In this final chapter of Useful Idiots and the Something for Nothing society, we show the final elements leading to the societal and economic collapse that we are currently caught in. The system I have outlined here and in previous chapters is INSANE when viewed through the lens of history. Unfortunately, our leaders and our society have forgotten it and, therefore, we are doomed to repeat it. Nothing will stop it and very little can be done to slow it down. You must embrace it, acknowledge it and turn it into your opportunity rather than your demise. We are at the tail end of an insanity seen throughout history, which began now almost 100 years ago. We are at the end game in the near future. If you haven't read the previous chapters PLEASE DO SO as it will connect the dots for you.
In Part I of this series we covered the transformation of the monetary system from sound reserve backed constitutionally mandated currency system to what now has become completely unsound Fiat currency and credit system. Money has changed from a system for storing wealth, purchasing power and ones labor for the future to a confiscation scheme run for the benefit of Banksters and socialist progressive government. Do not miss this as UNSOUND money and Reserveless banking is the master thread and foundation of all the chaos unfolding in the world today.
In Part II of this series we thoroughly covered how the ACCOUNTABLE, LOCALLY controlled education systems have been high-jacked and transformed into FEDERALLY CONTROLLED, UNACCOUNTABLE, public school MONOPOLIES designed to create sheeple and Useful Idiots ripe for exploitation. The Locally controlled school systems that created the most prosperous country in the history of man are now nothing more than PROGRESSIVE SOCIALIST indoctrination centers designed to mentally cripple the futures of our children. It is now an insidious system to create morally and fiscally insolvent citizens, bereft of histories lessons, contemptuous of what created our exceptional country and its burgeoning middle classes, unable to produce more than they consume. They do not know how to live prudent and productive lives and DO NOT have the BASIC knowledge needed to build a prosperous and independent life.
In Part III of this series we covered the impoverishment of the masses and how they have been turned from free men into debt and tax slaves through the scheme known as Fiat currency and credit creation and creeping centralized government. We learned how the value of their wages has been reduced and debased by the very people in whom they have placed their trust: the government and banking/financial systems. In reality, the powers that be have created a land of serfs in the developed world. Only serfs had it better as they only gave 25% of their incomes to their masters and dealt in coin based sound money. In history, one man's taking of the fruits of another man's labor was called SALVERY. Now, in the land of George Orwell we have become, it is called FAIRNESS. Real money is basically EXTINCT in today's world, except for gold and silver, killed by the elites who control the world today. All three previous parts of this series are critical foundations to this edition: DON'T MISS THEM.
In Part IV of this series we learned how a world of free men has been chained by laws and regulations of progressive socialist governments enshrining themselves and their campaign supporters above the private sector and public at large. They have destroyed freedom of choice, capitalism, dynamism, productivity entrepreneurism in an attempt to prevent the future from arriving as we evolve, while cementing their victimization of society in place. Regulations, which facilitate stealth confiscation of private assets, wealth and income through regulations, have been designed to line the pockets of their cronies, protect them from you, regulate demand to themselves, and destroy start up business formation. Regulations, which have never been reformed or had real cost benefit analysis done, are eating the private sector alive. Economic Capitalism has been repealed in the developed world, and political corruption and fascist socialism have been put in its place unbeknownst to the vast majority of the public and the useful idiots in particular. This is all destroying the ability of the developed world's economies to produce REAL wealth. They now only produce debt and disguise it as growth and send the bill to you and your children.
On to today's missive: Below is the face of the welfare state and their SOMETHING for NOTHING CONSTITUENTS consuming the capital needed to INVEST in the future and EATING the future incomes of our children, making them DEBT slaves to government! I call it eating the seed corn that must be PLANTED for an economic harvest for the next generation, aka our CHILDREN! Investment in the future (plants, equipment and infrastructure) has basically disappeared. It has been borrowed and transferred to the entitlement states and the elites which control them. This is an image from www.USdebtclock.org, check it out regularly and make sure you have a stiff drink when you Look and think about it.
Let's see, would you vote for a DC politician if you knew that they have incurred $350,000 dollars of debt for every man woman and child in the US or $1,049,000 for every taxpayer in the US. Do you think that somebody who put you into this position is irresponsible or CRIMINAL? It's called debt slavery and those chains bind you in the future to pay for today's Something for Nothing society. In the developed world, virtually no debt has been retired or repaid for over 5 decades, it is only rolled over and new debt issued for spending. The economic model of developed world governments who have no plans for repayment; they are predicated on an endless PONZI scheme, powered by central and commercial banks creating money out of thin air and stealing the value of yours while it sits in the bank. In REALITY, the debt of our children is MUCH worse. The something for nothing politicians and their socialist government's REPORT their finances to the public in a cash-in / cash-out basis, while you, I and any business must use the GAAP (generally accepted accounting principles) method, which includes future liabilities that are already incurred, are due and payable in the future. The federal government does this calculation (GAAP deficit) and it is breathtaking in comparison to what is presented to the public (CASH based deficit):
The Light green bars are the widely published deficits (they themselves are outrageous deficits), and the dark green bars are what they are spending today and the promises to pay in the future. Notice the complete breakdown of fiscal discipline since the bottom of the 2000 recession? These are the numbers gathered off the US treasuries website. The Something for nothing society has grown to unbelievable size and is mushrooming even LARGER. Compounding higher at almost 40% of GDP annually, by using the rule of 72 the obligations of the US, GAAP adjusted US debt as a percentage of gdp is DOUBLING about every 1.7 years. INSANE BEHAVIOR from our leaders in Government. This behavior enshrines them as public enemies, not servants.
Why this goes unreported is just another testament to the MORAL bankruptcy of the main stream media. In the last two years alone, Washington DC has run up future obligations approximately $14 trillion dollars (or $14 million million) greater than ALL the GDP of the United States in the last year. This is what I refer to as MORAL and FISCAL BANKRUPTCY. Buying votes with promises which will NEVER BE DELIVERED. That is today's leaders and their useful idiots eating and destroying our futures. What does it look like on an accumulated deficit versus GDP you ask? Send the women and children OUT OF THE ROOM:
=
90+ trillion dollars (90 million million)! Some people, such as Larry Kolitkof of Harvard, have it at twice those levels. How will these FUTURE obligations of our Something for Nothing Society be PAID? What are the consequences for this behavior? I think you know. Many of the PROMISES will be BROKEN and the rest will be paid with what else? Money printed out of THIN AIR. This is such a frightening picture of what lays directly in the future, to believe there will not be BAD consequences for this behavior is to believe in the TOOTH FAIRY!
That is 1/3 the total population of the United States. This is as of 2011, it is now 2014. Add those people to the rolls of beneficiaries and the numbers are approaching ½ of the population, and the baby boomers are retiring in droves and their social security and Medicare trust funds have been STOLEN, Spent and Eaten by the Something for Nothing society and their REPRESENTATIVES in Washington DC. THE MONEY IS GONE! How many Something for Nothing businesses feed at the government trough providing overpriced and poor quality goods and services? No one knows, and I have looked for this information. Add to this list Federal government unionized workers.
This is the primary reason government will never BE CUT until it is bankrupt (it already is) as too many people are on the FEED BAGS. They will vote for politicians who SUPPORT THEM, literally. You can add over 20,000,000 to this number when Obamacare is fully implemented. This situation has created the Jaws of Death for the world's primary reserve currency aka the dollar:
Now, add back in the GAAP adjusted numbers from the US treasury that I illustrated and you know why the foundations of the value of the dollar have been irreparably DESTROYED. We are only waiting for people to wake up to the fact that you cannot store wealth in them ever again. And the federal reserve has monetized them to prevent US bankruptcy:
This will NEVER end; overtly or covertly monetization of debt by the printing press is now an integral part of the game plan for insolvent elites WORLDWIDE to prevent collapse of their Ponzi economies and banking systems.
Keep in mind that approximately 60% of the monetary reserves of central banks around the world are denominated in DOLLARS; This is why the dollar will be the last to fall. Those trying to store wealth in it and those printing it endlessly will do anything to perpetuate the system of printing gold out of thin air. Remember the dollar was substituted for gold as international reserves at Bretton Woods I in 1945.
The Something for nothing progressive socialist society has a battle hymn which has found its way onto the internet:
Tax his land, Tax his bed, Tax the table, At which he's fed.
Tax his land, Tax his bed, Tax the table, At which he's fed. Tax his tractor, Tax his mule, Teach him taxes Are the rule. Tax his work, Tax his pay, He works for peanuts anyway! Tax his cow, Tax his goat, Tax his pants, Tax his coat. Tax his ties, Tax his shirt, Tax his work, Tax his dirt. Tax his tobacco, Tax his drink, Tax him if he tries to think. Tax his cigars, Tax his beers, If he cries Tax his tears. Tax his car, Tax his gas, Find other ways to tax his ass. Tax all he has then let him know that you won't be done till he has no dough. When he screams and hollers then tax him some more, Tax him till He's good and sore. Then tax his coffin, Tax his grave, Tax the sod in Which he's laid.. Put these words upon his tomb, 'Taxes drove me to my doom...' When he's gone, Do not relax, it's time to apply the inheritance tax.
I chuckled when I first read that, then thought about it and cried. That is a description of slavery, serfdom, organized crime and the totalitarian society we have become. PERSONAL income taxes where not a part of Amerika until 1913. They have grown from barely anything to mostly everything created by the private sector. The government does not create wealth it consumes it. The greater the size of government the smaller you can expect to keep of your hard work and labors. The something for nothing society powered by the useful idiots have legislated and borrowed all of the future wealth of America just as all developed world countries have. Those off balance sheet obligations I illustrated are mirrored throughout the world. In fact everything I have written in this series is a developed world situation.
There is NO WHERE to run from The Useful idiots and Something for Nothing societies. They are morally and fiscally bankrupt and running out of FOOD to loot to FEED their insatiable APPETITES. The OECD, World Bank, United Nations, and developed world have all RUN OUT of other people's money. It is why these groups are working so hard to track down anyone who attempts to escape from them.
"The trouble with socialism is sooner or later you run out of other people's money." - Margaret Thatcher
The socialist progressives in the G7 are chasing capital from one country to the next. As capital flees and seeks shelter from confiscation, the ability to produce wealth, economic growth and deploy investment domestically crumbles. The socialist progressives chased our manufacturing industries out of the developed world and now they are doing it to multinational corporations. Just yesterday, the secretary of the US treasury Jack Lew, "TAX collector for the welfare state", painted a target on the back of the corporate sector during an appearance on CNBC:
"What we need as a nation is a new sense of economic Patriotism," - Jack Lew
These comments come on the rush offshore by multi-nationals fleeing the TAXMAN. Most people do not understand, but people like congress and the president view ALL INCOME as theirs. From "you didn't build that", or "spread the wealth around" said to Joe the plumber in 2008, to tax breaks costing the government money which has the tense exactly backwards. It was never theirs, but they speak of it as so. When tax breaks are spoken of, it is not you keeping your MORE of YOUR OWN MONEY. Instead, it is referred to as costing them money because, in their minds, all money is theirs to be doled out as they see fit. Washington DC and the European commission have chased business and manufacturing out of their countries for decades. Their policies have given future capital and investment the BOOT. Money printing won't revive their economies. Only lower taxes and cutting the GOVERNMENT corruption known as regulations will do so.
"Factories that used to employ thousands now employ 200. For the US to grow above trend, it has to be about REFORMING government policy not central bank policies." - Larry Fink
Now that their policies have hollowed out our economies, they want to chase them as they flee. Corporate taxes are the highest in the world by wide margins and taxes collections in the US are too:
Notice how the US (red line at the bottom and highest in the WORLD) at 39% has BY FAR the HIGHEST corporate tax rates in the WORLD? It is simply why businesses are FLEEING the developed world as it no longer pays or is profitable to locate and operate there. It is why jobs now reside in the emerging world. The Something for Nothing Society and Useful Idiots who SUPPORT them are eating their own futures.
This is a picture of leviathan government and the Something for Nothing welfare states taking the Capital out of capitalism. They are eating the seed corn for the next generations economic harvest, thus there will be NONE. These are two pictures of the something for nothing society EATING the private sector, destroying the incentives to produce and invest and destroying/killing the golden goose that was the US and developed world ECONOMIES. It is a picture you can see throughout the developed world in one way or another.
Government receipts are at all-time highs by a wide margin, but the GAAP adjusted deficits seen previously show how government spending is EXPLODING like the NUCLEAR MUSHROOM to the future it REPRESENTS. It is government malfeasance on plain display; do not expect it to stop until Mother Nature steps in. All taxes COLLECTIONS are up 600% since 1981. The economy certainly hasn't grown that much but the debts have. This is why the wealth production of the US has fled the country. Most people do not understand that CORPORATIONS do not PAY taxes; the costs are all passed through to its customers in higher prices (lost competitiveness) and to its employees in lower wages. Think about that and know why the developed world has to pass laws to keep them domestic and to stop them from confiscating what little wealth they still keep.
"[A] wise and frugal government ... shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government." - Thomas Jefferson
"Capitalism has created the highest standard of living ever known on earth. The evidence is incontrovertible... Yet those who are loudest in proclaiming their desire to eliminate poverty are loudest in denouncing capitalism. Man's wellbeing is not their goal." - Ayn Rand
I have never in my lifetime seen the central government of the United States, the President and democrats in congress so openly HOSTILE to businesses big and small as I do now. Democratic congressmen say they DON'T trust the Private sector. Unbelievable! That is the only place an economic recovery can come from! Constantly attacking them and calling for them to surrender their success for redistribution to others or be labeled "UNPATRIOTIC".
"There is one and only one social responsibility of business: to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game; which is to say, engages in open and free competition without deception or fraud." - Milton Friedman
The something for nothing constituents who elected them to loot others for redistribution called government BENEFITS which they have been taught are theirs by birth and law. What was called slavery when I grew up is called FAIRNESS today. Definition of slavery: Taking the fruits of another's labor by force. This is fueling the ongoing collapse of the economy.
As INCOMES and REAL wealth creation COLLAPSE in something-for-nothing societies they become like locusts eating everything right down to its roots:
- Borrow money until they can borrow NO MORE!
- Print the money until it is accepted no more.
- Attack, tax, harness and regulate the wealth-creating sectors of their economies until they surrender...this is cannibalism of the WORST kind.
- BYPASS the processes of law & RULE through GANGSTER POLITICS and intimidation à la GM, AIG, BP and Chrysler!
- Rescue POLITICALLY-connected banksters, crony capitalists and elites at any cost to the public at large
- Eat the seed corn of the future, borrow against the incomes of tomorrow and enslave their children to banksters so they can consume something for nothing today...
The political classes in the developed world can be described in a quote by Cicero:
"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear." - Marcus Tullius Cicero
It does not matter whether it is called a conservative or a liberal, all are aligned into a system of looting the public which they support and build upon. This quote by Cicero so perfectly captures the essence of modern politicians today - socialist wolves feeding hope to the masses while their policies do just the opposite.
"Popular opinion ascribes all these evils to the capitalistic system. As a remedy for the undesirable effects of interventionism they ask for still more interventionism. They blame capitalism for the effects of the actions of governments which pursue an anti-capitalistic policy." - Ludwig Von Mises
"If governments do not give them up and return to the unhampered market economy, if they stubbornly persist in the attempt to compensate by further interventions for the shortcomings of earlier interventions, they will find eventually that they have adopted socialism." - Ludwig Von Mises
Policies which destroy the future and enshrines themselves above the people they claim to serve. The term Public serpents come to mind.
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it." - Frederic Bastiat
Unsound money and the income tax have funded the growth of this system of leviathan government (something for nothing societies) and countries run for the benefit of banksters. That is the master thread, both prohibited by the constitution and the founding fathers of the United States. Politicians at every level of society run on platforms of taking from one group (the makers) and GIVING it to another (the takers), dividing society in dangerous ways. The PROGRESSIVE SOCIALIST politicians of today are nothing less than organized crime families like the Gotti's and Gambino's fighting TURF wars known as elections to see who gets the front row fleecing, taxing, regulating and suppressing the private sector. No one proposes REFORM or REPEAL of decades of archaic laws and regulations, only ADDS to them. The Something for Nothing progressive society NEVER returns freedom, it only TAKES MORE!
People who support reducing government BENEFITS, supporting the constitution (so much of the something for nothing society and the making of useful idiots is neither authorized nor constitutional), reforming the education system, repealing the out of control regulations and reducing taxes are now called terrorists. And, to useful idiots and the Something for Nothing society, THEY ARE! If you see a politician, community organizer, or anyone using this rhetoric you're looking at a Useful Idiot and a member of the Something for Nothing society. Cutting their BENEFITS and reducing regulatory power over others is a gun at their heads. They could get thrown OFF THE DOLE and be forced to PAY FOR THEMSELVES. As we all must do in reality!
At this point, the developed world is SOCIALIST in everything but NAME. It is a process which has been underway for a CENTURY. Quoting Norman Thomas in 1944 shortly after the death of the Presidents IDOL Franklin Delano Roosevelt:
Of course we have reached this point today. The Republicans have adopted socialism as well. Socialism is the consumption of wealth not the production of it. This is why it always fails. It is a form of economic CANNIBALISM, something for nothing societies eat the makers and producers of wealth until the ultimate ECONOMIC and SOCIETAL collapse. When the economies fail and tax receipts are not enough, they borrow and print the money. The cannibalism to this point is KILLING the ability to produce wealth and is why REAL economic and societal recovery is IMPOSSIBLE. It is the definition of a Something for Nothing society and the USEFUL idiots who support it.
"Remember democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide." - John Adams
The recipe for something for nothing societies and their useful idiots: Debt, taxes, unsound money, Poor Potemkin educations which is nothing less than brain washing and intentional dumbing down of their citizens, wealth confiscation in one form or another, debasement of money (money printing and leverage with no REAL reserves), runaway regulations as barriers to a brighter future for the common man and emerging competitors, and CREEPING repeal of private property rights. Rinse and repeat. That is the system in place today. This IS NOT a RECIPE for GROWTH; it is the recipe of authoritarian governments trying to prevent their waterloo as their economies and living standards COLLAPSE under their policies. And transferring what's left to THEMSELVES (crony capitalists and elites) and their USEFUL idiot supporters. They will FAIL!
In conclusion, this is how empires have fallen over and over again throughout history and can be termed Morally and Fiscally BANKRUPT. Very few understand the levels of insolvency at every level of today's society, public, municipal, state and federal. INSOVENCY is knit into the economic and financial systems, inconceivable to most people. It is EVERYWHERE! The societal, government and economic systems which the developed world has become are incapable of generating wealth and real economic growth. That requires capitalism, innovation, personal freedom, semi-sound money and free markets, which are MOSTLY absent in today's world. Do you think any of the MEGA trends you have just learned of in this series are going in REVERSE? That somehow the people that created this mess and increasingly control our lives will suddenly wake up and change the direction of their actions? We now live in a socialist "Something for Nothing" society and welfare state. Europe is in the same boat.
The solutions to our economic and societal problems are inconceivable to the public or its leaders today as they were never taught histories lessons. The idea that we need more government, and that it is a solution to our problems and we need more BENEFITS, is a fiction. A return to the policies which created the wealth of the developed world is the only solution: capitalism, really free markets, freedom to innovate, sound money, a return to private property rights. Chance of this? NIL. Once taken, rights are never returned. Government power misused and abused is the cause of the problems.
Government, crony capitalists, bureaucracies and welfare recipients are living beings - they want to grow. As they do, they eat others to grow. It is their FOOD. The looters control the guns of government and will continue to use them so growth in benefits/entitlements and government is guaranteed. They have now grown to a point that they have almost killed the host private sector. . Soon it will die and the penalty for failing to produce for those that produce NOTHING will be confiscation of wealth and private property... and that still won't pay for the impossible promises.
The Useful Idiots who stand behind progressive politicians and roar their approval are PIRANHAS, looking to eat others and vote for public servants who promise them a full buffet table of the fruits of others who produce more than they consume. It is a growing constituency. Every taxpayer now owes over $1,049,000 dollars of their future income to pay back the debt; future promises to pay are multiples of that number by at least SEVEN. Me, you and the unwashed masses have been enslaved and chained to debt and the future promises by the socialist welfare states. Most people are unaware of their unfolding indentured servitude to the state as it goes UNREPORTED by the MAIN STREAM MEDIA. Before this episode, Washington DC will attempt to confiscate all the wealth in America. The European Union will try and do the same. All to deliver on the impossible promises they have made and passed into law. Private property is a fiction quickly being punctured by government actions. Without private property rights the incentive to produce DISAPPEARS and a growing economy goes with it. That moment arrived years ago when Bretton Woods II transferred the wealth in our money to the governments overnight. Now we are nearing the endgame of the confiscation which began then. Financial repression is just the latest policy to fund the INSOLVENT something for nothing governments and banking systems which made the bad loans. Saving money will never pay anything again (money for nothing for governments and the elites and usury if you are poor) until the economic collapse and monetary reset is implemented. Prudence, hard work and thrift will be increasing punished and imprudence rewarded as it is today. This is the world we now live in. Wake up, embrace it and thrive, it is an opportunity of a lifetime.
When the president talks about helping the middle class, he is talking about the Useful Idiots and Something for Nothings among us who are like locusts. They nod and smile as he affirms the lies and misinformation they have been taught and believe. He and all government officials now are the ENEMY WITHIN as Cicero put it. They will eat everything in front of them right down to the roots and then next year's seed corn. They have actually reached this point today for anyone who can do the math.
"A government that robs Peter to pay Paul can always depend on the support of Paul." - George Bernard Shaw
Useful idiots and something for nothing societies have no ability to understand the issues and history's lessons nor the ability to think. They have never been taught what money is or how it must function: ON PURPOSE. They have no ability to pick apart words and compare them to the actions. Or know history and have no desire to know it for that matter. They were not taught to be curious, just trust those that say they will protect them from the boogey man. They can only be led. They live in quiet desperation and fear (false evidence appearing real) on the edge of poverty as they have very little real education on which to stand or create success for themselves. It's why the Democratic Party only uses TALKING points with simple meanings and glib promises. Useful idiots are being led by those who are preying on them. This insanity is unstoppable. It is like a snowball rolling downhill and, as their policies gain momentum, the destruction will explode.
The only thing that will stop this is Mother Nature, God and Darwin. Historically, they have done so in EVERY previous episode of insanity of this nature. This is also known as the collapse of empires. This time will be no different. We are in the midst of this and the crisis caused by the policies of the powers that be will always be with us until the insanity falls on the rocks of reality. Most people are blind to this, especially those who have been conditioned to believe these impossible ideas, promises of living at the expense of others. To them, the lies are the truth. To the Useful idiots, the something for nothing society that has been built and the promises they learned in school from the second bill of rights and the president's supporters it is the "American way", when in reality it is contrary to the nation's history and laws.
Advanced economies have set aside the values of hard work, self-reliance, prudent behavior, saving, financial knowledge, highly educated workforces and constant reinvention and renewal through capitalism and celebrate and revel in expensive, ill-budgeted welfare states and the system I have just outlined. One that created the greatest and most widely spread prosperity in the history of man and transformed it into just the opposite: forever declining wealth and income creation, lives of desperation where the future is always worse than the past and the wealth pie is continually shrinking. Something for nothing societies are the consumption of wealth rather than the production of wealth. It is why the middle classes are going the way of the DODO bird: EXTINCT. Capitalism created the middles classes, and socialism in disguise is eating them alive. Socialism is misery spread widely as economies collapse under its policies.
The near future is bleak regardless of the illusions of booming stock and bond markets created by money printing, and monetary debasement. ALL ECONOMIES are afloat on an unimaginable and inconceivable (to the human mind) sea of leverage as is every corner of the world economy today. The leverage will fail as it must because there is no REAL income growth to repay it. So the powers that be will print it. For example: if subprime borrowers (little ability to repay) were not allowed to buy an auto, sales would COLLAPSE by about 30%. Of course, the banking systems PRINTED THE BORROWED MONEY OUT OF THIN AIR to lend to them and receives years of their FUTURE labor to PAY IT BACK. Did you know the word meaning debt and the word meaning sin are the same in the Old Testament? Debt is sin and slavery if used for consumption. If used for self-paying/liquidating investment it is virtuous. The ability to repay was everything when banking was sound, now they just lower credit standards so more useful idiots qualify for the loans which create consumption which is called growth. A currency and financial system extinction event as outlined by Ludwig Von Mises is underway.
What would USEFUL IDIOTS and Something for Nothing societies do if they couldn't borrow the money to CONSUME what they cannot afford? They would and will collapse at some point. The leverage will FAIL, as incomes are a tiny fraction of new borrowing. It's all Ponzi all the time, a growing tide. It is only a question of when? The road to recovery lies only in repealing the regulations and reducing the taxation which is verboten to socialist society that have run out of other people's money at this time. Moral and fiscal Insolvency is the definition of the developed world today. No reforms have taken place since 2008, just further RAPE of the public by the Something for Nothing societies and their handmaidens in the political world. The greatest transfer of wealth from those who hold it in paper to those that don't is underway; use it to create prosperity for you and your families.
Call me. Let's discuss. I love you all and may god bless you and your families.
Author's Note: In my opinion the greatest manmade disaster and OPPORTUNITY in history is unfolding in every corner of the world. Are you diversified or operating with EYES WIDE SHUT? Are you prepared to turn it into opportunity by properly diversifying your portfolio? Adding absolute return investments which are designed with the potential to thrive (up and down markets) regardless of what unfolds economically or politically? This is what I do for investors; help them diversify into investments which are created to potentially thrive in the storm. For a personal consultation with me CLICK HERE!
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