In 2005 the clues were all there, the rewards for economic behaviour that would cause all humanity to bite off their nose to spite their face had been put in place (Boyce, Brown & Moore, 2010).
Cheap credit created by the the United States federal reserve bank lead to international banks being able to offer up immense amounts of fiat currency in every nation state at cheap prices. Thus, allowing lending to people, and the printing of money at immense rates (Meltzer 2002: Hetzel 2008: McCallum 2010).
Money as Debt... OR!.. Fiat Currency at the Heart of the Problem:
For more on fiat currency please watch 'money as debt 1' on Youtube. Effectively, banks have the licence to turn one dollar into nine more dollars out of thin air. Thus, they are legal counterfeiters (Block 2010: Drake 2009: Mitchell 2009)
This created the first of what will be several credit bubbles. In September of 2008 the markets collasped but this is ONLY THE START of the crisis of asset value and currency failure (Keen, 2009: Keen 2010).
How History will Show Our Depression Began... OR!.. Excuse Me, EXCUSE ME! Man with Big Theoretical Balls Coming Through!:
1.) Banks sold a lot of 'prime' loans to people with stable production jobs at low interest in the post 2001 interest rate lowering period which lead to a property buying spree, and a money printing spree.
2.) Wanting more profit more banks then went after ill educated people with deceptive offers creating 'sub prime' loans (Khabia, Phatak, Matharu, 2009).
3.) When the loans became risky and the houses appeared to not be as valuable as their inflated price suggested, banks jacked up interest rates to ensure they could cover the risk (Dam 2009).
4.) Banks took the unreliable 'sub-prime' morgtage contracts, bundled them up and sold them on the markets as a AAA+ rated security, helped out by the folks at Standard and Poors. (Demyanyk & Van Hemert 2009: Khabia, Phatak, Matharu, 2009: Partnoy 2009).
5.) When people found out that these assetts were not worth AAA+ the banks couldn't float the debt products or sell the morgatage contacts (Demyanyk & Van Hemert 2009: Khabia, Phatak, Matharu, 2009: Partnoy 2009).
6.) Banks around the world failed to meet their reserve ratio requirements, hit liquidity issues, ran into the limits of regulation and the capacity of people to pay (Mayer, Pence & Sherlund 2009). This 'limit' is actually set by the banks if you think about it so... Conspiricy? Maybe?
7.) Banks failed. (Posner 2009)
8.) Banks bailed out by the people through economic stimulus, troubled asset relief programmes, investment protection programmes but money never made it to back to the people in the way it was theorised to (Ghosh & Mohamed 2010 :Ferguson & Johnson, 2009). At this point it's fraud by any other name but thats just my opinion.
8.) Regular business couldn't borrow money and had lower customer participation around the world. (Acemoglu 2010). Corporation's continued to do well flush with capital they consolidated. Once again my opinion.
9.) Unemployment skyrocketed (Martin 2010 see also *.gov)
Oh an by the way the link between expanding or contracting money supply, investor demands, and shrinking employment is well known (Mitchell & Amp; Muysken 2010)
I could go on from here and state that banks are 'shuffling' the debt to governments, to investors (CREDIT DEFAULT SWAPS) and to people by printing more money or shrinking the money supply. There is one thing for sure. We are not in a recovery yet.
In the coming months we will see the stimulus bubble (Green, 2010) collaspe, the credit default swaps fail, and the government will either respond with more stimulus, prolonging the crisis OR will let it be and the greatest depression will begin.
In the midst of all this, humanities propencity to find vicitm's, rescuer's, and persecutor's, will manifest itself in someway (Karpman 1968). Who is to blame for this crisis?, who created the 'perfect storm' conditions?, what assumptions were they working under? All this will be questioned, however the assumptions for the assumptions will not be analysed.
The bottom line is that individuals are still happy to pony up their lives work for debt slavery (Rowbotham 1998).
The assetts of the world still remain under the control of less that half of one percent of the worlds population. (Hart 2001: Pauly 1997: OECD 2010: Wallerstein 2009)
Banks are still using their position of power and use the mind control of economic behaviourisim to control the behaviours of people. And the people who own the big banks and the big companies still control these banks and have 'ownership' of property and capital.
Property and capital gained by having the legal right to print money out of thin air.
So as time moves on we will see this minority of wealthy people use every bit of power at their disposal to defend their assets against people trying to liberate these assets when the monetary system collaspes.
I can almost bet that one of these banking families will find themselves in a rather life threatening situation, because despite any preparedness they have become the persecutor. People are not stupid. They are waking up to the 'manufacture of consent' (Chomsky 1959). They are waking up to their 'debt slavery' (Marx 1853), and they are waking up to four hundred plus years economic fraud (Hurst 2001). And they are looking for someone to blame.
Sounds like a movie trailer, but it's not. It's your life.
Until then, I remain, a Critical Terrorist
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