Central Banks ARE The Crisis


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    Walter Langley Never morning wore to evening but some heart did break 1894   If there’s one myth -and there are many- that we should invalidate i
    [See the full post at: Central Banks ARE The Crisis]

    V. Arnold

    The Galoots have gutted us; financially, morally, literally and most importantly, spiritually.
    We’re a mere shell of the past; no future, no present, and a forgotten past as it actually was…

    John Day

    After the Great Reset:
    1) Bitcoin as global reserve currency. Bye-bye Triffin’s Paradox. It is right sized for massive transfers, not cigarette purchases. The complexity-cost only makes sense at the highest level.
    2) Transaction tax everywhere. “Tobin Tax”, “Robin Hood Tax”, “Stamp Tax”, but make it something that is everywhere the same to thwart global capital exploiting local markets of all kinds.
    3) Elimination of debt-based currency. Debt is the money of slaves. Let’s move up the scale to barter-based currencies, silver and gold based currencies, oil based currencies, whatever works out in real terms.
    Charles Hugh Smith’s essay today points out that there is only one empire, the global financial empire. To be the global hegemon, you have to borrow the most from the banks, The era of exponential growth is over. Debt based money can only work in the epoch of exponential growth. https://www.oftwominds.com/blogjuly17/one-empire7-17.html

    Dr. Diablo

    Did anyone catch this? https://www.macrovoices.com/288-dr-pippa-malmgren-cryptocurrencies-libertarian-dream-come-true-or-orwellian-nightmare

    PPT member and insider points out that:
    ”if the size of your debt problem is so big that it can’t be paid off and in fact even inflation, which is the usual way you would seek to default on your debt slowly over time, you can’t get enough inflation generated, then there is one further option. And that is you literally abandon the entire system of money, and accounting. I know that sounds unbelievably radical, but we have seen it happen before. I explained the example of Britain in 1834, when they abandoned the traditional system they had used for 1,000 years at that time, which was called the Tally Stick system. So when we say we tally things up or the word stock market refers to the use of little wooden stocks. They were little pieces of wood on which you record every transaction during your life, every borrowing, every lending deal, every asset acquisition, every tax payment.”

    ”You can imagine everyone said I am going to hand over this record, this ledger of my entire net worth, and you are going to give me a piece of paper. Really? This is a joke. In the end, what the government had to do was confiscate the tally sticks, and they took them to parliament to burn them. They misjudged how much heat the fire would throw off, and that is what caused Parliament to burn to the ground in 1834. It was the destruction of the system of accounting and money. In its place, we adopted what we now use, which is piece of paper we call cash. Today, we are on the brink of similar step change, and the way you will do it is you move to electronic money in conjunction with blockchain. Blockchain is the new ledger, and e-money is the new currency.”


    As predicted and publicized back as far as 1971, we shoot right past any possibility of “fixing” the system, and Greenspan is instrumental in both a) making the system entirely unrecoverable without a worldwide collapse and death of billions, and b) keeping it actually functioning while it is this catastrophically malformed. But Reagan, all the guys told us on national TV back then the debt wasn’t their problem, it was ours. It was pretty clear even before 1989 that it would cause a complete collapse to even attempt to pay it, and that this would cripple, enslave, and destroy our children. Yay! they said. Yay!!!!!! Sign my kids up first! As long as we don’t have to wear sweaters in the White House, it’s all worthwhile.

    So…you see, right beyond paying it back (I can’t believe anyone is still talking about this), right beyond “collapse”, and right into the recorded and published plan back as far as 1981 — a complete digital currency replacement, completely tracked and controllable. The paper currencies burn like the phoenix and are replaced with a different system. And here we go, in 2018, right on schedule from 37 years previous. Like they promised, and told to us in public on national TV by a PPT insider, on the front page of national magazines.

    Anybody listening? Of course not. It will all be a big accident, unforeseen and unforeseeable, that makes certain pre-planners rich and the rest of us paupers. Because, at this point, you have any other ideas? Cake? Or death?

    Diogenes Shrugged

    It used to be the case that a merchant would buy widgets for $5 each and put them on the shelf for $10. In an inflationary environment, he was all too happy to raise the price on unsold $5 widgets by a dollar every so often. But in a deflationary environment, he’ll have to reduce the price every so often. Too large an inventory and he’ll someday post a $4 price on unsold $5 widgets. I can only imagine the psychological stresses that would cause.

    With bare-bones inventories, it won’t take long for shelves to clear in a panic.

    But there will still be places where inventories increase as prices fall. Empty homes, vacant storefronts, used cars, and empty college classrooms come to mind. Gee, I wonder if those things have something in common. Like, maybe they were brought into existence before their time?

    Watching an old western on YouTube the other night, I heard an interesting quote. The grizzled old codger remarked to the young whippersnapper, “Your dad was lucky. He died back when life was still worth living.”

    Best of luck, everybody.

    Diogenes Shrugged

    Those things come to mind for me as well, Diogenes. And it’s about energy too.

    Will any alternative currency or economy eliminate the waste (i.e., unproductive time) of accounting? I don’t see such a possibility. So let’s drop the whole thing and just live like other species (just with more intelligence). But then, if we can’t figure that out and act on it, maybe we’re not particularly intelligent after all.

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