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How close are we to the Systemic collapse of the Global Financial System?. Meltdown How close are we to the Systemic collapse of the global financial system?. Oil is the fuel on which the Global Economy runs and credit is the grease.
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How close are we to the Systemic collapse of the global financial system?
Exponential growth of World population and economy coincided with the Start of the use of fossil fuels and fractional reserve banking
Pension time bomb
Global Debt Mountain
Someday soon all this will be yours
Then, over decades
WE DON’T SPANK THEM ANYMORE. WE JUST TELL THEM HOW MUCH THEY OWE TO THE NATIONAL DEBT
Some inter-related oft-quoted systemic causes……
Some human and non systemic causes
The real systemic causes that are rarely discussed …
Nothing has been done to address these issues
Money is the foundation of the economy and society
Henry Ford……“It is well enough that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -
Coins and Bank notes are produced by the Central Banks
These account for 3% of the total money supply . Where is the rest of the 97%?
“To work, this financial alchemy requires the implicit support of the tax payer.”
He said that possible remedies included not just breaking up banks, but also “eliminating fractional reserve banking”
When a bank makes a loan, it increases the amount of money in the hands of the public, by increasing total amount of electronic bank deposits….. And vice versa, when a loan is repaid or written off, money is destroyed
Interest must be paid with more $’s, ie more debt
Fiat Money is Debt
“Give me the right to issue and control a Nation’s money and I care not who governs the Country”
Meyer Rothschild, International banker(1774 -1812)
Sir Josiah Stamp, Director, Bank of England, 1940….. “Bankers own the earth; take it away from them but leave them with the power to create credit; and, with a flick of a pen, they will create enough money to buy it back again... If you want to be slaves of bankers and pay the cost of your own slavery, then let the bankers control money and control credit. Take this great power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this would be a better and happier world to live in. But if you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit.”
There are now 6.5 billion (6,500,000,000) people in the World, all becoming more and more addicted to oil
Every second, 7 babies are born, 4 people die, 3 extra humans in the World
Every day, there are 250,000 extra humans in the World
That’s the population of New York every month
70 million every year
Pension time bomb
Over 23% of Florida’s Population is over 60
The pension plans of the world’s largest multinationals have fallen further into deficit despite record company contributions, new research shows.
The European Pensions Briefing 2010 report by consulting actuary LCP, found the aggregate accounting deficit stood at €160bn ($209bn) at the end of September 2010, up from €150bn at the end of last year.
Kenneth Boulding, economist
Heads 4 & 5
• Consumers are only interested in delivery flows
• Many commentators talk of reserves and forget flows
• Reserves are only useful as flows
Peak oil is the point when worldwide production of conventional crude oil peaks
US economy represents 25% of global economy
European Union also represents 25%
This index indicates that global shipping is now one sixth of what it was in 2008
1. The mortgage debt crisis
2. The sovereign debt crisis
3. The bank failure crisis
4. The city and state debt crisis
5. Dependency on foreign oil imports
Much of Old World infrastructure predates the invention of the internal combustion engine. Communities were connected by walking and riding horses. Here is a typical English village as it is today
You can’t go anywhere in the States, or Canada, or Australia, or New Zealand without a car
The world’s largest single asset class in value is in deep trouble
Bursting of asset bubbles such as property, stock markets, commodity prices
Collapse of large financial institutions
Collapse of shadow banking system (investment banks and hedge funds)
Sovereign debt defaults
Major Bank bankruptcy
Series of minor Bank runs
All of the above, cause loss of paper wealth but real economy may continue. The next crisis is potentially catastrophic
Is this going to happen?
or something completely different….
The State and corporate cartels have every incentive to maintain the status quo at all costs, so change will probably come from unconventional innovations