September is the Month, We Finally Have a Date!

Debt out of control has in ancient times been dealt with in a very simple fashion on many occasions: a Jubilee! That changed during the Roman empire. A debt was a debt and you repaid it end of story.
It crushed economies, countries and people but the pound of flesh would be extracted. No matter the consequences.

And while it returned in some form or another during medieval times  the Roman mentality of eternal enslavement for those unfortunate enough to end up with debts to big to ever pay back is prevailing today

Our financial system is at the end of its life cycle allowing only a very tiny and unethical elite to earn all of the money, extracting all of the wealth of the rest of us and that system is beginning to break down in a spectacular way.

It turns out that the LIBOR (London inter bank offered rate) is fixed and may have been since its inception, It turns out that every other rate has been fixed, gold and silver may have been fixed, money is earned not by sensible human investors investing in real world enterprises but by computers making billions of transactions generating billions of dollars and that the bankers are selling us crap to get big bonuses.

It turns out that for example in the UK only 13% of GDP is produced by manufacturing jobs and that only 2% is added by the agricultural section. 

In Spain more than 25%  of the population is unemployed and more than 51% of the young are out of work. Think of it that is 1 out of every 2 young people who can not find any work if their life depended on it and with the austerity measures the government is foisting on its population that might very well be the case!

But… As those of us have been saying for may years now, the system is unsustainable. Reality will rear its head and when it does it’s going to be ugly. These predictions inevitable were followed with a question. If so, when?

That was of course always the problem. When!

People ridiculed me and said there is always something collapsing somewhere. The Roman empire, the Dutch empire,  the Russian empire, the Chauchesku regime all trees in the forest of time bound for decay and death as empires and regimes are wont to do but I always maintained that this time it would be a global event.

What most people don’t understand is that this is not a quick collapse. It is not something that takes place one day after which we can clean up and start again but when we look back at it we will see a cluster of events which were all in and of itself not the collapse moment but which all highlighted separate aspects of the fall of the system.

For example the Olympic games is one such event. The last Olympic games which will be remembered as an actual human sports event will be the Bejing Olympic games. The London Olympic games will be remembered as the games where while sport was still taking place, the games themselves were a virtual event bought by the Corporations as a giant ad for their products but not worth visiting in the flesh for their corporate minions who got the tickets to the games leaving the athletes to perform before empty stadiums and television cameras.

In a way it mirrors the financial system where while work is still done and things are still manufactured and food is still grown, the wealth creating machine is now the money and finance industry where computers do the buying and selling  and people buy and sell worthless pieces of paper based on assets that are no longer there and real world value is disappearing as real people run out of work, housing, food and life.

But… It seems we can now finally pin point at a time line which will lead to a more pronounced and visible form of collapse. The Deutsche bank, a bank which is one of the biggest and most insolvent banks has assembled a timeline of meetings, reports and countries trying to sell their government debt into September and while the damage won’t be visible straight away I am confident that in hindsight we will look at September 2012 as the month were the cracks in the system finally became visible for all.

And here is why:

Even if the German high court judges that financial independence can be sacrificed for a banker controlled greater European union, The Dutch voters don’t vote to get the hell out of the EU or Greece gives the key to the kingdom to some unelected little creep like Rompuy there is simply not enough money to buy out the collapsing chain of domino’s that is Europe.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s