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What if you knew that markets were going to burst, an
inevitable outcome of the funny money and credit created, especially since 2008–09
but also before then? What if this
bursting was going to create a calamity both on Wall Street and Main
Street? What if you knew martial law was
in the cards due to this economic distress, but didn’t want to declare martial
law?
What if you knew that the debt load was much too high, and
one way to drastically shrink that debt load was to push hundreds – even thousands
– of companies into financial distress and bankruptcy? What if by doing this, you would push many banks
into distress? What if, by doing this,
you opened up the door to allow you to borrow even more, given everyone’s
flight to “safety”?
What if you could solve all of these problems by taking the
commercial loans off of the books of the banks while at the same time allowing
the distressed debt to go insolvent, thereby allowing your favorite friends to
pick up assets at pennies on the dollar?
What if you could hold this bad debt at an institution that had
absolutely no risk of insolvency?
What if all of this allowed you to take even more control of
all economic and social activity?
How could you set it up such that you wouldn’t get blamed
for the financial calamity, yet bring the financial calamity on for your
benefit and the benefits of your closest buddies? How could you get people to voluntarily act
as if there was martial law without declaring martial law?
Well, nothing immediately comes to mind….
My suspicious mind has been thinking along these lines. Thank you for the clarity. Peg
ReplyDeleteI disagree. It is isn't a conspiracy that friends get rich at the expense of wage earners but a side effect. The sad truth is that all of these people think they are doing good things by devaluing money. They have it beaten into their heads that the only negative consequence from this is rising prices on stuff. They never even consider that prices are exploding in housing, retirement savings, education, healthcare, etc as it is just too easy to only consider what their experts say.
ReplyDeleteSo you are saying that they are smart enough to manipulate an entire global system, yet too stupid to realize the negative consequences on ordinary people?
DeleteDo I have this right?
Exactly. These are bureaucrats who have power way beyond the monarchs of old (Old monarchs could only get away with killing hundreds to thousands while these jokers kill millions). And as such they not only have incentives to satisfy people in the current short term even if it harms them in the longer term. So it is no surprise to me that they miss these effects like Depressions and what not. If you are are President, minus the orange glow, do you believe Bob Murphy or Paul Krugman? Whose advice do you have more incentive to follow?
DeleteSo these are good-natured and benevolent men and women.
DeleteYou will find a better home with the naive and deluded, for example, here:
http://bionicmosquito.blogspot.com/2014/01/jeffrey-tucker-and-liberty-me.html
After these shelter in place orders, I wasted valuable time commenting on what I already suspected. I didn't think politicians and the Krugman’s of the World were evil, but now I have completely overwhelming evidence to that conclusion. But you have to give me a break as I thought Trump shouldn’t be President because he didn’t have the stomach for it. But low and behold, the Sanction’er and Chief has killed through starvation, lack of hygiene, lack of medicine, etc way more children and old folks than this virus ever will.
Delete"Secondary causes are only a veil to occupy the common people. God's elect see through the causes, to the Causer of causes." —Rumi
ReplyDeleteNumber of people killed by the Coronavirus: Zero.
When Arjuna is disheartened at the thought of killing, Krishna explains to him the reality of things:
ReplyDelete"I am come as Time, the waster of the peoples,
Ready for that hour that ripens to their ruin.
All these hosts must die; strike, stay your hand—no matter.
Therefore, strike. Win kingdom, wealth, and glory.
Arjuna, arise, O ambidextrous bowman.
Seem to slay. By me these men are slain already.
You but smite the dead." —Bhagavad Gita
Latest count of people killed by the Coronavirus: Zero.
Are you really using the Gita to justify killing people? Me thinks you missed the point of the Gita.
Delete"Because sentence against an evil work is not executed speedily, therefore the hearts of the sons of men are fully set in them to do evil."
ReplyDelete