Big Banks Are Destroying America (and the World)

The mainstream media has disclosed very little about the frauds at bankster banks over the last four years, but it is starting to show up in major financial websites and blogs. The Wall Street Journal’s “Market Watch” provides a good description of the problems, and embedded in the piece is an excellent summary by Barry Ritholtz that documents the manipulations. Barry’s last bullet in his “Big Picture” says it all:

  • The big banks own the D.C. politicians … so Congress and the White House won’t do anything unless the people force change

The analysis and big question that is not provided by these pieces is: What does history say will be the most likely outcome?

History proves that the people will not force the change, and the result will be a financial collapse that leads to revolutions all over the globe as a result of sovereign defaults and the end of dollar hegemony. As economic conditions deteriorate to the point of desperation – usually when food cost exceeds the people’s ability to keep food on the table, revolt ensues. These conditions festered in the Middle East and N. Africa for decades and finally exploded in 2011 with the “Arab Spring”.

The explosion of Food Stamps in the U.S. over the last five years has kept a lid on the “desperation” at home. However, as interest rates inevitably rise, the ability of the Federal, State, and Local Govt’s to roll their debt will evaporate, and so will their ability to pay for benefits like Food Stamps. In the meantime, as debt has been added while interest rates are low, the purchasing power of the Food Stamp dollars continues to decline as the currency is devalued.

The end game is clear. The question is, do we want to die a slow death like a frog in boiling water, or do we want to rip off the monetary band-aid quickly? Japan is a recent example, and history is replete with many more, that warn us to invest in a temperature-resistant suit that can withstand 212°F. When will the temperature be turned up and the SHTF? All the different cycle analysis’ have point to late 2015, and Erik’s chart of the Labor Market shows the same (the upper chart is Weekly Initial Jobless Claims (AWIC), which should start turning up and break the downtrend line next summer).

If you think the people will force the change before desperation sets in, ask yourself if you are willing to march on the National Mall now like Egyptian’s in Tahrir Square, and Tunisians (again now).

The U.S. Govt knows the days are numbered for the eventual civil disturbances and uprisings. That is why they have been ordering BILLIONS of rounds of hollow point bullets (designed to kill and outlawed in war), providing tanks for municipalities, conducting military exercises in cities across the country, and trying destroy or go around the 2nd Amendment.

The longer we wait to rebel, the less likely we will be able to, the worse will be the terms of the deal, and the greater the chance we are drawn into a distractive World War.

If you want to start doing something now, at least start with the 5- STEPS.


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