My ex-wife was really interested in medicine and after our divorce she even became a nurse. Personally, I don't like being around sick people or dealing with medical issues. After having dodged doctors for the past few years I have submitted myself to their care. The result is that now am taking pills, lots and lots of pills. I have become a science experiment of sorts. The deal with pills is that you sort of see which work and which don't, you also see what side effects you can deal with. I am having an odd reaction to the new ones. I think part of the problem is that they dehydrate me; but, they have lowered my blood pressure to almost acceptable limits.
The pills I take are bitter pills; but, sometimes we all have to take the bitter pills. They have told me that if I get off the pills I will have another heart attack or a stroke or maybe both. We seem unwilling to fix our financial system and take our medicine. Our financial system is sick, it is corrupt beyond all belief and it is headed into even worse territory and it is intentional. Some claim that we did not learn from the 2008 collapse; but, I disagree. People learned how to make even more money by having the system fail.
It is estimated that the world has about 700 Trillion in debt, the world GDP is estimated at 70 Trillion. At the heart of the system is ten year bonds. Ten years is the payback time. This is interesting because it would take all of the GDP from all the nations to pay off the debt in ten years. This is what you are constantly being told, that there is not enough money in the world to pay off all the debt; but, whose debt is it? I didn't borrow a trillion dollars, yet, the plan is for us all to pay it off. There is a market called the credit default swap market, turns out it was fixed. Just a few banks managed to game the whole system. It is believed that the rigging has impacted 300 trillion. Rate rigging is very popular in London and New York and you can make more money from a rigged system then from an honest one.
A reasonable society would reform our financial system. We have not done that. As a consequence, the rest of the world is going to leave the dollar standard and create a new currency of some type. They are also going to take the regulation of the financial industries away from the west and internationalize it. They will no doubt insist upon this after the next big, catastrophic financial collapse.
When the crash comes, there are only so many ways to deal with it. The IMF had proposed hyperinflating all the currencies at once and eliminating the debt, that is the Chicago Plan. An alternative is to default on the debt, just not pay it. Regardless of the approach, it is all still nonsense. The plan for changing the financial system has been in the works for some time, the question is what will the new system work like. I only know a little of that.
The next financial system will be international in scope and control. It will usher in new currencies all pegged to the same thing. In order to support this, there will be a change in the way we are taxed. My personal guess is that it will be a consumption tax of some sort, perhaps a VAT. The purpose of not fixing the system was so that a new international system could be brought in and in order for people to accept that, the current system has to be hated by the countries that own the system. They are not looking to fix the system, they are looking to replace it.
Things will begin with the end of JP Morgan. It's CEO knows this and has prepared for it personally. He has recently positioned himself to be in charge of the break up of JP Morgan.
Friday, October 25, 2013
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