If further proof is needed that the mainstream media are in the tank for Hillary, look no further than the student loan debt crisis facing many of our youth, who cannot find good jobs to pay back the massive pile of debt required to pay for runaway tuition prices. It was Bill Clinton who handed the students head on a platter to his bankster donors, when he signed the Higher Education Amendments in 1998, which made it virtually impossible to discharge student loan debt in bankruptcy. Only a person who participated in the MKUltra project could believe that Hillary is for the little guy.
The bankruptcy process is the free market’s way of protecting against imprudent lending. If banks must suffer the consequences of making bad loans, they will conduct the proper due diligence to maximize the probability of getting their loans repaid. However, if lenders can make loans that the govt backs with the promise to hound the borrower until they die, then the consequence for imprudent lending is reduced, resulting in loans being made to anyone with a pulse. As long as we have career politicians like the Clinton’s and Bush’s, banksters and anyone looking to eliminate the competition (i.e. healthcare industrial complex) will find it easy to buy the perfect, risk-free trade.
When ignorance gets started it knows no bounds – Will Rogers
Just as this imprudent lending produced the real estate bubble and mortgage crisis, the over-abundance of student loan money has driven tuition costs beyond what can be afforded by a part-time job, as was the case before the financialization of America and explosion of debt that started in the early 80’s. Just like all subsidized industries (i.e. healthcare), universities are more than happy to take the money to pay for unsustainable pensions, without any incentive to actually graduate kids with the skills needed to obtain a job they went to school for, which now applies to 60% of graduates. BTW, these same negative consequences would result with Bernie’s plan to make Wall Street and tax payers pay for a free ride, except his plan insures there will be less jobs available for the unprepared graduates. The lessons from our grandparents still apply – you get what you pay for, and there’s no such thing as a free lunch.
Pictured above includes, infamous insiders Larry Summers (far left) and Boehner (far right). Who you don’t see is McCain (between Greenspan and Phil Gramm).
It just so happens that this unbridled, imprudent lending practice was also unleashed by the Clintons when Bill signed the Gramm-Leach-Bliley Act in 1999, which dismantled Glass-Steagall, the legislation that was put in place in 1933 (after the 1929 crash) to separate traditional (relationship) banking from commercial (transactional) banking. Once commercial banks could use grandma’s savings for their PROPrietary trading, and get their too-big-to-fail losses covered by the tax payer, well, as they say, the rest is history.
All the Democratic candidates have bemoaned the consequences of rescinding Glass-Steagall, and the massive student loan debt problem, which now exceeds credit card debt, but not one debate moderator or journalist has asked Hillary if she thought it was a good idea for Bill to screw college students. Instead, the mainstream media deflects and misdirects, as they have done by renaming the financial crisis “the great recession” so people don’t associate it with the financial industry.
Like Hillary, Obama pretends to be for the little guy, yet his Justice Department has not prosecuted even one high-level executive for the well-documented financial frauds. It’s not a mystery that Obama and Hillary are owned by the banksters, or that those dependent on govt handouts will conveniently ignore the facts. However, what is totally dumbfounding, is how the so-called educated elite and cerebral celebrities can buy the BS (or maybe the BS bought them).
The only thing better for a bankster bank than speculating with someone else’s money, or having the govt hold a gun to a student’s head to repay un-payable student loans, or having the taxpayer bail-out bad bets, is for the paid-off politicians to pass a law that makes it acceptable for bankrupt banks to simply steal depositors money, through the process known as “bail-in”. The warped concept of bail-ins is not new for Twisted readers, but for those that missed what happened to depositors in Cyprus or account holders at MF Global, there will be new opportunities to witness this creative bank bail-out scam, as it became official in the EU on January 1, 2016.
If you don’t already know, when you deposit money in a bank you are actually lending the bank your money (for next to nothing under ZIRP), and as the fine print of your bank statement says, you are an unsecured creditor. Even though the formal roll-out is only starting in Europe, where the banks are in the most dire straits; all western govt’s have already made the bail-in the “solution” for the next crisis, which will spread from Europe to Japan, and eventually to the US in a few years.
Does anyone have any doubt that bank-backed Barry and Hillary will introduce Americans to bail-in’s and electronic money, which is needed to eliminate the ability to hoard cash; as well as track, confiscate, and tax as needed? Of course, the push to eliminate cash will be sold as a means to eliminate theft, which due to Wi-Fi technology will actually make it easier to steal money from bank accounts (and a convenient excuse when your money goes poof), not to mention the increased transaction fees for the banks.
To better understand why European banks and borrowers are in such bad shape, one needs to have an appreciation for currency exchange. Not only have countries like Greece, Spain, Portugal, and France spent well beyond their means, but they have also borrowed in cheaper US dollars, which have appreciated against the euro by 24% since April 2014, and 33% since 2008. The ability to repay these dollar-based debts in euro’s will only get worse, since the IMF added the Chinese Yuan to the basket of currencies that make up the IMF’s currency, called the SDR (Strategic Drawing Rights), which will reduce the amount of euro’s that banks must hold by 16%.
When the Swiss pegged their currency to the euro to stem the rise in the franc, which hurts their exports, many eastern European companies borrowed in the safer Swiss franc, especially for mortgages. When the Swiss removed the peg, the franc, along with the franc-based debt, immediately jumped 20%. This currency-related debt problem also happened to the weaker European countries, like Greece, when they joined the euro. All those Greek drachma-based debts doubled when the euro doubled in the first two years of existence. These countries are being treated like students that have too much debt that can never be repaid, but the authorities keep increasing austerity (higher taxes and less services) to make sure the politically-donating banks get their interest payments.
US Dollar Index
After an inevitable bounce in the euro in the next few months, which will help get more of the dollar haters off sides, the US-dollar will continue its upward trend against the majority of currencies around the world, as capital seeks the relative safety from economic and political degradation around the world. The balance sheets of companies and govt’s that borrowed in dollars are going to blow up. A rising dollar will also hurt US exports and employment, as Americans buy the cheaper foreign goods. If you think that this may lead to civil unrest and violent protest, as the people become more desperate (especially in Europe with the influx of Syrian refugees that are further taxing their welfare system), you would be right.
If you want to know how bail-ins can be enforced and protests squashed, again, look no further than the EU, that is using the refugee crisis to implement its own army, that listens only to the unelected bureaucrats in Brussels. This unaccountable new army can override the will of the people in sovereign countries. In violation of Posse Comitatus Act, the Obama Administration will have no trouble using the military on US soil (again), or simply giving a wink and nod to the militarized police in this country to do the heavy lifting.
Since the police may have some hesitation turning on their follow citizens, as happened in East Germany and led to the fall of the Berlin Wall; the US govt has been preparing for the conscientious objectors by conducting joint training exercises with foreign fighters, that would not hesitate to crack down on US citizens. Unlike the defenseless citizens in Europe that never seem to learn from history, the US govt will find it much more difficult to impose their oppressive will, as long as American’s maintain their right to bear arms.
People that know their history have been warning about Obama’s attempts to circumvent the 2nd most important Amendment to the Constitution. Just as with Obamacare, globull warming, and the NSA vacuuming up all your personal data; the propaganda and misinformation about gun violence will be ramped up this year…and yes, this includes unleashing more CIA and FBI-coerced “terrorists” with guns.
For those that think these psychotic actions by govt are impossible, need I remind you about Operation Northwoods, where the US govt planned to commit acts of terrorism against its own citizens in 1962, and use the attacks to justify a war against Cuba. Of course, there are plenty more current operations, like the most recent terrorist plot in Rochester, where we are suppose to believe that a pan-handler suddenly had enough money to buy all the supplies needed to carry out the plot. NBC actually reported the truth about the supplies being bought by the FBI. For those that care to look, there are plenty more FBI-coerced “plots”, like here, here, and here, designed to keep the public in a constant state of fear and believing it is only the govt that can keep us safe.
We also are supposed to believe that it’s just a coincidence that so many terrorist events occurred around the same day when authorities were conducting “drills”, intended to confuse bystanders as to what is truly real and what is not, which also occurred in the recent “terrorist” attacks in Paris and San Bernardino. Always remember, Hell hath no fury like a bureaucrat afraid of losing his job, perks, and power, which will be unleashed after they try taking our guns and imposing economy-killing taxes to fight the terrorist they fund, supply, and coerce.
While there are places like Texas and Switzerland that live in reality, other places like California are carrying the torch for the delusional believers in govt. On January 1st California enacted a law that would allow the State to confiscate guns from most California dreamers, as the majority of resident are taking some kind of anti-depressant, or have some record of alcoholism or anger-management. Include the returning vets suffering from PTSD, and everyone else in the country that qualifies for anti-depressants or some other condition that can be classified as a mental disorder, and the govt will be well on its way to ridding law-abiding citizens of their constitution right to bear arms. Of course, all the criminals will still get their weapons of choice on the black market, and the crazies also have their suppliers at the FBI and CIA.
Diligence will be necessary, as we can’t forget that Americans voted for Clinton, Bush and Obama, TWICE; and that at least one-third of the people think Hillary is for the little guy; and that Bernie is the only guy in history that can finally make Socialism work, while simultaneously preventing the seasons from changing; and all the Neocons on the Right will keep us safe from the terrorist that we arm and the Russians who are trying to kill ISIS, while the NSA tracks everyone’s personal information, but can’t seem to thwart even one terrorist event, because they’re too busy hunting money for a broke govt.
For those that have been raised believing that govt is on their side and will take care of them from cradle to grave, the natural reaction might be depression or to write off everything as conspiracy theories. For those that care about maintaining the freedoms our founders intended, I say don’t despair. There are solutions. What the world is experiencing is the collapse of Socialism, or that period in time that was predicted by Margarat Thatcher, when govt runs out of other people’s money. Granted, govt will do everything in its power and then some to hang on to their perks and power, but make no mistake, the collapse is coming and it will be obvious in Europe and Japan in 2016.
Since broke govt’s always resort to war as the ultimate distraction from their fraud and incompetence, the risk of a major war in 2017 is a serious concern, especially with all the war-mongering presidential candidates that are on the payroll of the military industrial complex. While 2016-2020 will present many challenges to our liberty, the force for freedom is on the rise and can prevail, just as we have throughout our history. It is an exciting time in which to live. The first step in the right direction is to vote out ALL incumbents, every election. This makes the ROI (Return on Investment) unattractive for lobbyist when they need to bribe a new politician every election.