficulties but
walked away from the courts with no jail time and fines that were a
miniscule fraction of the money involved.
This confirms that the courts, the regulatory system, the politicians
and the media are fixed and it is not just the 2.2 trillion dollar
petrochemical markets that are run by the banks. The oil company
executives and the bankers know they are not going to jail.
Stacy Herbert made mention recently of 40 charts that used to
correlate and give us an idea of what is happening in the real world. In
the old days unemployment used to indicate economic activity and hence
stock price levels. No more. Now stock prices and employment do not
correlate. We are in the midst of the greatest recession in decades with
record breaking low employment levels yet the DOW 30 and S&P
indices could not go higher. That is without even more help from the
Federal Reserve.
Total company debt and the interest rate they have to pay bear no
relation to each other. In fact some companies with the greatest debt
levels pay the lowest rates. The Federal Reserve loaned out 7 trillion
dollars at 0.01% interest. I doubt that money was loaned to the most
credit worthy organizations with plans for innovation and expansion who
wanted to hire thousands of new employees. Instead the money was loaned
to speculators who wanted to double the price of food and energy. Blythe
Masters of JP Morgan bought older electrical generation plants while
Obama and the EPA shut down her competitors doubling utility rates in
some areas. Also money the FED loaned to news organizations like MSNBC
that lie to us. Their ratings are faked but even those phony rates are
plummeting. They are a poor credit risk but that does not matter. The
Banker Occupied Government does not want you to ever hear the truth. If
you did hear the truth on TV, the bankers and the politicians would be
in jail.
Dr Michael Hudson was made famous by his book Super Imperialism in
which he explained how the US was paying for its wars and military
occupations by printing dollars. People overseas paid for their
occupation by accepting US Federal Reserve Notes as if they were gold
coins because they are printing an international reserve currency. Today
the US admits to have troops engaged in combat related activities in 74
countries.
Hudson’s latest book is The Bubble And Beyond. He correlates obvious
market manipulation with the creation of a lifetime of debt. He says we
have moved past industrial capitalism to Finance capital. We used to
make things. Now the product is money. The object of Finance Capitalism
is to create mountains of Unpayable Debts to enslave us.
Hudson in an interview mentioned the US trillion dollar student debt
as holding down working people who want to make a living sufficient to
buy a house. Of course student loans were abused by the system to give
educations and even scholarships to people who might to have been
learning a skilled trade so we could get back to making things.
Half of today’s American college grads cannot find full time jobs.
The average college grad has $28,000 in student loans and almost $4,000
in additional credit cards.
Obama and Bush have been allowing their man Ben Bernanke at the
Federal Reserve to create money by the tens of trillion not to create
jobs but to raise the prices of assets. To do this Hudson points out
that Bernanke must keep interest rates low. At 3% you can handle 6 times
as much debt at 18%.
A 3 bedroom house in San Jose that could have been bought for
$25,000 in 1964 this month sold for $805,000. Catherine Austin Fitts in
an interview once said that one reason for all the legal and illegal
immigration was to drive up housing prices and to keep that Bobble
going.
Another source of outrageous interest rate burdens on taxpayers is
government debt. Total US federal and local debt is more than 21
trillion dollars. The government gave the right to privately owned banks
on 1913 to issue out currency as a loan at interest. Since the money to
pay the interest was never created at the time of the originating loan,
the banks must create additional money to pay for the interest in the
second round of loans. Interest on the federal debt is 535 billion
dollars. And there is an additional 100 billion dollars in local and
state government interest rate payments making life unbearable for
working people and small businesses.
Obamacare raised the cost of medical care and required everyone to buy over priced insurance.
Dr Hudson gave an example of a young couple with high paying jobs and
mortgage and student debt who next year under Obamacare will be lucky
to keep 25% of their gross income after taxes and payments. That is all
you have to buy food, gasoline, utilities and clothes. All but the last
have been deliberately kept expensive which further enslaves us to
Unpayable Debts. If you add up federal. state and local taxes, payments
on student loans and mortgages plus mandatory over priced health
insurance, you will understand why Hudson said the economy can never
recover until we have Debt Cancellation.
The purpose of this system is to lower our wages and further enslave
us to debts even though they created all that money out of nothing.
This situation cannot last. The Japanese are printing yen with wild
abandon, They have cut the value of the yen by a third and doubled the
interest rate on long term government bonds. Raising interest rates and
and lowering the value of the currency is how this Bubble will end. As
Professor Steve Keen said, we have the greatest Bubble of Unpayable
Debts in 500 years. Depressions cancel debts, we can only conclude that
we are therefore headed to the worst Depression in 500 years.
I will conclude with what I have said before.
The Fundamental Fact of Your Existence as a modern man or woman is
that the bankers of New York and London want to reduce you to Debt
Slavery.
Accept that fact and move on to the solution.
That is their plan for you.
What is your plan for them?
Related Articles:
This Is Your Final Warning: The Worst Financial Disaster In 500 Years Is Nigh
http://vidrebel.wordpress.com/2012/09/14/this-is-your-final-warning-the-worst-financial-disaster-in-500-years-is-nigh/
Blythe Masters Tells How The World Really Works
http://vidrebel.wordpress.com/2013/05/15/blythe-masters-tells-how-the-world-really-works/
Catherine Austin Fitts On Genocide And The Looting Of America
http://vidrebel.wordpress.com/2012/03/04/catherine-austin-fitts-on-genocide-and-the-looting-of-america/
$43 Trillion + $36.5 Trillion + 1 Computer Virus = 1 Big Fraud
http://vidrebel.wordpress.com/2012/11/07/43-trillion-36-5-trillion-1-computer-virus-1-big-fraud/
Joe Cortina, Gaza And The Limits Of The Israeli Empire
http://vidrebel.wordpress.com/2012/11/25/joe-cortina-gaza-and-the-limits-of-the-israeli-empire/
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