Government debt as percentage of GDP globally. (2009 estimates) (Photo credit: Wikipedia)
Short Video: Why the U.S. Government Will Default on Its Debt
09-28-2012 • http://www.garynorth.com, Gary North
The deficit of the U.S. government cannot be sustained. The general public does not understand this.
Paul Craig Roberts: America, The Next Banana Republic
09-28-2012 • http://www.prisonplanet.com
Alex welcomes American economist and Infowars contributing writer Paul Craig Roberts to discuss the impact of European austerity measures on world markets amidst ongoing riots.
Video: World Banker Makes Stunning Confession
Posted: 02 Oct 2012 12:16 AM PDT
The economic crisis should make people realize that banksters have deliberately lent too much money, knowing it will lead to chaos. Some at the top want to sit in international financial commitées to monitor the world economy as some kind of legislative and regulatory officers. But first they need currency crashes, instability and a global downturn. Perhaps a third world war. Then people will call for a tightly regulated not competitive market. China is a test for how the world government might work.
Posted in Banks, China, Currencies, Debt, Financial Institutions, Globalisation, Public Debts
Tagged Austerity, China, Gary North, Iran, Next Banana Republic, Paul Craig Roberts, United State, US government
There’s a 39-page document that landed in my mailbox. Whilst it has been compiled with Australians in mind, it applies to absolutely everybody in our world. After all, “globalisation” is the name of the game…
Posted in Bank of England, Banks, Campaigning, Central Banks, Debt, Globalisation, Inflation, Monetary inflation, Money supply inflation, New World Order, Online activities
Tagged banking, finance, Globalisation, money system, New World Order
This is a great post from Michael Meacher MP on his blog – about long term thinking and the bizarre arguments behind cuts, cuts, cuts in public spending – led by the OECD, the Bank of England and the G20.
I commented and congratulated him. Maybe he’ll come to one of our next meetings…
An analysis of budgets since 2001 in the context of public debts reveals the turning point that the crisis caused. See Budget 2010 and Budgets 2001 – 2010. All numbers refer to £bn, i.e. billions of pounds.
The crisis jump of the deficit
When adding this year’s budget, the trends become obvious, and the purpose becomes clearer, for those who are willing and able to see:
- the increased dependency of a national government on the international supply of capital – for the price of interest payments
- the built-in budget deficit guarantees the continued dependency on public debts
- Cash as a medium of exchange has been virtually replaced by Credit as a tool for control.
In the global context, this means:
- globalisation is the code word for centralisation of power into financial institutions, just as Michel Chossudovsky, professor of economics, says on his video The Global Financial Crisis
- power over nation states is wielded by controlling their currencies
- the erosion of the value of a currency happens because of the money supply being abused to control interest payments for the financial industry rather than used as a medium of exchange for the real economy.
The popularity of the Robin Hood Tax, feared by the banks, loved by the poor, may influence the minds of politicians, but central bankers don’t need to care about us as bank customers; they care about finance ministries.
And thus it remains to be seen whether the media continue to buy into the idea of a credit crisis, or whether analysts who blog may get their opinions heard.
This post is a ‘rant’ by the grandfather of all LETS (Local Exchange Trading Systems), the most remarkable John C Turmel from Canada, an engineer, a professional gambler and former casino owner, accordeon player and poet. And the most committed activist I’ve ever come across.
Capitalism should be called “interestism”. Maybe then more people would understand the myths they are believing…