The debt crisis and Peak Oil
Posted on 09. Dec, 2011 by admin in James Turk
Watch the full 30-minute video at In this video Chris Martenson – economic analyst at chrismartenson.com and author of The Crash Course – and Alasdair Macleod of the GoldMoney Foundation talk about the acceleration of the debt crisis, the US budget and Peak Oil. Martenson explains that once spending programmes are implemented, it is very hard to cut them back again. We are now at…
spiritofjubilee
15. Dec, 2011
The European debt crisis has set to hit new heights. Greece is now the first developed economy to force-restructure its sovereign-debt since World War II. According to current plans, private-sector investors will suffer 50% losses. Yet the double consequences are far and wide. First the symbiotic relationship between banks and governments has been mangled. Second the inhomogeneous Euro area will prevent Greece from recovering in time to avoid a total crisis.
In America: governments, businesses, individuals are now buried under a mountain of debt. A mountain of debt that will never be repaid.
Who will borrow when they can’t make the payments on the debt that they have already? The math alone calls for a system reset, a debt jubilee.
Investors are already losing… in a rigged monetary casino that rewards usury, speculation, and currency manipulation while looting main street.
There is a moral principle that debts should be honored. That is, debts between businesses that buy and sell real products, not bundled ponzi schemes, debts between individuals, between friends and businesses that know each other to be rational and moral, debts based on investments where there is a rational expectation of return.
There is also a moral principle that unjust debts should be cancelled, and usury legislated against. Debts that are ‘odious’, debts based on fraud, debts to dictators, debts arranged by oligarchs without the consent of the general population (the 99 percent who have been left out of the equation), debts based upon compound interest upon compound interest, that should have been written off long ago, the debts need to be cancelled in a general jubilee. Think outside the box. It’s time for a jubilee.