Megalomaniacs never concern themselves with reason – unless of course it’s their own form of it – they merely press forward from within their cocoon of intellectual insolvency, plowing over anything that stands in their way in the process of rendering unto themselves that which suits their fancy.
This past week an interesting story appeared, which I recommend you read as it will proved context and texture to this commentary, titled “The Untold Story Behind Saudi Arabia’s 41-year U.S. Debt Secret”, which (in part) describes what has been going on, in a not so secret way, for well over a century. The use of Debt-Funded Plundering to both control economies and to entrap those who become subject to it.
The global banking system has perfected the process which continues to this day; it’s a scheme that uses the mask of Political Hubris to camouflage Economic Plundering and when necessary the machine will use military engagement to advance and enforce it. The current iteration finds its core in the early 1970’s when Nixon found himself faced with a serious problem. A sort of economic terminal velocity brought about by exploding military spending (Vietnam War), little-to no economic (domestic) expansion due to, in part, spiraling inflation coupled with near-zero domestic investment and a serious run-up in petroleum prices due to a strategically-planned to expand middle-east oil investment and ultimately production all under the guise of OPEC.
Nixon was faced with a serious problem; the U.S., once in possession of the single largest reserve of Gold Bullion was running dangerously close to bottom. At that time, international settlement, in lieu of Dollars, could be made on demand in Gold and the French were making a point of it. Some would argue that they had every right to require settlement in Gold vs. inflated U.S. Currency. In short; the U.S. needed a mechanism for funding the Purchase of Government Debt that couldn’t be redeemed in Gold. Nixon did, and I believe rightly so, revoked a portion of the Brenton-Woods agreement relating to “settlement” and the transfer of U.S. Gold Reserves was thereafter suspended.
Where he (Nixon) went off-book was his acceptance of expanding the Debt-Funded scheme, the result of which was to further conscript the U.S. into, as there demand for debt sales increased, the tacit acceptance of OPEC dominance. This moved more and more Dollars around the Globe and outside the U.S. Economy while simultaneously extracting more and more wealth out of the U.S. Domestic Economic Environment to shoulder the debt-burden. All of which entitled the Western Banking System (IMF & BIS) to a steady harvest from any nation who either had massive stores of U.S. Currency/Debt or who was in need of it in order to transact on/in the Global Marketplace. Nixon’s error was that he believed (what he was told) that there was no other choice when, in reality, the choice given was by design predetermined; today, the world is, in geo-political and economic terms, merely a projected extension of these decisions.
No country existing on the planet today has been able to escape the effects of this scheme. A self-revolving incubator of debt-funded economic expansion (inflation) based solely on the leveraging of Crude Oil and the manipulation of its source and supply. To say we’re in uncharted waters is an understatement. There is possibly as much as $75 Trillion in U.S. “Paper” (On-Book and Off-Book) floating around the planet much of which is tied up in various “sovereign” wealth accounts and/or held in State-Treasuries. All of which simulates banked wealth by those Countries who hold said “paper”. If they flood the markets with this “paper” it’s reasonable to assume that it becomes worthless so it’s unlikely they would be so rash, but what of the next round of Treasury Auctions? Do Buyer’s turn their backs or, to preserve the status-quo, are they forced to purchase more of what they already know to be worthless?
At some point an event will take place, a trading-program software “glitch” or some other strategic anomaly, perhaps the much feared “Black Swan”, and the market will invert. The Dollar will take a massive plunge and a series of unknown market-makers or Shadow-Banks will quietly buy up this now worthless paper and quietly retire it much like all the debt the FED & U.S. Treasury vaporized during 2007-2010.
A majority of the People will of course be even more broke than before, but not to worry so long as the humans do not incinerate the planet or each other the financial slate will be clean and the inflationary debt-funded scam will start all over again. Who knows, the next time it may not be crude oil, but perhaps water that will become the commodity of choice.
You see, again, it’s not about reality but more so about the simulation you are pressed into believing. The illusion remains grand only if you can find a sufficient number capable of paying for it, but even that scenario works for only so long and what we know about illusions is absolute; they always fail.
The following are a select group of responses to question/comments received after the original article was published. We believe you will find them of interest.
#1: You understand this right? You understand that while you’ve been told that if we tax the productive of our countrymen we’ll have enough to feed everyone for free? That you have free school, free health care, free retirement, free housing, open boarders, free-trade etc.? No cost, no price? Well now you have, other than me, an alternative document of proof that you’ve been paying for it all along. A magnificent simulation was it not? Don’t feel too bad; Richard Nixon fell for the same illusion as he also was told there was no price the country wouldn’t gladly pay to appear fashionable and oh how we do love to be fashionable!
Curtis C. Greco, Founder
