The global financial system is likely insolvent

[Regina]

Both are brewing right now, and I think the elite would prefer the former, because they will devise a way to make the 9.9% pay for the emancipation of the bottom 90%, while the top 0.1% remains in charge of the entire system and can plot a new boom/bust cycle, population control, wars, etc. Basically, the WEF dream, as professed by Schwab. It does look more and more likely that some sort of popular revolt in one or more of the G-7 countries is the only way to stop the WEF wetdreams.

"they will devise a way to make the 9.9% pay for the emancipation of the bottom 90%," describes the way blue states have operated for decades.

I'm discussing the thread with a friend (a smarty pants)...
<<
The most practical voice in the discussion is the hamster dude. I’m a sucker for doom-n-gloom on any house-of-cards fiat system, but following the advice of Robert Prechter et al has never been wise. Sure, as Time à Infinity he will be vindicated, and maybe that time is now…or 3 years from now…or ???. Like everyone points out, debt can be washed, transformed, or even wholesale written off. Also as pointed out on the thread, true technology improvements which increase the rate of productivity (in the sense of output-per-unit-input ratio) can absolve and gradually ease the debt write-off over the course of years as such technology gains wide adoption. And yeah, cheap labor flooding the market can have similarly offsetting deflationary effects. I’m not sold on a “2008-style CDO shitstorm but now in every asset class, not just subprime real estate” theory. Crypto btw has the potential to create interesting collateralized securities backed by large pools (think staking). USD will inflate but demand will still be high. How many decades have the naysayers be warning of an impeding sell-off of US Treasuries by China to revert that deficit??…it’s a broken record. I agree with Haidut’s suspicions about the motivation of the great reset/scamdemic in light of repo, blackmarket etc activity, but everyone knows the stock market has always technically been a ponzi scheme and confidence game. My primitive understanding of the 2019 repo rate spike was the official line was “corporate taxes were due and it was a settlement date for a large swath of treasuries – hence the blip in demand and short supply” but yeah definitely more to it and perhaps instead of 2008 all over again we’ll pay the pain not as a crash but just a multi-year trainwreck in the form of the great reset…dunno. This link from the very last post is a pretty good timeline btw:

A Self-Fulfilling Prophecy: Systemic Collapse and Pandemic Simulation - The Philosophical Salon
>>

 

[haidut]

"they will devise a way to make the 9.9% pay for the emancipation of the bottom 90%," describes the way blue states have operated for decades.

I'm discussing the thread with a friend (a smarty pants)...
<<
The most practical voice in the discussion is the hamster dude. I’m a sucker for doom-n-gloom on any house-of-cards fiat system, but following the advice of Robert Prechter et al has never been wise. Sure, as Time à Infinity he will be vindicated, and maybe that time is now…or 3 years from now…or ???. Like everyone points out, debt can be washed, transformed, or even wholesale written off. Also as pointed out on the thread, true technology improvements which increase the rate of productivity (in the sense of output-per-unit-input ratio) can absolve and gradually ease the debt write-off over the course of years as such technology gains wide adoption. And yeah, cheap labor flooding the market can have similarly offsetting deflationary effects. I’m not sold on a “2008-style CDO shitstorm but now in every asset class, not just subprime real estate” theory. Crypto btw has the potential to create interesting collateralized securities backed by large pools (think staking). USD will inflate but demand will still be high. How many decades have the naysayers be warning of an impeding sell-off of US Treasuries by China to revert that deficit??…it’s a broken record. I agree with Haidut’s suspicions about the motivation of the great reset/scamdemic in light of repo, blackmarket etc activity, but everyone knows the stock market has always technically been a ponzi scheme and confidence game. My primitive understanding of the 2019 repo rate spike was the official line was “corporate taxes were due and it was a settlement date for a large swath of treasuries – hence the blip in demand and short supply” but yeah definitely more to it and perhaps instead of 2008 all over again we’ll pay the pain not as a crash but just a multi-year trainwreck in the form of the great reset…dunno. This link from the very last post is a pretty good timeline btw:

A Self-Fulfilling Prophecy: Systemic Collapse and Pandemic Simulation - The Philosophical Salon
>>

Even at the height of the 2008 crisis we never had the entire system seize up like that day in Q4 2019 when every single private financial entity on Wall Street refused to loan to any other private financial entity, even at absurd overnight rates. So, the explanation of "taxes due" is laughable in my opinion. Something much bigger happened behind the scenes, and the insolvency claim is backed up by the fact that the 4 biggest investing vehicle companies in the world (Vanguard, BlackRock, Fidelity, and StateStreet) needed repeated bailouts in order to stay afloat. To my knowledge, those 4 did not get bailed out back in 2008.
Also, companies like those 4 do not have massive tax expenses coming due. Their investors may, but not the corporate shell itself around those index funds. Unlike a regular bank, or a hedge fund, or whatever other nefarious financial creature selling/buying junk, those companies do not have (or do they? is probably the better question) money-making activities themselves on which they owe massive taxes. I would like to hear the "smarty pants" explain just what is it that Vanguard's multiple LLC do (aside from simply providing passive index funds for investing) that results in a massive tax bill. Just as importantly, why would no other financial institution be willing to lend to those 4, considering their essentially no-risk business? And as an even more striking example - multiple massive money market funds, which are supposed to be even lower (zero?) risk than investing companies, also needed multiple bailouts and nobody would lend to them either.
Yeah, taxes caused this /s

Oh, and even the link the "smarty pants" said he liked says it was the CDO/CLO issue again.

A Self-Fulfilling Prophecy: Systemic Collapse and Pandemic Simulation - The Philosophical Salon

A year and a half after the arrival of Virus, some may have started wondering why the usually unscrupulous ruling elites decided to freeze the global profit-making machine in the ... Read More

thephilosophicalsalon.com

"...June 2019: In its Annual Economic Report, the Swiss-based Bank of International Settlements (BIS), the ‘Central Bank of all central banks’, sets the international alarm bells ringing. The document highlights “overheating […] in the leveraged loan market”, where “credit standards have been deteriorating” and “collateralized loan obligations (CLOs) have surged – reminiscent of the steep rise in collateralized debt obligations [CDOs] that amplified the subprime crisis [in 2008].” Simply stated, the belly of the financial industry is once again full of junk."

 

[IROM]

On the subject of companies with fake value, you have to look at Spacex, Boring Company, Starlink and Neurolink. Recall that Elon Musk came from the "Paypal Mafia" around Peter Thiel and Joe Rogan's buddy Eric Weinstein.

Tesla is THE NASDAQ growth stock of retail and Cathie Wood fame. It is the pride of the current bubble. All of the Musk companies except Tesla are basically shells. Tesla itself is supported by carbon credits and good marketing for a product which is not very sustainable. It's absurd that they can get away with this kind of stuff. But my opinion is no agency is really watching. They want to coerce you to bailout what is essentially a publicly traded front for NASA and military research by constantly selling hype on these companies. In part, I believe it's a nudge experiment to see how far they can gaslight the public in markets.


View: https://www.youtube.com/watch?v=-RPMt_FS-s8



View: https://www.youtube.com/watch?v=GSUQhfYv3wc


View: https://www.youtube.com/watch?v=9qY2bPyKV_c



View: https://www.youtube.com/watch?v=01LK1hxpwcY

 

[tankasnowgod]

If all exchanges are digital then no ledger is needed. Debt & credit are created out of air & just conferred arbitrarily, or by social credit.

Ridiculous.

If they are "creating" fiat money, then only thing they have is a ledger. So it will 100% be needed.

They can hide certain parts of the ledger from the public, but they are already doing that.

 

[Rafe]

@tankasnowgod
I didn’t mean no recording of any kind is needed, though I’m not sure that couldn’t effectively happen either. Falsifying ledgers is nothing new. Those are a rationalized, unreal version of columns. But like a cypher they can be figured out.

But in a purely digital monetary system no functional calculation of plusses in one column being minuses in any other would matter if all the numbers could just be fabricated.

If “debt” & “credit” aren’t carriers of any physical value, but are only digitally created out of nothing & conferred arbitrarily (based on, say, social credit), then no intermediate reconciliation needed, or possible. No Clearing House needed. Isn’t that what fiat is inside a context of exchange rating?

Now happening: social credit becomes the central lever of what formerly was monetary debt & credit. The conferrers of that = the new “bankers.”

I think we’re already in some hybrid of that now.

It’s possible that contracts are potentially like this anyway: the parties only have to be happy with the exchange. It’s not clear to me that what each is getting has to be equal in any objective way. It’s just the assigning of cash that’s the intermediary.

The real cash economy has to be destroyed to make that come completely unmoored. So far, even a working man can have equity no matter his social status. Future he won’t.

Point, abacus thinking is about to be superseded not by value of any kind. By power of every kind.

In that light, you are completely right about the not-virus. All the talking we do about politics of pandemic stats, cfr’s, vax efficacy, = all nothing. Just distraction. If this thread is right. It does give the biggest, most coherent context so far.

 

[akgrrrl]

Democrats are already doing that and taking wealth from the middle class, instead of the billionaire class, most of whom live in tax haven countries.

The sub-billionare class is in a tight spot. The majority is not only not aware of the class war, but refuses to acknowledge it, and even if they do, they are pacified with internet instant gratification and many useless activities. Yes, including wasting time on number games instead of learning skills that actually create wealth instead of outsmarting the rest of the herd.

The billionaire class clearly considers people who inspire unity against them to be dangerous. The solution is to spend money where their reach is minimal. Boycott entertainment. If there's something worth watching, pirate it instead of paying for subscription services. Grow your own food or buy it from local farmers. Buy secondhand clothes. Participate in your community and reach out to people. Avoid supporting the medical system. Vote right to pay less taxes, which are used to make the rich richer and destroy the middle class.

A thread of SOLUTIONS as you describe here is sorely needed. So many facets of our previous systems need rethinking. I am getting weary of ppl saying we can do nothing (except being the bystanders, armchair quarterbacks and learned helplessness drones they have created via gaming, Hollywood, SportsMachine, etc)
Even support actions like hoisting your flag, sending postcards to imprisoned patriots could generate the thought process that clearly most of us need embrace.
What do you think?

 

[Birdie]

I've got a flag up. Another idea is to smile since your mouth is free (maskless). I find that makes a point. Other free faces like it. So it's a way of standing. Having a good time as you go about your day and run into people.

 

[haidut]

A thread of SOLUTIONS as you describe here is sorely needed. So many facets of our previous systems need rethinking. I am getting weary of ppl saying we can do nothing (except being the bystanders, armchair quarterbacks and learned helplessness drones they have created via gaming, Hollywood, SportsMachine, etc)
Even support actions like hoisting your flag, sending postcards to imprisoned patriots could generate the thought process that clearly most of us need embrace.
What do you think?

Considering the dire financial situation of the system (thus needing massive bailouts) if even 10% of people stop shopping at Amazon and/or move their banking to a local credit union will be enough to bring it down, or least block the implementation of the Great Reset.
Threads like this are not meant to discourage. Their goal, at least in my mind, is to show the people who are still on the fence that the reason we are in this mess is entirely due to a corrupt monetary system and nothing will improve until that fundamental aspect of life is reformed through personal action. I always found the slogans "Defund the Police" to be weird, and unproductive. If the same number of people who participated in last year's SJ protests were instead carrying posters saying "Defund the Fed", the charade/pandemic/reset would have been over by now.

 

[akgrrrl]

Considering the dire financial situation of the system (thus needing massive bailouts) if even 10% of people stop shopping at Amazon and/or move their banking to a local credit union will be enough to bring it down, or least block the implementation of the Great Reset.
Threads like this are not meant to discourage. Their goal, at least in my mind, is to show the people who are still on the fence that the reason we are in this mess is entirely due to a corrupt monetary system and nothing will improve until that fundamental aspect of life is reformed through personal action. I always found the slogans "Defund the Police" to be weird, and unproductive. If the same number of people who participated in last year's SJ protests were instead carrying posters saying "Defund the Fed", the charade/pandemic/reset would have been over by now.

Yes thankyou.
What if all of America agreed to boycott one place for just 30 days? Walmart. Everyone ready?
GO.
On their knees in 30 days.

 

[Hysteric]

Hmmm.......Where do I begin?

How about here; Manias, Panics, and Crashes: A History of Financial Crises : Solow, Robert, Kindleberger, Charles P., Aliber, Robert: Amazon.com.au: Books Its a good read that should educate the reader into what is really normal concerning the business cycle and the author being an economist doesn't really get tied up in economic theory but what actually happens in the real world and what has happened in the past. Theory is one this reality is another.

Contrary to what most people think and understand about economics crashes are a normal and a natural part of the economic cycle. Just because we haven't seen a crash like the 1930's doesn't mean we wont have another one. We had one in 2008 BUT the measures taken to avert/delay it were unlike any other time in history that I know of. None of the issues that led to the crash in 2008 have been addressed and even worse they have been added to. Capitalism as an economic model is inherently unstable and Central Banks are meant to mitigate this fact and smooth out the business cycle but they have only made it worse.

We are all passengers on the Titanic and its not a question of "IF but "WHEN" the iceberg hits the bow and we start the great decent to the bottom. Remember arguing over which deck chair to sit in while the ship goes down into the icy waters of the Atlantic is a waste of time so get yourselves into the life rafts or makeshift floats.

Some stats from my countries perspective (Australia)

1930's Depression........45% private debt to GDP
1890's Depression and Banking Collapse......70% private debt to GDP
2020's Depression, Banking Collapse and >>>> insert dire outcome here<<<< 200+ % private debt to GDP and counting.

Every Boom ends in a Bust........It just depends on how big the Boom was to gauge how Bad the Bust will be. The greater the involvement of the every day working/middle class the greater the societal cost when the bust comes.

 

[Regina]

Considering the dire financial situation of the system (thus needing massive bailouts) if even 10% of people stop shopping at Amazon and/or move their banking to a local credit union will be enough to bring it down, or least block the implementation of the Great Reset.
Threads like this are not meant to discourage. Their goal, at least in my mind, is to show the people who are still on the fence that the reason we are in this mess is entirely due to a corrupt monetary system and nothing will improve until that fundamental aspect of life is reformed through personal action. I always found the slogans "Defund the Police" to be weird, and unproductive. If the same number of people who participated in last year's SJ protests were instead carrying posters saying "Defund the Fed", the charade/pandemic/reset would have been over by now.

 

[yerrag]

I like the idea but Ron Paul was trying to audit the Fed but I guess attempting this sort of thing at the congressional level was wishful thinking.

Defund the Fed at the popular level is more realistic, but I don't really think the American people is willing to lose in the short term to win in the long term. There is national will to speak of. And the shysters know this.

 

[RenaissanceMan]

If I can get a X million USD loan for close to zero interest, and then refinance it indefinitely, why would I ever need/want to do actual, valuable work? This is the situation I am seeing in the Millenials, and most of Gen Z, and I don't think one can refinance debt indefinitely in the absence of productive activity.

How do you define "actual, valuable work" in an age of rapid technological advancements and money printing? That's the real question

If the same number of people who participated in last year's SJ protests were instead carrying posters saying "Defund the Fed", the charade/pandemic/reset would have been over by now.

Peaceful protests in which people carry posters never lead to change, no matter what they say

 

[akgrrrl]

How do you define "actual, valuable work" in an age of rapid technological advancements and money printing? That's the real question

Peaceful protests in which people carry posters never lead to change, no matter what they say

So, what then? Are we to believe in the most connected communication era in the history of the world that a bloody revolution of sorts is the only way to combat a silent war of economics and currency? We just sit on the sofa and wait until...starvation?

 

[haidut]

How do you define "actual, valuable work" in an age of rapid technological advancements and money printing? That's the real question

Well, I guess it can be tricky to define, but let's say (for simplicity sake) anything outside the F.I.R.E. sector would be a great start. So, take 90% of the global mental capital currently thrown into F.I.R.E. activities and apply it anywhere else. No matter what that something else is, it would be much less prone to bubbles, speculation, and busts demanding global bailouts. Even if all those smart people went to work for the military on say 5-10 different "moonshot projects" it would still be a staggering improvement over what is happening now. After all, most of what we see around us as a technology came out of ARPA/DARPA work in the 1930-1990 timeframe. Many/most of the really smart people working in F.I.R.E. actually have degrees in hard science and it is shame they are applying them in a way that produced nothing but financial bubbles and gradual immiseration of the everybody except the 0.1%. But like I said in my previous post, when one of those smart people has a choice between "work on something that can save the world if successful but has a good chance of failing" and "make a ton of funny money, with almost-zero chance of failure or at least repercussions, doing nothing but staring at a screen for 2-3 hours daily" then it is not even a choice. The "incentives" of the current system have destroyed not only any desire to chase progress, but over a sufficiently long time even the ability to do so. As Peat said over time "feigned stupidity becomes real stupidity".

As far as the slogans - they may not do much when the people carrying them have not reached critical mass yet, but they slowly change minds if done consistently. Eventually, if a critical mass of people realize they have a much bigger common enemy than some racist cops, drastic change can happen overnight, like a dam wall overwhelmed suddenly after years of tiny water streams damaging the core structure. In other words, the pressure is always there, and the slogans add to it.

 

[Kayaker]

A thread of SOLUTIONS as you describe here is sorely needed. So many facets of our previous systems need rethinking. I am getting weary of ppl saying we can do nothing (except being the bystanders, armchair quarterbacks and learned helplessness drones they have created via gaming, Hollywood, SportsMachine, etc)
Even support actions like hoisting your flag, sending postcards to imprisoned patriots could generate the thought process that clearly most of us need embrace.
What do you think?

Hoisting the American flag? Could be useful as an anti-globalist sentiment, but most people aren't aware of the massive international influence on this country.

By imprisoned patriots, you mean people in jails and prisons? That's a great idea! They don't have much to do except talk to other inmates, so they have the time to learn about what's happening, and would be accepting of the ideas since most of them are in the lower class and not walking a fine line of stable employment and a clean criminal record like many white-collar middle-class people are.

 

[JonahMark]

This is a great condensed talk by Catherine Austin Fitts, with a cameo by a Big Bankster, about the momentum towards CBDC as a control mechanism, more so than cash.

https://www.youtube.com/watch?v=zorM6XOZ13o

There is so much going on behind the scenes to get their Prize: Ownership and Control of everything and everyone. Sounds like a movie plot from a Bond movie.
Oh wait.... that's been done. It seems quite insane. Because it is. Stay strong, stay healthy, stay vigilant and true.

You'll learn more on how our global financial system works from watching a video with Catherine Austin Fitts than any other financial book, video, seminar, etc. Stick to her, John Titus, and possibly George Gammon.

The inflate or die scenario is playing out so prepare accordingly. I've heard Robert Kiyosaki say stock up on gold, guns, and gas but i prefer the saying , "beans, bullets, bullion, and Bible". These are hard tangible assets without third party risks. Ask yourself, "where am i with the four b's?" One should sleep sound with these in mind.

 

[JonahMark]

If the same number of people who participated in last year's SJ protests were instead carrying posters saying "Defund the Fed", the charade/pandemic/reset would have been over by now.

A "Defund the Fed" or any abolish the fed type protest would get squash faster than a blink of an eye. That's why BLM and and ANTIFA protests exist, to keep the revolutionary spirits focused elsewhere instead of on the real crooks.

 

[Rafe]

Catherine Austin Fitts thinks the urban unrest is stimulated (not sure she says by whom exactly) to devalue inner city property so investors can buy it low. They could enterprise zone it into smart areas.

 

[nigma]

A truly independent, decentralized crypto currency will likely have such volatility as to make things like countries, national budgets, etc a thing of the past. Here we are with the Fed/bankers worrying if even a quarter of percentage point interest increase will destroy the economy. BTC can swing by 30%-40% in a single day. It can only work if there are no more govts around the world as no govt can survive such swings.

Bitcoin, being the only truly independent crypto currency, is highly volatile not as an intrinsic feature of its design, but only of its age. All things are volatile when they are small and young, this includes companies, new monies, countries, etc.. Think of babies flailing their arms about, think light ping pong balls being blown by the wind. As things grow and mature, they gain mass and aren't as easily moved by other entities. This concept applies to bitcoin, it is becoming less and less volatile overtime.

Bitcoin proved this especially this year, when many were expecting a 2017 style 20x run up in price, followed by a routine post bull run drop of -85%. But it didn't happen.... instead we got a 3x on the previous all time high and a -55% drop, it has been consolidating since.

Bitcoin is already reducing global serotonin levels by granting its users financial autonomy, due to its uncensorable, unconfiscatable and undilutable nature. Anyone that has understood this and had enough dopamine to take the leap to put a significant amount of their savings into it has been benefiting greatly. An entire country has adopted the bitcoin standard, i.e. ElSalvador, every merchant now accepts bitcoin. Recently the country relaxed its covid testing entry requirements a couple of days before a bitcoin conference, this was not a coincidence as many bitcoiners will refuse to be vaccinated as they see through the lies. Its obvious to them because they've studied the financial system and seen the systemic lies of it, its the same beast. Its also no coincidence that the two states in the USA that have the most relaxed covid policies are the ones that have been promoting bitcoin, Texas and Florida. Bitcoin is freedom.