by Dr. Jeffrey Lewis, Silver Coin Investor:
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. – Henry Ford
A recent IMF study estimated that the profits of the big banks in the United States are almost entirely due to the government sponsored backstops. It’s not just bailouts, but also cheap credit, and judicial negligence.
So when the JP Morgan and Chase pay a $13 billion fine for criminal behavior it’s nothing compared to what they’re getting simply by having a government insurance policy.
Meanwhile crisis perceived begins a new cycle.
For the renewed European debt crisis, and the Germans on begging, while they blame the Italians. So much for the political/monetary union.
So the Germans have now forgotten.
But, hey… If all of this sounds absurd, reflect on the source. When money is untethered, the license to print extends beyond binary debt script
Don’t look now, Japan creeps back into the limelight, soon to be the testing grounds with QE from Helicopters.
If it were only that simple.
We are about to see that complexity unwind. As the huge counter-parties (derivative holders) unravel in a panic, the entire system of circular causality will be revealed.
In Europe, it’s the troika policies. The population should pay for the risky, careless behavior of the bankers.
Put it to the people for the vote. Brexit is a distant memory, contained by the self-granted legal powers given to the Treasuries, the stabilization funds, and the great liquidity providers.
The citizens can decide their own fate and then beg for more of it.
Remember, visions of ‘Helicopters’ will soon morph into QE – in the name of ‘fiscal’ policy – for what’s good (and food) for the unwashed masses.
The creditors are laughing.
Turn off the machines and people don’t eat. Sure, let them vote, they imagine.
Give them hope and the illusion of freedom in a flag, while tapping the deep wells of perpetual welfare for the debt slaves.
Let them try and rise up against the economic and social policies deriving from the bureaucracy and the banks.
Historians will be sorting this out for decades. The ‘winners’ will repaint it all in terms of the little guy — as if they little guy was more than a pawn in the wealth transfer.
We are merely in the early stages, where the last variable is the unmeasurable velocity of money – a concept as close to all or none when it appears.
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