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Weimar America, Here We Come! Virus Hysteria Adds $10 Trillion to the National Debt
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There’s no doubt that the Coronavirus is a serious infection that can lead to severe illness or death. There’s also no doubt that ‘virus hysteria’ has been used for other purposes. Wall Street, for example, has used virus-panic to advance its own agenda and get another round of trillion dollar bailouts. In fact, it took less than a week to get the pushover congress to ram through a massive $2.2 trillion boondoggle without even one lousy congressman offering a peep of protest. That’s got to be some kind of record.

In 2008, at the peak of the financial crisis, Congress voted “No” to the $700 billion TARP bill. Some readers might recall how a number of GOP congressmen bravely banded together and flipped Wall Street “the bird”. That didn’t happen this time around. Even though the bill is three times bigger than the TARP ( $2.2 trillion), no one lifted a finger to stop it. Why?

Fear, that’s why. Everyone in congress was scared to death that if they didn’t rush this debt-turd through the House pronto, the economy would collapse while tens of thousands of corpses would be stacking up in cities across the country. Of course the reason they believed this nonsense was because the goofy infectious disease experts confidently assured everyone that the body-count would be “in the hundreds of thousands if not millions.” Remember that fiction? The most recent estimate is somewhere in the neighborhood of 60,000 total. I don’t need to tell you that the difference between 60,000 and “millions” is a little more than a rounding-error.

So we’ve had the wool pulled over our eyes, right? Not as bad as congress, but, all the same, we’ve been hoodwinked and we’ve been fleeced. And the people who have axes to grind have been very successful in taking advantage of the hysteria and promoting their own agendas. Maybe you’ve noticed the reemergence of creepy Bill Gates and the Vaccine Gestapo or NWO Henry Kissinger warning us that, “the world will never be the same after the coronavirus”.

What do these people know that we don’t know? Doesn’t it all make you a bit suspicious? And when you see nonstop commercials on TV telling you to “wash your hands”or “keep your distance” or “stay inside” and, oh yeah, “We’re all in this together”, doesn’t it leave you scratching your head and wondering who the hell is orchestrating this virus-charade and what do they really have in mind for us unwashed masses??

At least in the case of Wall Street, we know what they want. They want money and lots of it.

Have you looked over the $2.2 trillion CARES bill that Trump just signed into law a couple weeks ago? It’s pretty grim reading, so I’ll save you the effort. Here’s a rough breakdown:

$250 billion will go for the $1,200 checks that most of us will receive in a couple weeks. And $250 billion will be provided for extended unemployment insurance benefits.

That’s $500 billion.

Working people will get $500 billion while Wall Street and Corporate America will get 3 times that amount. ($1.7 trillion) And even that’s a mere fraction of the total sum because– hidden in the small print– is a section that allows the Fed to lever-up the base-capital by 10-to-1 ($450 billion to $4.5 trillion) which means the Fed can buy as many “toxic” bonds and garbage assets as it chooses. The Fed is turning itself into a hedge fund in order to buy the sludge that has accumulated on the balance sheets of corporations and financial institutions for the last decade. It’s another gigantic ripoff that’s being cleverly concealed behind the ridiculous coronavirus hype. It’s infuriating.

So here’s the question: Do you think Congress knew that working people would only get a pittance while the bulk of the dough would go to Wall Street?

It’s hard to say, but they certainly knew that the economy was cratering and that $500 billion wasn’t going to put much of a dent in a $20 trillion economy. In other words, even if everyone goes out and blows their measly $1,200 checks on Day 1, we’re still going to experience the sharpest economic contraction on record, a second Great Depression.

Maybe they should have talked about that in congress before they voted for this trillion-dollar turkey? Maybe they should have thought a little more about how the money should be distributed: Should it go to the people who actually buy things, generate activity and produce growth, or to the parasite class that blows up the system every decade and drags the economy down a black hole? That seems like something you might want to know before you pass a multi-trillion dollar bill that’s supposed to fix the economy.

It’s also worth noting that the $5.8 trillion is not nearly the total amount that Wall Street will eventually get. The Fed has already spent $2 trillion via its QE program (to shore up the dysfunctional repo market) and Fed chair Jay Powell announced on Thursday that another $2.3 trillion in loans and purchases would be used to buy municipal bonds, corporate bonds and loans to small businesses. The allocation for small businesses, which falls under the, Main Street Lending Program, has been widely touted as a sign of how much the Fed really cares about struggling Mom and Pop businesses that employ the majority of working Americans. But, once again, it’s a sham and a boondoggle. The program is on-track to get $600 billion funding of which the US Treasury will provide the base-capital of $75 billion. The rest will be levered-up by 9-to-1 by the Fed, which means it’s just more smoke and mirrors.

What readers need to realize is that the Treasury has accepted the credit risk for all of the loans that default. In other words, the American people are now on the hook for 100% of all of the loans that go south, and there’s going to be alot of them because the banks have no reason to find creditworthy borrowers. They get a 5% cut off-the-top whether the loans blow up or not. And, that, my friend, is how you incentivize fraud which, as Bernie Sanders noted, “is Wall Street’s business model.”

It also helps to explain why Trump has repeatedly rejected congressional oversight of the various bailout programs. He’s smart enough to know a good swindle when he sees one, and this one is a corker. The government is essentially waving trillions of dollars right under the noses of the world’s most ravenous hyenas expecting them not to act in character. But of course they will act in character and hundreds of billions of dollars will be siphoned off by scheming sharpies who figure out how game the system and turn the whole fiasco into another Wall Street looting operation. You can bet on it.

So, what is the final tally?

Well, according to Trump’s chief economic advisor, Larry Kudlow, the first bailout installment is $6.2 trillion (after the Fed ramps up the Treasury’s contribution of $450 billion.). Then there’s the $2.3 trillion in additional programs the Fed announced on Thursday. Finally, the Fed’s QE program adds another $2 trillion in bond purchases since September 17, when the repo market went haywire.

Altogether, the total sum amounts to $10.5 trillion.

You know what they say, “A trillion here, a trillion there, pretty soon you’re talking real money.”

Of course, no one on Capitol Hill worries about trivialities like money because, “We’re the United States of America, and our dollar will always be King.” But there’s a fundamental flaw to this type of thinking. Yes, the dollar is the world’s reserve currency, but that’s a privilege that the US has greatly abused over the years, and it’s certainly not going to survive this latest wacky helicopter drop. No, I am not suggesting the US would ever default on its debt, that’s not going to happen. But, yes, I am suggesting that the US will have to repay its debts in a currency that has lost a significant amount of its value. You don’t have to be Einstein to figure out that you can’t willy-nilly print-up $10 or $20 trillion dollars without eroding the value of the currency. That’s a no-brainer. Central bankers around the world are now looking at their piles of USDs thinking, “Hmmm, maybe it’s time I traded some of these greenbacks in for a few yen, euros or even Swiss francs?”

So how does this end? Can the Fed continue to write trillion dollar checks on an account that is already $23 trillion overdrawn? Will Central banks around the world continue to stockpile dollars when the Fed is printing them up faster than anyone can count? And what about China? How long before China realizes that US Treasuries are grossly overvalued, that US equities markets are unreformable, that the dollar is backed by nothing but red ink, and that Wall Street is the biggest and most corrupt cesspit on earth?

Not long, I’d wager. So, how does this end? It ends in a flash of monetary debasement preceded by a violent and destabilizing currency crisis. It’s plain as the nose on your face. The Fed knows that when a nation’s sovereign debt exceeds 100% of GDP, “there’s almost no mathematical way to service that debt in real terms.” Well, the US passed that milestone way-back in 2019 before this latest drunken spending-spree even began. It’s safe to say, we’ve now entered the financial Twilight Zone, the Land of No Return. If we add the Fed’s bulging balance sheet to the final estimate, (after all, it’s just another shady Enron-type Special Purpose Vehicle) the national debt will be somewhere north of $33 trillion by year-end, which means that Uncle Sam will be the greatest credit risk on Planet Earth. Imagine how jaws will drop on the day that Moodys and Fitch slash the ratings on US Treasuries to Triple B “junk” status. That should turn a few heads.

So what can we expect in the months to come?

First, the economy is going to slip into a deflationary period as people get back to work and slowly resume their spending. But once demand picks up and the Fed’s liquidity starts to kick in, the economy will rebound sharply followed by steadily rising prices. That’s the red flag that will signal a weakening dollar. Similar to 1933, when Roosevelt took the U.S. off the gold standard and printed money like crazy, economic activity picked up but the value of the dollar dropped by 40%. A similar scenario seems likely here as well. Economist Lyn Alden Schwartzer summed it up like this in an article at Seeking Alpha:

“One of the common debates is whether all of this debt, counteracted by a tremendous monetary expansion by the Federal Reserve in response, will cause a deflationary bust or an inflationary problem…..Fundamentally, evidence points to a period of deflation due to this global shutdown and demand destruction shock, likely followed in the coming years by rising inflation….

In the coming years, the United States will be effectively printing money to fund large fiscal deficits, while also having a large current account deficit and negative net international investment position. This is one of the main variables for my view that the dollar will likely decrease in value relative to a basket of foreign currencies in the coming years….” (“Why This Is Unlike The Great Depression”, Seeking Alpha)

So, after decades of lethal low interest rates, relentless meddling and gross regulatory malpractice, the Fed has led us to this final, fatal crossroads: Inflate or default. From the looks of things, the choice has already been made. Weimar America, here we come!

 
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  1. nCorona virus is an intentionally released bioweapon that was designed to reek havoc worldwide as subterfuge for information operations to acclimatize the world towards totalitarianism due to the fact that the system is insolvent worldwide Fractional Reserve Banking empire & system.

    This is like an insurance job whereby the restaurant is torched & the insurance industry turns the other cheek on making the perpetrators whole off the back of those that underwrite the insurance.
    In the case of Wall Street monetary Heroin junkies they would sell the US taxpayers out for a slice of pizza.

    Marc Carney signaled & telegraphed the UN Climate Change Green Finance revolution with his new placement at UN Bank which happens to be stacked to the rafters with fresh new money for Green Finance speculators in the BIG leagues.

    nCov-19 gets released as subterfuge over the travel season peak flow of travellers and the epicenter looks to be Wuhan which is primary target for CIA jackals, regime changers, and Psyops against Xi’s leadership to foment civil disunion and muster propaganda armies against the Communist Party leadership.

    Trump initiated Smoot-Hawley Act II Trade War 2019 with China and lost the markets in the process. Back in September the CIA knew that America was heading into the Greater Depression because it was by then obvious that the Treasury Secretary & Federal Reserve Chair were going to have to approach Congress in November for the new round of Quantitative Easing #4 which is like asking them to repeat the process of TARP begging for money in Nancy Pelosi’s office boardroom again with cameras in tow & requisite NYT journalists/propagandists in tow too.

    Congress is used to wearing egg on their collective face, but Wall Street banksters don’t particularly appreciate begging for welfare & Social Assistance for Wall Street Investment Bankers because it tarnishes their stellar reputations & Rock Star image.

    Jamie Dimon does not want to be interrogated in Congressional testimony in front of American taxpayers that he is fleecing for the umpteenth time.

    Americans have to face the facts of life here and admit that Congress is selling American taxpayers out to Wall Street fraudsters & serial felon banks like Citi, Goldman Sachs, JPMorgan Chase, BofA, et cetera.

    Occupy Wall Street is outlawed post-nCov-19 release as martial law has been imposed via slight of hand in the deep state apparatus of Medicine & Virology/Epidemiology.

    Medical Martial Law has been imposed worldwide because the Epidemiologists know this is a BSL-4 bioweapon.

    RW

  2. Meimou says:
    @Robert White

    I don’t know if covid1984 is a bioweapon, but the pandemic is a hoax.

    The Motherload of Coronavirus Conspiracy Resources – Links Exposing the Plandemic Fraud

    Best collection of sources proving the hoax.

    • Thanks: mark green
    • Replies: @Achmed E. Newman
    , @Herald
  3. cortesar says:

    Those poor children yet to born have no idea that they will spend their lives as slaves,working to pay debts of their corrupted and cowardly forebears
    The orange clown came the other day and said that he did tremendous job and if it was not form millions would have died
    No reasonable and sane soul would expect anything else from this con man and his ilk
    10 trillion,that is nothing if we win this war against flu followed by another against death itself and thus completing the the holy trifecta of wars of which first was the war against terror.
    I see these clowns all around world “fighting wars against invisible enemy”, the glory of Napoleon and Caesar instantly fades away when compared to such a courage and brilliant strategy but above their love of humanity

  4. For the record one Congressman did put up a fight. He is Kentucky Representative Thomas Massie. He would be a good candidate for President some day but there probably won’t be a republic to be the president of for much longer.

    • Agree: kikz
  5. I’ve noted before that COVID-19 stats on American servicemen are interesting since they are mostly younger and must not have serious health conditions to serve. Military.com reported on April 7th: “Of 1,521 service members who have tested positive, one has passed away, a 57-year-old New Jersey Army National Guardsman.”

    https://www.militarytimes.com/news/your-military/2020/04/07/defense-department-covid-19-death-toll-rises-to-7/

  6. Anonymous[327] • Disclaimer says:

    So if I understand correctly, this is a 45% increase in the total national debt because the economy was hit hard for one quarter? This disproportionality alone seems like a good indicator that runaway inflation is approaching.

    As the author points out, we’ll go through a deflationary period first. This seems like an excellent point to convert cash into assets that can survive the inflationary period. My guess would be:

    Agricultural Land
    Gold
    Gold mining shares
    Security companies
    Repo companies

    Any more?

  7. “No, I am not suggesting the US would ever default on its debt, that’s not going to happen.”

    Unless the money is owed to China.

    Our ‘elites’ have been planning this a long, long time.

    Launch the virus in China, and when the bug inevitably spreads from there (naturally or otherwise), blame China for the world’s (well-planned) economic fallout. Get Japan and the UK/EU vassal states to join in the chorus. Make China pay for everything. Refuse to honor the vast US debt owed China, then slap sanctions on for the remainder. Pop the world derivatives bubble and hand China the bill.

    Of course, none of this will go to help the middle classes or below. They’ve already got their life-changing $1,200 payment and a few extra months of unemployment checks, so quit whining. Need a job? Learn to code. Or join the military. Too old? Then don’t be selfish, consider suicide (you know, like so many of our veterans we claim to love, honor and respect so much.)

    And guess who’ll benefit most? Our financial ‘elites’, of course. They’ll need to be fully reimbursed for their claimed losses, whether those are real, wildly inflated, or even imaginary. Double and triple-dipping welcomed. Line up for more free money.

    Because it’s all China’s fault.

    • Agree: Digital Samizdat, tomo
  8. FB says: • Website

    More stupid and ahistorical propaganda against FDR…who only saved the country, and especially the working people…

    When he took office in 1933 the system was completely blown up by the same wall street parasites…the landless rural poor forced into migration by the millions…

    The country suffered a population shortfall of ten million in the 1930s…a US Holodomor…

    FDR righted the ship…huge national infrastructure projects brought rural electrification and indoor plumbing to the rural population, which was the majority back then…

    These huge projects built modern America as we know it…and it was paid for by the Reconstruction Finance Corporation, designed to bypass the criminal banking system…

    That the US dollar lost value was a GOOD THING for industry and exports…it had nothing to do with FDR exiting the gold standard, another good thing, designed to stick it to speculators…

    As the country ramped up for WW2, the US became the world’s industrial superpower…ushering in the golden age of living standards for ordinary folks, which lasted into the ’70s…

    Whitney is usually worth reading, but he really whiffed an airball here…

  9. Moodys won’t go down with the ship, they’ll be behind the curve here, as they have been. US should have a much lower rating already, given its market is just being supported with seignorage at this point, but the US will be well rated even as hyperinflation runs rampant and their doors shut for business.

    As for the covid estimates being ‘wrong’.. Ceterus paribus – other things were not equal, the estimates were for a laissez faire approach, which is not what is happening now. Of course we don’t know if it’s 2% or 20% that has had this thing in European populations, because no widespread testing yet.. So if 20%, sure – panic and wrong assumptions, but if only 2% have had it, then the estimates were less panicky.

  10. So what. The “debt” does not matter. You bozos think it’s like your own personal debts. Inability to see beyond your own backyards is rife around here.

    No.What is wrong here is that they gave the trillion to the bankers. If they had given it to Main Street, everything would be alright and the “national debt” be damned.

    You don’t exactly understand money.

    • Replies: @Digital Samizdat
    , @bluedog
  11. @nickels

    Nobody seems to be talking about

    BlackRock’s Profit Plunges 60% as Assets Slip Below $6 Trillion
    thestreet com/markets/blackrock-posts-first-profit-drop-in-two-years-after-market-turmoil-14836363

    The Fed reportedly asks BlackRock to buy billions in bonds …
    markets.businessinsider com/news/stocks/federal-reserve-asks-blackrock-coordinate-coronavirus-relief-bond-purchases-mbs-2020-3-1029030990

    Seems like Fed>Treasury>Blackrock is one of the two most important issues of the day (the other being the obliteration of the Bill of Rights and freedom).

    Blackrock has been or is about to be handed trillions so they can “buy” countless bonds? Seems like a lot of power over a lot of things, such as where the trillions will actually go, and the fate of companies with bond-debt to repay, and the price of bonds, and … and … and …

    So the privately-owned Federal Reserve is supposedly now “under” the US Treasury, and Blackrock will receive the trillions that would have gone to the Federal Reserve?

    And no government entity or private company got to bid on the trillions-sized contract? Blackrock automatically got it for some reason?

    A million seconds is 12 days.
    A billion seconds is 31 years.
    A trillion seconds is 31,688 years.

  12. Kim says:

    Against the general background of societal deterioration since the late 1960s, this is the fourth explicit step down on the road to utter immiseration and ultimately, die-off (2000, 9-11, 2009, the Flu Fear). There is no recovery from this. There will be more steps down.

    And there will be no answer to this at the ballot box or in competing ideologies. Ideologies are just waffle, lies, and eyewash for the rubes. From what I can see, from this point it is now every man/community for himself/itself.

    A man could maybe learn how to manage wild ponies (the Comanche did not have to shoe their horses, that’s an advantage over the White man’s horse ) so you could stay mobile, grazing, eating your horses up in old Comancheria, avoiding bandits, adopting a hunter gatherer existence on the wide plains. Who knows, you might look good in horse-skin chaps. But there is so much weaponry and so much ammunition available now. Enough for centuries to come. Is there anywhere left to run?

    The current Deagel http://www.deagel.com/country/forecast.aspx forecast for the United States in 2025 is a population of 99 million. That’s the biggest fall on his list. I wonder what he sees coming? And why does he think it will scarcely affect China?

    Of course, some of that US number could be the result of people returning to their homes in South America, but there is still plenty of room for die-off in that figure.

  13. Wally says:
    @cortesar

    said:
    “The orange clown came the other day and said that he did tremendous job and if it was not form millions would have died”

    – Except that according to ‘experts’ millions would have died, and Trump and the Republicans spent much less than the neo-Marxist ‘Democrats’ demanded.

    Once again, Trump was right and the media was wrong: https://www.americanthinker.com/blog/2020/03/once_again_trump_was_right_and_the_media_were_wrong.html

    Trump Approval Rating On Handling Of Coronavirus Skyrockets: https://www.dailywire.com/news/trump-approval-rating-on-handling-of-coronavirus-skyrockets

    • Troll: bluedog
  14. Kim says:

    Think about it, the USA with a population of just 99 million. That would take us back to 1914.

    https://www.multpl.com/united-states-population/table/by-year

    That would be great. Still much too high of course. Well above carrying capacity. And then there is the very important issue of the racial composition of the remaining population.

    This time everyone should make sure they pull their own ploughs and pick their own cotton.

    • Replies: @Yusef
  15. What was the health system in the smashed Weimar Republic like? As bad as the USA? What was the police system like? Okay, they bumped off Rosa Luxemberg, but many more? Equal to the killings by US police? How did they handle unemployment? Worse or better?

  16. $250 billion will go for the $1,200 checks that most of us will receive in a couple weeks…

    Not everyone, though. The upper cutoff is $75,000 (before taxes, of course). Soak the rich. However, you get $500 for each child. I don’t know if you have to be a citizen, though.

    Unemployed Somali resettled refugee single mother with 6 kids gets: $4,200.

    Oil fracker in South Dakota gets: 0$

    • Agree: Bubba
    • Thanks: Achmed E. Newman
    • Replies: @Hail
  17. This CARE Act (excuding the 500 B for actual humans) & the rest of the Co/bank giveaways are so wrong they are almost halucinatory.Yes, airlines, those directly affected by cv19 etc have a need, but to just hand over trillions to banks/Fed/Blackrock absent an obvious need is bizarre. Why is the Fed already buying up toxic shit (QE) from banks when the banks are yet to hit rough times ?

     “But, yes, I am suggesting that the US will have to repay its debts in a currency that has lost a significant amount of its value. You don’t have to be Einstein to figure out that you can’t willy-nilly print-up $10 or $20 trillion dollars without eroding the value of the currency. That’s a no-brainer. Central bankers around the world are now looking at their piles of USDs thinking, “Hmmm, maybe it’s time I traded some of these greenbacks in for a few yen, euros or even Swiss francs?””

    Mike is correct — how foreigners react to these trillions of new US $$ will be key. Lets remember that many countries already hold billions in $$ & treasuries. None of them want to see a run on the $, bc naturally they’ll lose out. Will there be run on the $ ? There’s a difference btwn selling $$ & slowing or ceasing purchases. (They’ll have to hold $$ for now anyway, to continue many purchases such as oil).
    Also, there’s a question of where & when these new $$ will show up, or even if they will show up. The $$ will show up in equities (whether that will keep them inflated is another question) & in bonds & 1001 financial shenanigans.
    Will foreigners keep their faith in US assets… can foreigners afford not to keep their faith …? More to the point, what’s the chances that their economies will be as bad as, if not worse than the US’s ? Can anyone see the EU actually out performing the US ? (They’ll have their begging bowls out to the Fed, as they did in the GFC.)
    Further, as to the US inflation question:
    “But once demand picks up and the Fed’s liquidity starts to kick in, the economy will rebound sharply followed by steadily rising prices. ”
    Why will the economy “rebound sharply” ? It didn’t in 2009-10 etc, yet this time, everyone agrees things will even worse. US consumer debt is not better, its worse. Many small/medium sized businesses will go under — that wont help demand. Unemployment is – will be much-much higher that 2009.
    I just can’t see where all this demand will come from. My bet is still on deflation ….

  18. Thomasina says:

    I think they wanted to ram this money through before people even had time to turn around. They used this opportunity to bail out a financial system they KNEW was on its last legs. Strike while the iron is hot, and then blame it on the “emergency”.

    “So here’s the question: Do you think Congress knew that working people would only get a pittance while the bulk of the dough would go to Wall Street?”

    Yes, they knew, and that’s the plan. If they give it to Becky and Joe to spend, it’s not going to go where they want it to go and it’s not going to get there fast enough. But if they give it to private equity funds, hedge funds, corporations, they can use this money to get underneath the asset bubbles and continue to prop them up. Giant bellows adding much-needed oxygen to the fire.

    “What do these people know that we don’t know? Doesn’t it all make you a bit suspicious? And when you see nonstop commercials on TV telling you to “wash your hands”or “keep your distance” or “stay inside” and, oh yeah, “We’re all in this together”, doesn’t it leave you scratching your head and wondering who the hell is orchestrating this virus-charade and what do they really have in mind for us unwashed masses??”

    Thank you for your skepticism, Mike. It’s so refreshing. We are definitely being fed a narrative. Something is up and, no, I don’t think it just came out of the blue.

    • Agree: Yusef
    • Replies: @James Scott
  19. The politicians don’t fear the tens- or even hundreds-of-thousands of deaths that might result from the globalism virus. What they do fear is BLAME, because that could jeopardize the one thing they truly care about – winning re-election.
    Thousands of people have died already, and thousands more shall die. For each death, there’ll be someone saying, “Damn those skinflint politicians! If they’d spent that extra trillion, my grandma would still be alive! I’m voting those cheap bastards out come November!”
    I myself have avoided infection so far, but this episode has already pretty much killed my love of America. Now is when America proves that we can’t in fact keep the Republic that the Founders created for us. When faced with a challenge, today’s Americans throw themselves on the ground and bawl for the Government to save them. So much for the nation of rugged individualists! I can’t love such a country.
    Washington is only too happy to print money and throw it at the problem. $2.2 trillion works out to about $7000 for every person breathing American air, but hey – some of us will get $1200 out of the deal. Considering that the vast majority of taxpayers are too stupid to understand that a big tax refund is not a windfall, I suppose getting $1200 for $7000 sounds like a great idea.
    Remember when President Trump wanted $5 billion for the border wall? Compared to the biggest boondoggle in the history of mankind, that’s a nickel against $22. Brother, can you spare a dime?

    • Replies: @Achmed E. Newman
  20. Franz says:

    We all know how the ball’s gonna drop.

    $1200.00 — First check. It’ll buy about what it buys now.

    $12,000.00 — Second check. Tighten that belt! Be worth about $50 in 1990s dollars.

    $1,200,000.00 — Third check. One loaf of bread or a tin of sardines… if you can find any of either.

    But I retain my innate, God-given and DNA fostered optimism!

  21. sally says:
    @nickels

    Cryptocurrency sounds better every minute. Clearly congress intended that no mom and pop survive the CARES ACT. Monopoly powered corporations are salivating over the assets they can take from the failing small businesses. and many corporate giants are after the business income traditionally the bread and butter of small business. Americans caught competing with CARES ACT beneficiaries will probably be arrested and put into a coronavirus infested jail to await a trial to happen just weeks after the arrested dies.

    Seems the USA has used the Covid 19 virus to declare war on America and to sanction Americans?

    • Replies: @Realist
  22. sally says:

    Trump has used Coronavirus to hoodwink and fleece the American People. The American people are now on the hook for 100% of all of the loans that go south, and there’s going to be alot of them because the banks have no reason to find creditworthy borrowers. They get a 5% cut off-the-top whether the loans blow up or not. And, that, my friend, is how you incentivize fraud which, as Bernie Sanders noted, “is Wall Street’s business model.”

    Explain why Trump has repeatedly rejected congressional oversight of the various bailout programs.
    https://www.unz.com/mwhitney/weimar-america-here-we-come-virus-hysteria-adds-10-trillion-to-the-national-debt/

    thanks for the great article.

    Now we know why Barney quit. If anybody votes for a Republican he or she is neither a normal day to day debt ridden citizen a small business person <= trying to survive in America. A Wall Street Dump is Trump.

    Certain PPP qualified small business folks have discovered CARES ACT gives banks non recourse forgivable loans to be used to lend to small businesses to cover the interest, rent, utilities and payroll cost of small businesses,== but one soon discovers these small businesses are not getting any money from the CARES recipient banks? What prevents the local CARES recipient banks from just keeping the smoke and mirrors CARES program loans made to Recipient banks by the government?

    Please show me where the law and the rules banks must follow say a CARES recipient bank must timely give make loans to local qualified PPP qualified borrowers, that is business borrowers who need help with rent, utilities, interest on loans, and payrolls? It seems under banks just keep all of the government money given to them to loan to PPP qualified borrowers, the bank makes 100% of the money, instead of 5% if they fund the PPP qualified applicants?

    Besides, the amounts the banks got were so small, in proportion to the need, that only a few of the small business needs are even possible to fund. Instead of writing a 400 page law, making everyone spend money and time figuring out what it says, and giving non recourse loans to banks,= the entire PPP part of the rape America CARES ACT could have been implemented through the IRS, Why? because the IRS knows how much each small business spends on interest, utilities, rent, and it could easily require its employers to submit payroll reports each period of time the small business funds its payroll on a periodic 941 form, and from that form and prior tax histories, the IRS could then cut net payroll government checks back to the individual employees listed on those forms, (employers are required to file anyway). and deliver those checks by mail directly to the employee or to the employer who can hand them out personally.
    Clearly the CARES ACT is a Trumpster SCAM

    Do you think Congress knew that working people would only get a pittance while the bulk of the dough would go to Wall Street? Yes, I told my congress people before the vote on the bill that if they voted for CARES, they could take me off their daily propaganda email lists. They are all in on it, maybe that is why BARNEY quit? The USA is a group of bandits who intend to use their governing powers to take from the American people the little bit of wealth each still has remaining.

    • Agree: bluedog
  23. GeeBee says:
    @Robert White

    ‘Medical Martial Law has been imposed worldwide because the Epidemiologists know this is a BSL-4 bioweapon.’

    That’s just about the only explanation I can think of for the unique situation in which the world finds itself. The global level of response to the pandemic outstrips any other in history by several orders of magnitude. World leaders must have been given some sort of briefing regarding the scale of the threat from this virus, in terms of its origins as a BSL-4 bioweapon.

    • Agree: Robert White
    • Replies: @RoatanBill
  24. Before I comment on a few details, let me say, Mr. Whitney, that this is a column good enough to have been written by Ron Paul, if you are one who seeks the truth in America’s financial stupidity. OK, more on that, but:

    And when you see nonstop commercials on TV telling you …

    Now, see, THERE’S the problem, Mike (though, I should add “messages to your smart phone”). I think the big divide, that cuts an unusual swath politically, separating the 2 sides regarding the Kung Flu itself, believing it’s either the next Bubonic Plague or an Infotainment Panic-Fest, goes along the line of who pays the most intention to that Idiot Plate and his 24/7 smart phone. I have seen this in my own family. The more you fixate on this media frenzy, the more you would have fallen in the former category.

    And, that, my friend, is how you incentivize fraud which, as Bernie Sanders noted, “is Wall Street’s business model.”

    Mr. Whitney, invoking Bernie, really? He wants student loans to be forgiven – same moral hazard, with the original problem caused by banks, again, having nothing to lose, but just a measly $1,400,000,000,000* on the line (1.4 Trillion), haha.

    However, these are quibbles in the big picture you give. Peak Stupidty has beat this topic up a number of times in posts with the Global Financial Stupidity topic key. To illustrate your point that even from our current $23,000,000,000,000 hole, the country can not be made whole. A simple mental calculation says, for, say 100,000,000 (actual, not just form-filling-in) tax-paying families, each would be on the hook for $230,000. That cannot be raised via tax increases. Contrary to the quick calculations of idiots on TV, with their “incredible way of putting it”, NO, all the rich people in the country COULD NOT give every American a million dollars!

    The extra 6-10 Trillion just brings this un-payable debt up another 25-45%. Who cares, right, except, as you write, the world is gonna get wise to this sooner rather than later.

    .

    * I like to write it out, so people might have a fighting chance of understanding the numbers.

  25. @Kim

    I’ve heard theories that the “Plains Indian” culture was actually a mishmosh of cultures and improvisations by the remnants of populations after diseases and general unrest had killed off 90% of the population. A sort of Mad Max on horseback if you will.

    And they could only keep going in some form because they had tons of buffalo.

    My point is, living like a Plains Indian or some kind of fringy-leather-clothed wanderer is hard. It’s hard on your own and it’s hard with a large group because while the group makes some things easier, you now have to feed a large group.

    That Deagal site is …. interesting. According to it, we’re going to lose 2/3 of our population by 5 years from now? I’m making serious plans to flat-out leave, but losing about 200 million people is … a lot of people.

    Let’s say 50 million immigrants go home. That’s still 150 million you have to kill off somehow. Boomers are dying off at a good rate and the younger people are not having kids like the boomers’ parents did, but that’s still a lot of people you have to get rid of somehow. What’s that site’s owner’s forecast? Civil war?

    • Replies: @Kim
    , @Drew
  26. @Meimou

    Thank you, Meimou. That was the correction I was about to make to Mr. White’s otherwise sound comment. I think Mr. Unz and others keep using the “hoaxer” term in the mistaken thought that there are lots of people who think there IS NO VIRUS. Show me someone who says that. The next level is “SAME AS THE FLU” Well, it is a type of flu, but most of us know it’s quite worse (to those affected who are old or in bad shape).

    Nope, Mr. Unz’s conspiracy theories of his own aside, we believe just what you link to. For those dense enough to have not gotten this yet: It’s not that the virus is a hoax, but the response to the virus is a hoax! Got it, yet… Mr. Unz? This goes for the huge media Infotainment Panic-Fest, which has been an OJ Simpson trial, 9/11, shark-attack-week, impeachment hearing, and SCROTUS-confirmation hearing all rolled up into one, with MONTHS of 24/7 viewing. It goes for the governments at all level that can shovel money to their banker friends (at the Fed level) and implement “procedures”, such as “shelter-in-place and “lockdowns” (a term used only in maximum-security prisons till 10 years back!)” to inure Americans to an even bigger Police State.

    I ask Mr. Unz, with all his American Pravda writings, of which I only partly agree with oftentimes, but greatly respect regarding his questioning of the narratives of the media: Is this not the same situation, but just more blatantly right in front of our eyes? Why do you believe the Lyin’ Press on this one issue, when you question almost everything they’ve told us for 50-100 years? Is it because there are experts on TV? You know that they can pick one “expert” over another, especially when the theory of this contagion is not nailed down, don’t you? Neither you nor I are experts, as we’ve both admitted. With conflicting info from experts in various media, my way is to use my perspective.

    My perspective says this would be like a quicker-spreading SARS deal from a couple of decades ago, with a big bump in deaths for a few months but no reason to shut down the economy and cause a depression. (I know, I know, per all of us here likely, it was gonna happen sometime, but using the Kung Flu as the impetus, the huge government financial reaction that Mike describes can be justified based on “the sky is falling! Do something NOW!”)

    • Replies: @jkb
  27. PeterMX says:
    @Anonymous

    Peter Schiff has been saying this before 2008 already but because the US got away with printing up trillions of dollars in 2008-9 and now under Trump the stock market has taken off like it’s the 1950’s again, the greatest economic decade ever for the US, many people believe all the US has to do is print up trillions of dollars when it’s low on cash. But the US economy is only great in terms of economic data, not in reality. As Trump himself said during the 2016 campaign, the unemployment numbers are a farce. Tens of millions more people are unemployed than reported because after 9 months of unemployment you lose benefits and are considered no longer unemployed, you just stopped looking. The US is no longer a manufacturing country and the stock market figures represent a bubble waiting to burst. But the fact the inevitable collapse is approaching is not convincing because this has gone on for so long and they think they can do it again which only means the fall will be that much harder. That is Schiff’s claim and I thnk he’s right.

    https://www.youtube.com/user/SchiffReport/videos

    • Agree: Mark G.
    • Replies: @Realist
  28. I hasten to add something here, Mr. Whitney, on this superb article:

    Your thoughts on the coming loss of Reserve Status for the American Dollar, which will be much sooner with the psychological factor of the world seeing the Feral Gov’t and FED conjuring up $10,000,000,000,00, are very important. I also agree completely with your assessment of the coming inflationary times (maybe after that lull that you describe).

    Prep up, people. We thought we had a few more years, but this Kung Flu Panic-Fest season has shortened the time-line. In Great Depression 1.0, at least 1/3 of Americans lived on the farm, and most American men could do stuff with their hands. Are we ready?

    There are big changes coming to American society*, not all of them bad in the long run, depending on how bad we let the Feral Government screw us this time. With an FDR-2.0, we will be truly f____d.

    .

    * My silver lining in this is the homeschooling trend that may grow quckly (no, not exponentially!), as parent wonder what all was that school good for anyway – See “School’s Out For Ever!” and “Arts & Crafts.”

    • Replies: @Hapalong Cassidy
    , @Kim
  29. @Robert White

    Marc Carney signaled & telegraphed the UN Climate Change Green Finance revolution with his new placement at UN Bank …

    I’m sure you mean Mark Carney, right? Former head of the Bank of England? Would you care to elaborate on what you posted here? I can’t find anything about it on the web and I have never heard of a ‘UN Bank’.

    • Replies: @Robert White
  30. @obwandiyag

    The “debt” does not matter.

    Oh, it’ll matter when foreign investors start dropping the dollar. Then we’ll have hyperinflation.

  31. @WhatAboutTheFix

    Reminds of something I once heard a former CEO of Coca-Cola say:

    “A billion hours ago human life appeared on earth. A billion minutes ago, Christianity emerged. A billion seconds ago, the Beatles changed music forever. A billion Coca-Colas ago was yesterday morning.”

    Kinda puts it all into perspective, doesn’t it!

  32. Miro23 says:

    But of course they will act in character and hundreds of billions of dollars will be siphoned off by scheming sharpies who figure out how game the system and turn the whole fiasco into another Wall Street looting operation. You can bet on it.

    First move was to dump their overpriced stock just prior to CP (Coronavirus Panic). Next move was to buy on the trillion $ bailout news (CP bottom) – and now they kill all the remaining bears by using the free money to drive the S&P to a new record high.

    Think that that can’t happen? Wait and see. The real economy has nothing to do with it.

    Also, I love these names: The CARES Act – suggesting that they care, and the PATRIOT Act – suggesting that they are patriots.

    So, how does this end? It ends in a flash of monetary debasement preceded by a violent and destabilizing currency crisis.

    And that can also be highly profitable. In Weimar (prior to the hyperinflation) the insider money took out massive D Mark loans to buy hard currencies and city centre property, which they then paid back in what was referred to at the time as “confetti money” ( i.e. they legally got real assets paid for with worthless money – a cabbage that had previously cost 25 pfennigs now sold for 50.000.000 D. Marks 1923).

    As the British historian Arthur Bryant recounted in his book “Unfinished Victory” (1940);

    ” They merely did what others in their place would have done. And since the sun does not shine often on their race, they made hay as fast as they could. They did so with such effect that, even in November 1938, after five years of anti-Semitic legislation and persecution, they still owned, according to The Times correspondent in Berlin, something like a third of the real property in the Reich. Most of it came into their hands during the Inflation.”

    Following this template, the current $ trillion loans will purchase prime US property, hard currencies, gold etc. prior to the US hyperinflation – in other words, they gain legal title while never actually paying for any of it.

    How did we know there was going to be a hyperinflation?

    • Replies: @antibeast
  33. @Achmed E. Newman

    “My silver lining in this is the homeschooling trend that may grow quckly (no, not exponentially!), as parent wonder what all was that school good for anyway“

    Normal school hours for my kid were 9 to 3:30 M-F. Since our school district switched over to remote learning a month ago, my kid gets all of the day’s schoolwork done between 9 am and noon. And in four days per week instead of five. So what the hell were they normally doing in that extra time? Obviously, the big takeaway is we are seriously considering home schooling next year.

  34. Kim says:
    @Achmed E. Newman

    Are we ready? Hahahahahaha!

    What will people who need school lunches to feed their children do in this new dollar-less world?

    If someone’s life experience has been as a “blogger”, what value will his life have now that the age of idleness has passed? Or what value has his Star Wars figurine collection?

    If petrol is $10 or $15 or $50 a gallon, will food be brought to the cities?

    And who will protect the food trucks? I ask because, you know, I am not a wild animal, I am not normally a criminal, but still, I will hijack a food truck. And I will have a gang. And I will sh00t dead anyone who tries to stop me getting at that food for my family. Now multiply that by ten or one hundred well-armed millions.

    I am pretty sure that we are not ready.

    • Replies: @Achmed E. Newman
  35. Herald says:
    @Meimou

    I think it is a fairly safe bet, that the COVID-19 pandemic is the result of a deliberately released viral bioweapon. Too many things coming together and also obvious foreknowledge in the medical mafia. As to who did it, look at past form and cui bono. On that basis China is no where near the top of the list of suspects.

    • Replies: @Miro23
  36. @FB

    No doubt that debt incurred for spending on infrastructure can be claimed to be good debt. I wonder how much of this latest round of debt creation will be spent in a similar manner?

  37. Kim says:
    @alex in San Jose AKA Digital Detroit

    Yes all of the Plains Indians are interesting but the Comanches especially. Cruel and bloodthirsty monsters but so committed to freedom…I could never survive in that world. That requires generations of cultural knowledge.

    As to them being a mish-mash, that is surely true genetically. Because of constant warfare and a sometimes low calorie diet, they found it hard to maintain numbers naturally. That is why all of the Indian bands practised kidnapping, for purposes of slavery or to raise captives as members of the band.

    I can recommend two books that are very good reading on the American Indians:

    Empire of the Summer Moon by S.C.Gwynne (about the Comanches)

    Thundersticks: Firearms and the Violent Tranformation of Native America by David J. Silverman (A history of how Indians got guns and how they used them from early contact until the late 19th C.)

    These books can be found online.

    And yes, Deagel is weird. I don’t know what to make of it.

    • Replies: @Achmed E. Newman
  38. @Macumazahn

    Great comment, Mac. Thank you.

  39. Thomasina says:

    “Maybe you’ve noticed the reemergence of creepy Bill Gates and the Vaccine Gestapo or NWO Henry Kissinger warning us that, ‘the world will never be the same after the coronavirus’.”

    Found an interesting article from 2014 by James Petras that states the Gates Foundation is the third largest donor to WHO (World Health Organization). The WHO has been strongly criticized of late for dropping the ball re the corona virus. The article also states:

    “Emulating his own strategies for cornering the software market, Gates has created a virtual monopoly in the field of public health. In the words of one NGO official, ‘[y]ou can’t cough, scratch your head or sneeze in health without coming to the Gates Foundation.’”

    His foundation is using the Third World population for pharmaceutical testing. There aren’t the lawsuits in these countries when things go wrong, and by the looks of it, they have!

    https://www.rupe-india.org/57/foundation.html

    https://www.rupe-india.org/57/pharma.html

    Do you think this worldwide shutdown has something to do with a vaccine? Can you think of a better weapon than a virus?

  40. Biff says:
    @FB

    “These huge projects built modern America as we know it…and it was paid for by the Reconstruction Finance Corporation, designed to bypass the criminal banking system…”

    The Similar thing Hugo Chavez attempted in Venezuela, and he was poisoned for his efforts.

    • Replies: @Mefobills
  41. You are correct about the financial state of our nation.
    The problem is true Barry Goldwater conservatism died years ago, so here we are.
    I had to just stop caring. I support Trump, because he triggers the crybaby herd. It makes for some fun while America spends itself poor.
    When the inevitable financial crash comes, I have a garden, gun, grill and stored goodies. And that’s just the letter “G”!
    I’ll go down fighting, well fed and ready for this to all be over. Nobody leaves this pathetic rock alive anyway. And oh, Happy easter!

  42. @GeeBee

    Given that the political class is comprised of opportunists and frauds, a better explanation for what may appear as a conspiracy is – monkey see monkey do.

    One fool does something and it becomes THE thing to do by anyone watching. No conspiracy required.

  43. “Other countries responded quickly and aggressively to combat the spread of coronavirus.

    Trump failed to do the same—and now the U.S. has the most cases in the world.”

  44. Probably not Weimer? But inflation in the pipeline?

    ” . . . Deposits at the US commercial banking system increased in the week to 25th March by 2.6%, from $13,797.5b. to $14,150.3b., according to a Federal Reserve press release. In the fortnight to 25th March they climbed by 4.8%, or at annualised rate of almost 240%. As these deposits are the principal element in the quantity of money, broadly-defined, it is clear that March and April will see extraordinarily high growth rates of money. If deposits are on average in April $200b. higher than at the end of March (which seems cautious, in view of current policy-making), the growth of deposits between March and April will be 4.5%, and the growth of M3 broad money will be similar. The annual growth rate of deposits/broad money in the year to April will then reach 13% – 14%, already ahead of the 10% – 12½% range suggested in the Institute’s original March 2020 note. The annual rate of broad money growth could continue to accelerate in summer and autumn 2020, to move into the 15% – 20% band. US money growth in 2020 may be the highest ever in peacetime.

    Variations in the ratio of money to nominal GDP (or “velocity”) do occur, but large variations are unusual. In the medium term they are ironed out as the underlying stability of agents’ money holding behaviour takes over. It follows that – at some point in the next two/three years – the growth rate of US nominal GDP will accelerate towards a figure in the teens per cent. Given that the trend growth rate of real output is not much more than 3% a year, a big resurgence in inflation is implied by our analysis. The only way to prevent this is for the Fed not just to end its current stance as ready financier of the government deficit, but to withdraw the money stimulus (i.e., to cause the quantity of money to fall by the “excess over normal growth” now being recorded.). In a Presidential election year, that seems very unlikely.”
    https://mcusercontent.com/78302034f23041fbbcab0ac6d/files/d9dee8cc-40e5-4056-8730-238382f4b387/iimr.special_e_mail_2004_US_money_growth.pdf

    • Replies: @Mefobills
  45. @Robert White

    “No, the coronavirus wasn’t made in a lab. A genetic analysis shows it’s from nature
    Scientists took conspiracy theories about SARS-CoV-2’s origins seriously, and debunked them “
    https://www.sciencenews.org/article/coronavirus-covid-19-not-human-made-lab-genetic-analysis-nature

    • Replies: @ThreeCranes
  46. Realist says:
    @sally

    Cryptocurrency sounds better every minute.

    Cryptocurrency is a ponzi scheme…it is worse than fiat money. Gold is the answer, it can’t be traced and will never go to zero value.

    • Replies: @Anonymous
  47. Miro23 says:
    @Herald

    I think it is a fairly safe bet, that the COVID-19 pandemic is the result of a deliberately released viral bioweapon. Too many things coming together and also obvious foreknowledge in the medical mafia. As to who did it, look at past form and cui bono. On that basis China is no where near the top of the list of suspects.

    One suspicious aspect is the MSM reaction.

    When there’s a fabricated “event” they immediately come on in a orchestrated way (at full volume) with a readymade story (no investigation necessary). On 9/11 is was Arab terrorists and Osama Bin Laden, and now it’s the deadly virus and the Wuhan animal market.

    After 9/11 the US was rushed into Middle East wars, and now the US is being rushed into awarding them $ trillion loans to buy up real US assets prior to the Great Inflation.

    • Agree: Herald, Digital Samizdat
  48. Paulbe says:
    @Robert White

    It seemed to me that the Chinese response went to Military-level almost immediately, like they already knew it was an attack.

    • Replies: @Robert White
  49. Frankie P says:
    @Anonymous

    The gold spot price is around US$1,700 per ounce today. If you want to buy a one-ounce coin of physical gold, let’s say an American Eagle, the price is around US$1,850. That’s quite a premium. In addition, the online sellers are saying that volume is so high you can expect to wait 5 business days for delivery.

    • Replies: @Anonymous
    , @Aardvark
  50. Realist says:
    @PeterMX

    The advice of Peter Schiff should have been heeded years ago.

    • Agree: PeterMX
  51. Any of you libertarians out there still believe that this was all caused by the Community Reinvestment Act of 1977? Twelve years ago, whenever I tried to point out Wall Street’s role in the economic meltdown, Republicucks and libertarians were constantly throwing the CRA in my face. So what’s their excuse now?

    The Fed is turning itself into a hedge fund in order to buy the sludge that has accumulated on the balance sheets of corporations and financial institutions for the last decade.

    The Fed is now a hedge fund? We should rename it the Fedge!

  52. Frankie P says:
    @FB

    Yes! If Trump wants to create more money for domestic infrastructure, he must set up a modern day government run Reconstruction Finance Corporation, entirely independent of the FED and the Treasury department, the newly melded two-headed usury dragon.

    • Agree: Mefobills
  53. Realist says:
    @Anonymous

    Gold mining shares

    Gold mining shares (like all stock) are fraught with many needless perils…Gold is the only way to go.

    It can’t be traced and will never go to zero value.

  54. Greg Bacon says: • Website

    On 9/11, we saw the controlled demolition of WTC 1,2 & 7, which the Deep State used to pump Americans full of fear and hate of all things Muslim and off we went on a murderous killing spree.

    Now we’re seeing the controlled demolition of the US economy, hidden behind Covid hysteria designed to make people so scared, they won’t wonder or ask why we’re bailing out those same TBTF banks that we gave trillions to in 2009.
    Nor will we ask why is the FED buying up so many underwater auto, mortgage, credit card, student loans and putting them on a balance sheet that eventually will find its way to the National Debt.

    And neither will people ask why is the FED buying all those junk bonds, which are, well JUNK.

    Just like the aftermath of the Deep State attacking the USA on 9/11, we’ll be too scared to ask what is really going on?

    • Agree: anon8383892
    • Replies: @anon8383892
  55. If America is to become Weimar as you suggest then the WWIII can’t be far behind …

  56. Dr. X says:
    @Jefferson Temple

    For the record one Congressman did put up a fight. He is Kentucky Representative Thomas Massie.

    Yeah, and the Jews are already trying to take him out because of it:

    https://www.jpost.com/american-politics/republican-jewish-coalition-targets-gop-congressman-in-primary-623122

  57. eah says:

    At what point can one say Americans are debt slaves to the state?

    Previously, it was estimated that in FY 2025 interest on the federal debt would surpass defense spending to become the 2nd largest budget item (link) — the coronavirus “stimulus” may have brought that forward by a fiscal year (or more) — in fact, they may soon be estimating when interest will overtake “mandatory entitlement spending” (SS, Medicare, etc) as the largest budget item.

    Of course there’s nothing “mandatory” about any “entitlement” spending — e.g. courts have ruled no one is ‘entitled’ to SS benefits, no matter how much SS tax was paid — because that’s all SS is: a tax — also spending on Medicare is a matter of law, and the law can be changed at any time.

    The dishonesty is really spectacular (link):

    Though U.S. government debt is perhaps the most widely held class of security in the world, 26.5% of the debt (about $5.83 trillion) is owed to another arm of the federal government itself as of the end of June. The single biggest creditor, in fact, is Social Security: The program’s retirement and disability trust funds together held more than $2.9 trillion in special non-traded Treasury securities, or 13.3% of the total debt. (Social Security revenues exceeded benefit payments for many years; the surplus was required by law to be invested in Treasuries.) Another big holder is the Federal Reserve system, which as of mid-July collectively held nearly $2.1 trillion worth of Treasuries, or 9.5% of the total debt. (The Fed’s holdings are included in the “debt held by public” category.)

    SS has been cash flow negative for a decade now — the “trust fund” is an accounting fraud: its only “assets” are bonds issued by the UST, which means ALL SS payments are 100% funded by current tax revenue.

    The Federal Reserve owns UST debt it bought with money it created out of thin air, yet it still represents a legal/contractual claim on the wages and real world wealth creation activity of Americans.

    Continuing to pile up this mountain of unpayable inter-generational debt is profoundly immoral.

  58. @Hapalong Cassidy

    So what the hell were they normally doing in that extra time?

    Art & Crafts, Mr. Cassidy, Arts & Crafts. Doesn’t anyone read my links?? ;-}

    As I wrote in that Peak Stupidity post, when my kid was spending about 2 hours cutting, coloring and glueing some stuff that had to do with 10 minutes of looking up the state flower, motto, and dog of Arizona, I asked him “Hey, is that what they are doing? This is pre-school stuff. Do you spend 1/2 the day on these Arts & Crafts?” “Nah, about a quarter.” (Did I mention I was teaching him fractions and estimation?)

  59. @Kim

    Kim, and I hope you weren’t referring to me as that “blogger”. I have a real job, and because my family has been frugal, by “we”, really, I mean anybody else. No, they are not ready.

    Your prepping plan, though, doesn’t sound too well thought-out. After the food trucks quit running, because they are being hijacked, what’s plan B, my man?

    • Replies: @Kim
  60. @Kim

    Empire of the Summer Moon was a FANTASTIC book, Kim.

    I read it and found it has so much to teach about the freedom of a savage vs. life in civilization that I ended up with a 3-part review: Part 1, Part 2, and Part 3.

    • Replies: @Stonehands
    , @Stonehands
  61. What exactly are they trading or collateralizing for all those paper dollars? Is Corporate America going to join the rest of us in the bread lines?

  62. antibeast says:
    @Miro23

    Following this template, the current $ trillion loans will purchase prime US property, hard currencies, gold etc. prior to the US hyperinflation – in other words, they gain legal title while never actually paying for any of it.

    The Trump Administration is conniving with the Fed to saddle the US Government with trillions of dollars of new debts payable to Wall Street sharks who will use the Fed-supplied “helicopter money” as their vulture capital funds to buy out corporations and businesses using debt-to-equity swaps. After gaining control of those distressed firms, these Wall Street sharks will then asset-strip those corporations and businesses and then declare bankruptcies to avoid paying back those buyout loans guaranteed by the US Government. This is Trump’s version of the Leveraged Buyout (LBO) craze in Wall Street during the 80s. This time is different because it’s the US Government who will be assuming the credit risks while the Fed prints — a la Ben Bernanke — trillions of “helicopter money” to be loaned to Wall Street sharks as their vulture capital funds.

    As Gordon Gekko says in the Hollywood movie Wall Street: “Greed is Good!”

  63. This has been the zionist plan all along and they have used the coronavirus scamdemic to bring it about, that and their privately owned FED, which has been counterfeiting since 1913, and now behold the zionist NWO and they did not have to build prisons, the sheep remain in their corrals aka houses, Orwell is spinning in his grave.

  64. @FB

    A great documentary on the heroes who built the Grand Coulee Dam, the largest man-made structure in the world at that time. No diversity, no OSHA, just strong, agile, skilled men who knew they were making history and were proud of it. Just look at the danger these guys exposed themselves to on a daily basis. Rappelling down cliffs, riding the crane up hundreds of feet etc. They accepted that as part of the job and like men everywhere and at all times, took the risks because that’s what brave men do and if a man isn’t brave, then he isn’t a man.

  65. @james charles

    And you believe them?

    Of course it was made in a lab. It’s a freak. I don’t believe that it was released deliberately. It’s just the usual f*ck ups. Nothing is perfect. Containment is impossible. Everything is flawed. There will always be leaks. They just can’t bear the thought of our seeing them for the typical f*ck ups they are. Only white, beer-guzzling, working schmoes and West Virginia opioid abusers are supposed to be f*ck ups. It hurts their pride to realize that they belong to this crowd as well. We all do.

    • Replies: @james charles
  66. Bro43rd says:
    @FB

    Whitney is spot on! Once again the collectivists get it all wrong. The US economy didn’t rebound until after the war ended around 46. Unless severe rationing can be considered good for folks. Rothbard explains it all in plain talk that even a good little statist can comprehend is his book “America’s Great Depression”.

    • Replies: @Kim
  67. Truth says:

    I’ts gon’ get ugly tomorrow morning, Bra-a-a-a-a!

    • Replies: @Kim
  68. No, I am not suggesting the US would ever default on its debt, that’s not going to happen.

    Yes, this time is different. Isn’t this what they said in Weimar?

  69. Agent76 says:

    The Global Debt Clock

    Our interactive overview of government debt across the planet. The clock is ticking. Every second, it seems, someone in the world takes on more debt.

    http://www.economist.com/content/global_debt_clock

    May 11, 2011 Debt Crisis was Created by Politicians and Central Bankers

    • Speaker: Godfrey Bloom MEP, UKIP (Yorkshire & North Lincolnshire), Europe of Freedom and Democracy (EFD) group.

  70. Economic hitman Michael Hudson just wrote that anyone who yells “Weimar” or “Zimbabwe” is defending the ruling class and is lying about the economy. Whitney’s “analysis” is an overdrawn checking account surrounded by scheming personalities who are ‘going to Weimar. ‘

    The rich don’t care if the entire economy crashes or who gets hurt. They take crashes as times to get more wealthy, buying real assets for pennies on the collapsing dollar. Meanwhile they control all of the media.

    • Replies: @Kim
    , @Mefobills
  71. Agent76 says:

    Mar 20, 2017 US Debt of $20 Trillion Visualized in Stacks of Physical Cash

    The faith and value of the US Dollar rests on the Government’s ability to repay its debt. “The money in the video has already been spent”

  72. Kim says:
    @Truth

    That is huge news.

    • Replies: @Truth
  73. Kim says:
    @Bro43rd

    The world economy rebounded post WW2 when the 1938 Saudi Arabian oil discoveries were brought on line. Dammam oil well Number 7.

    Forget about FDR and WW2 pump priming and all of that Broken Window Fallacy bullshit.

    Spectacular exponential growth depends on having cheap abundant oil. The cheap oil is now gone. It won’t be coming back. So neither will the growth.

    It really isn’t very hard to understand. But it can be hard to accept.

    • Agree: james charles
  74. @Kim

    I think there are still a lot of place to run to and get lost. The majority today are city dwellers who will be terrified to leave their urban settings for a life in the wild. I am always amused when urban folks say they are going camping and leave for the campsite in a fully stocked and equipped travel trailer. Soon after arrival at the “campsite” which is supplied with water, electricity, internet, TV hook up, convenience store and all those primitive conveniences, their kids freak out over some ants and other bugs and the whole caboodle pack up and return to the big city. The trailer is parked forever in the driveway. Camping is no longer cool. We have kids who believe meat patties and french fries come from the supermarket and who have never seen a cow. No lie ! And the lot of them cannot walk up a flight of stairs with a bag of potato chips without gasping for breath. These urban people will stay where they are !

    I admonish my sons to get a chunk of land in a remote area of their choosing where they can be SELF SUFFICIENT. I also advise them not to put (tie up) their money into a house ! One can scoot from a rental apartment without a second thought but sticking around because of equity in a house might cost you your life .

    These days we are dependent on some corporation for salary with which to buy from another corporation owned by the first corporation the following: Clothes, food, shelter, electricity, gas and a host of other things now essential for our very survival in an urban environment. What I ask, will happen when the urban masses are unable to get food ? Especially if those masses are black and or moslem ? These people are not going to sit back and be as compliant as whites. The Police in France had a taste of what it is like trying to control 5 million enraged moslems with nothing to lose !

    Too much dependency on our part and thus too much control over us on their part. That kind of control has lead us to this point where we hide under our beds, wondering if we will have that JOB tomorrow, wondering if our next place of abode will be skid row. We now have to line up with the proper social distancing to enter the supermarket, reminds me of the Third World.

    This Corona shutdown is just the beginning. Now that the powers that be see they can easily terrify the herd, anything is now possible in the future. A clever man needs to be looking ahead and anticipating.

    Having a secluded place to run to is wise insurance !

    • Agree: Meimou
    • Replies: @Mefobills
  75. Mefobills says:

    Quotes from article:

    Fundamentally, evidence points to a period of deflation due to this global shutdown and demand destruction shock, likely followed in the coming years by rising inflation….

    Demand side is the money that demands goods and services. Demand side, or money is being destroyed as it returns to the ledger in payment of debts. Debt instruments are still making their demand to recall bank credit, to then be destroyed. Hence the real economy will be in a balance sheet recession – (if bad enough it is a depression.)

    The other side of economy is production of goods and services. Goods and Services collapse also happens in a depression, as 1) there is no money to pay for production and 2) Labor and industry exit production and flee to safety. Fleeing to safety is “hoarding” your savings and not spending, which accelerates the balance sheet recession with no new private loans.

    You cannot push on a string. People don’t take out new loans. New money and new debts are not available to pay down old debts.

    The ONLY WAY OUT of debt monkeyshine conundrum in a debt based money system is to exogenously inject purchasing power into the base of the economy. In that way, labor and producers can pay off their debts and still have purchasing power for things they need to have life. They can buy and sell from each other.

    The only thing Congress Critters did right, was measly one time stimulus checks, which in turn will be rapidly swallowed up into balance sheets.

    Congress “critters” are craven because they are paid off stooges of their masters, and their masters were and are being serviced.

    In coming years, the United States will be effectively printing money to fund large fiscal deficits, while also having a large current account deficit and negative net international investment position. This is one of the main variables for my view that the dollar will likely decrease in value relative to a basket of foreign currencies in the coming years

    Fiscal Deficit is the difference between government spending and tax uptake. Government funds the difference in uptake usually with increases in public debt (deficit spending). In a balance sheet recession, the government has to inject purchasing power into the base of the population. That or balance sheets in the producing sectors of the economy could be corrected by nationalizing the banks, and then doing an audit to erase bad debts.

    Unfortunately, (((neo-liberal))) economics has a hammer lock on the brain-space of economists and congress critters, so there is no way they can entertain real solutions… it is off their cognitive map. Thanks Jews! Your propaganda has yielded results.

    The other way to erase debt is bankruptcy. Hedge Funds and Big Corporations can be wiped out, and then restructured. The top of the pyramid is wiped out/erased. This keeps the buildings and real things that matter (the people, patents, know-how) intact, while wiping out the “excrescence” of finance capital making usurious demands. The company becomes owned more by the workers and less by finance capitalists.

    U.S. current account deficit can might be kicked down the road as the Euro crumbles. Current account deficit is the difference between exports and imports. If you import more goods than you export, then you have to export money instead. The “extra” money comes from increased public debt… because we have a debt money system.

    Italexit will likely be first country to go, then starting a stampede. Euro’s might flee to safety to U.S. dollar for a time delaying the current account deficit problem.

    We need an emergency Bretton Woods to fix things. The “B” team of Kudlow- like Lolbertarians and neo-liberal economists have to be put on the back bench, as they don’t have what it takes. Not only do they not have what it takes, they are actually harmful.

    So, basically we are surrounded by craven know-nothings, and the few people who have solutions will not be listened to. Then the military which has a big hammer will go around looking for a nail. Critters and MIC stooges might be willing to pull the military trigger as a diversion.

    • Agree: dogbumbreath
  76. Greg Bacon says: • Website

    “Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.”

    Norm Franz, “Money and Wealth in the New Millenium”

  77. Kim says:
    @Wuhan Sally Mai

    Michael Hudson is a bloviating retard and media whore.

    The idea that “the rich will be fine if the economy collapses” presumes that their financial instruments and assets retain their value.

    But it will be hard for them to buy all of those cheap assets “at pennies on the dollar” if the dollar is worthless.

    Hudson, being an unimaginative dodo, has no conception of what is implied by the concept of a “Crash”. It doesn’t mean “stock market decline”, it means “complete breakdown and remaking of the means of production, distribution, and exchange”.

    No doubt the rich are going to try to manage this, as it is unavoidable, but I doubt that they are looking forward to it.

    • Replies: @Digital Samizdat
  78. anon[148] • Disclaimer says:
    @Kim

    It says right at the bottom of your link that, quote:

    [MORE]

    There have been many questions about the countries forecast specially the one focusing on the United States of America (USA). They won’t be answered one by one but below you can find some explanation, thoughts and reflections. We are going to keep this as short as possible.

    The majority of the economic and demographic data used in the making of the forecasts is widely available by institutions such as the CIA, IMF, UN, USG, etc. You can see the most relevant data at every single country’s page. There is a tiny part of data coming from a variety of shadow sources such as Internet gurus, unsigned reports and others. But all these sources are from the internet and are of public domain for at least a minority. For example, several years ago Dagong, the Chinese ratings agency, published a report analyzing the physical economy of the States comparing it with those of China, Germany and Japan. The conclusion was that the US GDP was something between $5 to $10 trillion instead of $15 trillion as officially reported by the USG. We assume that the official data, especially economic, released by governments is fake, cooked or distorted in some degree. Historically it is well known that the former Soviet Union was making up fake statistics years before its collapse. Western as well as other countries are making up their numbers today to conceal their real state of affairs. We are sure that many people out there can find government statistics in their own countries that by their own personal experience are hard to believe or are so optimistic that may belong to a different country.

    Despite the numeric data “quantity” there is a “quality” model which has not a direct translation into numeric data. The 2014 strain of Ebola has a death rate of 50-60% but try to imagine what would happen if there is a pandemic of Ebola with hundreds of thousands or millions infected with the virus. So far the few cases of Ebola-infected people have “enjoyed” intensive healthcare with anti-viral and breathing assistance but above all with abundant human support by Physicians and nurses. In a pandemic scenario that kind of healthcare won’t be available for the overwhelming number of infected leading to a dramatic increase of the death rate due to the lack of proper healthcare. The “quality” factor is that the death rate could increase to 80-90% in a pandemic scenario from the stated 50-60% rate. The figure itself is not important what is relevant is the fact that the scenario can evolve beyond the initial conditions from a 50% death toll to more than 90%. By the way, no pandemic or nuclear war is included in the forecast.

    The key element to understand the process that the USA will enter in the upcoming decade is migration. In the past, specially in the 20th century, the key factor that allowed the USA to rise to its colossus status was immigration with the benefits of a demographic expansion supporting the credit expansion and the brain drain from the rest of the world benefiting the States. The collapse of the Western financial system will wipe out the standard of living of its population while ending ponzi schemes such as the stock exchange and the pension funds. The population will be hit so badly by a full array of bubbles and ponzi schemes that the migration engine will start to work in reverse accelerating itself due to ripple effects thus leading to the demise of the States. This unseen situation for the States will develop itself in a cascade pattern with unprecedented and devastating effects for the economy. Jobs offshoring will surely end with many American Corporations relocating overseas thus becoming foreign Corporations!!!! We see a significant part of the American population migrating to Latin America and Asia while migration to Europe – suffering a similar illness – won’t be relevant. Nevertheless the death toll will be horrible. Take into account that the Soviet Union’s population was poorer than the Americans nowadays or even then. The ex-Soviets suffered during the following struggle in the 1990s with a significant death toll and the loss of national pride. Might we say “Twice the pride, double the fall”? Nope. The American standard of living is one of the highest, far more than double of the Soviets while having added a services economy that will be gone along with the financial system. When pensioners see their retirement disappear in front of their eyes and there are no servicing jobs you can imagine what is going to happen next. At least younger people can migrate. Never in human history were so many elders among the population. In past centuries people were lucky to get to their 30s or 40s. The American downfall is set to be far worse than the Soviet Union’s one. A confluence of crisis with a devastating result.

    The Demographic crisis in the former Soviet Union countries has extended for over two decades, if we accept that it ended early in this decade (2010s). The demographic crisis will hit the World in the near future and is projected to last between three and eight decades more or less depending on technological breakthrough and environmental issues. The aftermath is more likely a frozen picture with the population numbers staying the same for a very, very long period of time. The countries forecast population numbers do reflect birth/deaths but also migratory movements. Many countries are going to increase their gross population due to immigration while their native population may shrink.

    Over the past two thousand years we have witnessed the Western civilization built around the Mediterranean Sea shifting to Northern Europe and then by the mid 20th century shifting to an Atlantic axis to finally get centered into the States in the past 30 years. The next move will see the civilization being centered in Asia with Russia and China on top. Historically a change in the economic paradigm has resulted in a death toll that is rarely highlighted by mainstream historians. When the transition from rural areas to large cities happened in Europe many people unable to accept the new paradigm killed themselves. They killed themselves by a psychological factor. This is not mainstream but it is true. A new crisis joins old, well known patterns with new ones.

    Sorry to disappoint many of you with our forecast. It is getting worse and worse every year since the beginning of the pre-crisis in 2007. It is already said that this website is non-profit, built on spare time and we provide our information and services AS IS without further explanations and/or guarantees. We are not linked to any government in any way, shape or form. We are not a death or satanic cult or arms dealers as some BS is floating around the internet on this topic. Take into account that the forecast is nothing more than a model whether flawed or correct. It is not God’s word or a magic device that allows to foresee the future.

    Sunday, October 26th, 2014

    end quote [emphasis mine]

  79. jsinton says:

    Welcome to the Greatest Depression. Never before in the history of the world did All sectors of the World economy fall to 0% at the same time. This is not Dot Com bubble or the housing bubble. This is not WW I or WW II. This is the Greatest Depression of all time, and it’s just getting started. People are still eating food that was on the shelf for years. That will soon run out. The economy won’t come back, at least any time soon, and not without major upheaval. Save the last round for yourself.

  80. Mefobills says:

    The Fed knows that when a nation’s sovereign debt exceeds 100% of GDP, “there’s almost no mathematical way to service that debt in real terms.”

    Japan has put that myth to bed.

    If you have public debts and said debts are sequestered to your central bank, or a proxy, then it is contained. Japan public debts are owned by Japan’s postal bank. Millions of Japanese housewives are share owners in the postal bank, and they are paid interest on their holdings. In effect, the money fluxes outward into the economy to pay the national debt, as Japan owes the money to itself.

    The 100% of GDP myth comes about when other countries hold your debt and then make demands in goods and services.

    In the U.S., the debt is rapidly being consolidated onto the FED’s balance sheet. The FED in turn rebates interest uptake to Treasury.

    Once the debt is sequestered, then it can be erased or no longer serviced.

    WHAT REALLY MATTERS IS PRIVATE DEBTS IN THE REAL ECONOMY.

    Public Debts and Servicing finance capital in wall street is where everybody is fixating, and those sectors are just not that important. The tail of the dog is wagging the dog.

    • Replies: @nsa
    , @antibeast
  81. the dollar will likely decrease in value relative to a basket of foreign currencies in the coming years

    There is a hidden assumption here–and that is that other countries have not been using their central banks in the same way and to the same extent as has the US.

    That assumption may be correct or not–I would like to see the evidence.

    My bet is that the economic depression will be world-wide, as the house of cards is world-wide.

    In a world wide depression there are no winners, only losers–billions of them.

    Wealthier countries have more to lose, so in that sense they would be the biggest losers.

    I don’t see any winners here–and I think any plutocrats who think they will “win” are badly deluded.

  82. Mefobills says:
    @Wuhan Sally Mai

    Economic hitman Michael Hudson just wrote that anyone who yells “Weimar” or “Zimbabwe” is defending the ruling class and is lying about the economy.

    Hudson is not an economic hitman, and rather instead is one of the few people alive who knows what he is talking about.

    Perkins wrote the book “Economic Hitman” and Hudson has written on how economic hits work. In other words, Hudson is the opposite of an economic hit-man.

    Your character assassination is not going to work, and only makes you look bad.

    Here is an excerpt from Hudson’s latest:

    https://michael-hudson.com/2020/04/the-use-and-abuse-of-mmt/

    At issue is how to measure “the economy.” For the wealthy One Percent, and even the Ten Percent, “the economy” is “the market,” specifically the market value of the assets that they own: their real estate, stocks and bonds. This property and financial wrapping for the “real” production-and-consumption economy has steadily risen in proportion to wages and industrial profits. It has risen largely by government money and credit creation (and tax breaks for property and finance), along with its economic rent, interest and financial charges and service fees, which are counted as part of Gross Domestic Product [GDP], as if they were actual contributions to the “real” economy.

    So we are dealing with two economic spheres: the means of production, tangible capital and labor on the one hand (what is supposed to be measured by GDP), and the market for financial and property assets, along with their rentier charges that are taken from the income earned by this labor and real capital.

    Read the above two times, because as usual Hudson drills bulls-eyes.

    For HYPERINFLATION in the modern era, it takes EXCHANGE RATE SHOCKS. Hyperinflation requires positive feedback, something like a screeching microphone in a rock concert.

    Positive feedback is waves that reinforce each other, like a standing wave.

    This is why a new Bretton Woods is necessary, to get rid of the floating exchange rate regime and to prevent bear raiders from shorting the currency.

    Shorting of currency is an unwanted positive feedback mechanism.

  83. Anonymous[191] • Disclaimer says:
    @Realist

    Cryptocurrency is a ponzi scheme…it is worse than fiat money. Gold is the answer, it can’t be traced and will never go to zero value.

    Spoken like a true luddite!

    Gold and cryptocurrency both derive their value from exactly the same reason – their suitability as money!

    And traceability? You’re behind the times, old man. Use monero instead of bitcoin!

    • LOL: NoseytheDuke
    • Replies: @Realist
    , @Achmed E. Newman
  84. Anonymous[247] • Disclaimer says:
    @Dr. X

    Thanks for the link, but speaking of the RJC on the one hand and the Republican Party on the other is a distinction without a difference, whose combined attack on Massie makes it clear the “bailout” and infinite credit creation are designed to benefit Jewish money interests and no other.

  85. Anonymous[191] • Disclaimer says:
    @Frankie P

    That’s a hell of a premium! This must be an American problem because its easy to buy and sell gold at low premium all over Asia.

  86. KA says:
    @Robert White

    You might be right . So are many of those who responded to your post.It is an important issue but the massive bailout is something that is obvious transparent and visible . This is the main game in the town now . This is what will destroy whatever is left of the 99% including the sense of belonging to something that is greater than anything else and which keeps us going .

    Public couldn’t have stopped 911 but they could have stopped the wars .
    People couldn’t have stopped the bio lab bioengineering or the spread but they can stop the bailout .

    • Replies: @Robert White
  87. @Digital Samizdat

    Input Mark Carney UN Climate Change Green Finance on Google and you will find what I am referring to. Moreover, follow Zero Hedge for the finance of Green Finance & UN Climate Change money.

    RW

    • Thanks: Digital Samizdat
  88. @Dr. X

    Since the day he opened his mouth in protest they’ve been targeting him.

  89. Mefobills says:
    @Kim

    he world economy rebounded post WW2 when the 1938 Saudi Arabian oil discoveries were brought on line. Dammam oil well Number 7.

    Forget about FDR and WW2 pump priming and all of that Broken Window Fallacy bullshit.

    The great depression was a balance sheet recession. Economists like Richard Koo of Japan, and even the jew Bernanke has admitted this.

    FDR’s direct spending via the RFC was actually correcting private economy balance sheets – only it wasn’t enough.

    FDR was going about improving the physical economy of production. The physical economy is the real economy.

    NSDAP Germany had no great depression. Why? They were effectively injecting debt free money in the form of Oeffa and Mefo Bills. These injections went into the physical economy, not speculation.

    You are bleeting out misconceptions that have been thoroughly debunked.

    WW2 also corrected U.S. balance sheets despite the blowing up of production. Government spending was misallocated on war, but there was so much of it (government spending) that private debt balance sheets were corrected.

    Nazi debts post WW2 were corrected by a the U.S. erasing said debts, and the new Republic of Germany was off to the races.

    Private debts are what matters – apparently most people have not gotten the memo.

    • Replies: @Ondra Hada
    , @Kim
    , @JacksonMIM
  90. Aardvark says:
    @Frankie P

    If you are not too particular about the type of coin, I found at least one web site where the Mexico 50 peso went for 1.5% over spot and Sovereigns went for 2.2% over spot. American bullion products typically do fetch higher premiums.
    Silver Eagles were going off at a hefty 43%; rounds at 24%, and $1 face at 33%.

  91. Some good news “COVID Crisis: Things are starting to look up” mauldineconomics.com :
    “Europe’s epidemic :momentum slowing …Thankfully the picture for the United States looks similar”
    How convenient – rates of infection for COVID-19 are slowing just as they would in April for the seasonal flu in the Northern hemisphere. How to create a planned-demic , take the seasonal flu and sex it up by calling it Coronavirus and then have the massmedia,using fear porn, scare the hell out of people. People in fear of their lives will agree to anything such as social distancing, self-isolation, quarantines and eventually mandatory vaccinations courtesy of Bill Gates and Dr.Fauci.

    • Agree: Hippopotamusdrome
    • Replies: @Desert Fox
    , @Wielgus
  92. Kim says:
    @Achmed E. Newman

    Oops, no, I was not addressing my comment to you. 1000 pardons. As to my survival plan, it does not really involve re-enacting the bank heist shootout from “Heat”…but in general I do expect lots of violence.

    It is going to be interesting to see how this pot comes to the boil.

    I would like to see any models that the PTB are using in their planning.

  93. @Mefobills

    Gottfried Feder understood that an economy can quickly make right turns out of a depression with the right leadership. All it takes is a leader telling the parasitic creditors to f*** off, and some clearing of cobwebs. People have been made economically retarded by the belief that private investment is what makes the world go round. They do not think about their beliefs fully, because if they did they would realize that it is productive output which gives an investment meaning, not the other way around. It is better to FIAT money towards Work/Innovations rather than expect Banks to act in the interest of the population as a whole ( “free markets” ).

    And then of course there is room for private investment in various things, but private investment shouldnt be hedged by the government!

    • Agree: Mefobills
  94. @Hapalong Cassidy

    I think a lot of parents are going to realize that not only is home schooling completely doable, but it can be done without the other four hours a day spent on climate change, feminism, gayness, 12 months a year black history month and whatever indoctrination the teacher’s unions think must be forced down the throats of kids.

    • Agree: Achmed E. Newman
  95. Kim says:
    @Mefobills

    Where did the money come from for Huey Long to implement the anti depression policies he applied? From taxing Standard Oil Louisiana. Or it couldn’t have happened.

    Cheap energy is what matters. Paper shuffling, data entry, and scribbling on ruled notebooks can be used to shift its benefits from here to there. But it can’t replace it. And the lack of abundant cheap energy is what is doing the world economy in. Watch as they shovel more money at uneconomic shale oil to keep it going.

  96. Mefobills says:
    @james charles

    The annual growth rate of deposits/broad money in the year to April will then reach 13% – 14%, already ahead of the 10% – 12½% range suggested in the Institute’s original March 2020 note. The annual rate of broad money growth could continue to accelerate in summer and autumn 2020, to move into the 15% – 20% band. US money growth in 2020 may be the highest ever in peacetime.

    M3 includes savings and money that is sequestered. It is not moving or doing anything active. It is potential demand.

    Those people who were holding finance paper in Wall Street, and many of the predators in Corporate America, are being bailed out. The bail-out entails swapping newly created money as a swap for their paper.

    (((Black-Rock))) was selected as the agent for funneling the new money to swap for the various types of paper held by the hedge funds.

    These people don’t really need money, they were holding paper that demanded interest previously, so they will just take their gains and stuff it into savings as M3.

    When the time is right, that is when the real economy is selling itself for nothing, the M3 will be deployed to buy up the country. It will then further plutocracy, as the rentier class becomes the ownership class.

    Private Debts are what matters. M0 (notes and coins) and M1 (ready money to spend) is what matters now, not increasing M3 allocated to finance predators at the public’s expense.

    M3 will be converted to buy up the real economy, furthering Oligarchy as real wealth falls into the hands of the do-nothing finance class.

    Thanks Jews.

    • Replies: @P C
  97. Anonymous[127] • Disclaimer says:
    @nickels

    Good. Let the whole thing crater.

    nickels isn’t just blowing smoke. That sort of attitude has been a precursor to revolution before in Western history.

    The was the theme of the entire French Revolution, which started as an attempt at reform. To quote Wikipedia’s ‘French Revolution’ article, “Faced with a financial crisis, the king called an Estates General, recommended by the Assembly of Notables in 1787 for the first time in over a century.” The result was, eventually, a royal execution. See classic book _Anatomy of a Revolution_ for more examples.

    The present Western governments claim legitimacy from their persecution of their historic citizens for acts before said citizens were born on the apparent grounds that said citizens have God-like powers that make them uniquely culpable for actions universal to humanity. This is a very implausible foundation for legitimacy. nickels reaction is not at all unreasonable, and would seem to be unavoidable.

    As to those who say “Return to your support of the government”, let me point out that if you want people to come running up to support you, it is a bad idea to announce your desires by shooting those people in the legs.

    I hope I haven’t been too subtle here — it’s an important message.

  98. Your article has some facts but has more sensation. The facts are acknowledged, are informative and are appreciated; but the COVID-19 pandemic is a Black Swan event, is it not? Every Black Swan brings unknown consequences as far as I know. Most such consequences are less than catastrophic.

    A Black Swan is not, in itself, a reason to panic. Climate Change skeptics (for example) could tell you as much.

    I am suspicious whenever someone (including you) starts tossing around randomly huge numbers like $10.5 trillion. Aren’t you suspicious, too? I suspect that the random hugeness of your numbers might be meant to distract from insufficiency of facts. I suspect this because, in my experience, the more randomly huge a number is written, the less likely the number has any real relevance.

    This does not make you wrong. But it does make you unpersuasive.

    Challenge: show us a line-item summary of where the biggest blocs of the $10.5 trillion are actually going. I realize that you think that you did that, but you really didn’t. Name names! Attach approximate dollar amounts to each name. For example: Andrew Finkelstein, Manhattan, aged 49, married to a granddaughter of Victor Rothschild, $120 billion. (There is no such person as Andrew Finkelstein as far as I know, nor do I know whether Victor Rothschild has any granddaughters. This is just an example.)

    Roughly sketch the mechanisms by which the dollars are transferred.

    Nothing is more believable than that certain clever persons, probably disproportionately Jewish, will have moved quickly and cynically to leverage the COVID-19 crisis to their own benefit; but for you merely to sound the alarm is not good enough. You need more facts.

    Without more facts, your article remains a mere diversion for the benefit of persons who like to panic.

    • Replies: @NoseytheDuke
  99. mh505 says:

    the reason they believed this nonsense was because the goofy infectious disease experts confidently assured everyone that the body-count would be “in the hundreds of thousands if not millions.”

    And to the chagrin to all of us dedicated Unz fans, the master of the site was among those “experts”.

    It remains a mystery to me how a person of the highest intelligence, such as Ron Unz, with his obvious analytical powers, would fall for this and then reject even the slightest possibility that it could be a hoax.

    Of course, he was not alone, but this is no excuse. There have been many others that called this out from the very beginning.

    So what is going on here?

    • Agree: Realist
  100. @9/11 inside job

    In my opinion Gates and Fauci are satanists.

    • Agree: Agent76
  101. ” No, I am not suggesting the US would ever default on its debt, that’s not going to happen.”

    Really?

    Really, really, REALLY?

    Dude, it’s already happened TWICE before.

    Read your history books.

  102. @Mefobills

    NSDAP Germany had no great depression. Why? They were effectively injecting debt free money in the form of Oeffa and Mefo Bills. These injections went into the physical economy, not speculation.<<<—-This. Schacht- Magic of Money.

  103. P C says:
    @Mefobills

    I don’t think so. Furthering oligarchy wealth worked when it came to overthrowing states and crashing regional currencies. This is different, there are no currencies left to debase and that is the source of the oligarchs’ power. It’s true that they’ll own all the infrastructure, but they already own all the infrastructure in the US. Without a viable fiat reserve currency centralized power collapses. We go back to city states. Maybe town states.

    • Replies: @Mefobills
  104. Mefobills says:
    @Biff

    The Similar thing Hugo Chavez attempted in Venezuela, and he was poisoned for his efforts.

    You are making FB’s point for him.

    Hugo Chavez was attempting to take oil profits and get that purchasing power into the hands of his population.

    Also, the real physical economy was being built up, similar to what FDR did.

    Chavez was poisoned by the “economic hitmen,” who in turn are part of the Malthusian/Jewish/Usury/Finance Capitalist class. This is the same class that FDR took on.

    Roosevelt can be rightly critized for his duplicitous maneuvers in getting us into war, and perhaps having so many neo-con type Zionist Jews in his cabinet. But, he was correct on direct spending and other actions:

    https://latimesblogs.latimes.com/money_co/2009/01/obama-roosevelt.html

    Primarily this is because the rulers of the exchange of mankind’s goods have failed, through their own stubbornness and their own incompetence, have admitted their failure, and abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence.

    They know only the rules of a generation of self-seekers. They have no vision, and when there is no vision the people perish. The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit.

  105. ‘ Imagine how jaws will drop on the day that Moodys and Fitch slash the ratings on US Treasuries to Triple B “junk” status.’

    But that will never happen. They’ll keep them up at triple A just like the MBSs up to 2008.

  106. beau says:

    the amerikan empire is approaching the point of termination, as have all previous empires, at the hands of bankruptcy, which is its current financial state. when the world no longer wants, or accepts, ‘dollars’, the final phase of Empire Amerika will begin.

  107. Realist says:
    @Anonymous

    Gold and cryptocurrency both derive their value from exactly the same reason – their suitability as money!

    Spoken like a true idiot. Gold is physical…cryptocurrency is made up, out of thin air…like fiat money.
    When you buy cryptocurrency what are you buying? It is imaginary..nothing backs it up.

    And traceability? You’re behind the times, old man. Use monero instead of bitcoin!

    All of it is digital, make believe money if it’s digital, it’s traceable.

  108. Mefobills says:
    @P C

    It’s true that they’ll own all the infrastructure, but they already own all the infrastructure in the US.

    They will buy up farms, land, mining… things that can be extracted from the earth and converted to a price. Companies that have key technology and unique patents will be bought.

    This is polarization, and it includes more than just infrastructure. It is the owning of and buying out of wealth producers by a class of people who do not produce.

    It is polarization of economy into the hands of parasites and money-changers, many of whom are sociopaths.

  109. Yusef says:
    @Kim

    “That would be great.”

    150 million Americans dead, but for you, “that would be great.”

    The one thing we never had to worry about with you loons was the risk you’d exercise political power earned through the electoral processes of a democracy.

    We did have to worry about you pulling a fast one on us to depopulate “your planet.”

    I don’t know what’s going on with this pandemic or especially the response it has initiated, but it doesn’t escape my notice there are people who think the deaths of so many is a “that would be great” moment in human history. They think it would be so great, in fact, it won’t surprise me if this crisis was engineered to achieve this “great” effect so desired.

    “Still much too high of course. Well above carrying capacity.”

    There’s no science whatsoever behind your assertions here. Pseudo-science is the thin veil behind which you cloak your hatred, resentment, and bitter desires for revenge.

    You exhibit complete barbarity. And hey, you may just be about to get what you want. I, for one, do not think it will be great, but on the other hand if your numbers are correct, there’s a 43% chance in five years you won’t be here to tell us “this is great.”

    • Agree: WhatAboutTheFix
  110. @KA

    Dr. Marc Lipsitch formed the Cambridge Working Group on Gain of Function Corona virus research biosafety hazard & Call to Action to stop it in 2014 at Harvard. Google Cambridge Working Group 2014 Gain of Function and you will see that I am a signatory of that Call to Action made by the top USA Epidemiologist Dr. Marc Lipsitch in 2014.

    We were successful in terms of preventing BSL-4 research on North American soil until 2017 when the NIH lifted the ban so that Fort Detrick could continue working on Corona viruses.

    Now we know that if we band together we can prevent BSL-4 research worldwide especially post-COVID-19.

    RW

  111. Mefobills says:
    @The Grim Joker

    I admonish my sons to get a chunk of land in a remote area of their choosing where they can be SELF SUFFICIENT. I also advise them not to put (tie up) their money into a house ! One can scoot from a rental apartment without a second thought but sticking around because of equity in a house might cost you your life .

    You are imagining things and not looking to history, where the same scenario unfolded.

    Here is a link for you to read:

    http://www.survival-spot.com/survival-blog/argentina-collapse/

    Our Jewish Neo-Con Zionist friends have always targeted Argentina. Why? Because they want Patagonia region, as the “practical country” for new Zion.

    So, our Zionist finance capitalist friends have been running their long game in Argentina, especially post WW2. Everytime Argentina goes into a debt collapse, international Zionists buy up more of the country and consolidate control over the polity. Zionists control Argentina with compromat and other schemes (sound familiar to now America?) Argentina has plenty of land that can be used to extract from.

    Scroll down to the section on Urban or Country? Here is an excerpt:

    Someone once asked me how did those that live in the country fare. If they were better off than city dwellers. As always there are no simple answers. Wish I could say country good, city bad, but I can’t, because if I have to be completely honest, and I intend to be so, there are some issues that have to be analyzed, especially security

    If you are in the right suburbs of a city, you can band together with your neighbors into an armed patrol – something that is difficult to do in the hinterlands.

    If you are in a city near a negro zone then you may want to escape to safety. Safety could be with relatives in a neighborhood watch area.

    I have already told my neighbors that I am going to organize them when SHTF, and to a man they have agreed.

  112. @james charles

    Wait a minute: don’t we have much bigger population than any of those other countries? Very misleading graphic.

  113. @Really No Shit

    If America is to become Weimar as you suggest then the WWIII can’t be far behind …

    Yup. And notice how the media are already pushing a whole new ‘Yellow Peril’ narrative on China, after years of ignoring the issue.

    Feels just like old times!

    • Replies: @gay troll
  114. @Greg Bacon

    Opportunity is good, dangerous but good.

  115. Miro23 says:

    And what about China? How long before China realizes that US Treasuries are grossly overvalued.

    Well, they’ve realized it for some time, but they’re caught in a trap. If they don’t recycle their export earnings (dollars) to the US (buying US bonds), then the US (and the world) won’t keep buying their exports and supporting Chinese industrial development.

    They are making efforts to diversity (get out of US bonds), and dollar transactions, but as yet there is no real alternative to the US dollar as a world reserve currency.

    This could change in the ME. The Chinese are the world’s Nº1 oil importer and they’re the main export market of Saudi Arabia (along with Japan and Korea), so it’s really the Asian agreement to trade oil in US dollars that underpins US dollar reserve status ( the US only accounts for about 8% of Saudi oil exports vs. 33% for these three Asians combined).

    Iran has already exited oil trading in US dollars and the Iraq government has requested that the US close its bases and leave the country. This puts a lot of focus on Saudi stability to hold the dollar/oil link together.

    In the worst case, the Europeans would trade oil for Euros and the Asians would probably follow along. Asian trade and investment is more important to Europe that US trade and investment, so Asians would just have to say goodbye to their US exports business and investments. The US economy would evaporate along with the loss of dollar reserve status.

    The US dollar would return to its pre-reserve days and solely represent domestic economic performance (nothing special) with imports far more expensive – maybe prohibitively expensive.

  116. @Kim

    The idea that “the rich will be fine if the economy collapses” presumes that their financial instruments and assets retain their value.

    As long as they continue to control the state, they’ll be fine. Even if the dollar goes, the rich will own plenty of assets and capital equipment. Don’t waste any time feeling sorry for the rich!

    • Replies: @Wielgus
  117. ken19 says:

    Well, since the author writes it a serious infection on the very first line I don’t see what his objection is, after all, the money is to end the serious infection and all the economic woes from the infection. I mean printing money and putting millions out of work and even more millions out of business would be the front line of this corona war… yes?

  118. nsa says:
    @Mefobills

    “100% of GDP myth….”
    Japan has a national debt to GDP ratio approaching 250% and it still functions. The USA ratio is about 110% so the debt could probably increased 2.5X with the only effect being some consumer price inflation for the plebes and lots of asset appreciation for the patricians. The national debt scam has a lot of room to run…….

    • Replies: @Mefobills
  119. Wielgus says:
    @9/11 inside job

    I could not find that article on that site. Unless it is behind a paywall or something.

    • Replies: @9/11 inside job
  120. Article’s reference to Bernie is telling.
    Too bad Bernie quit. Apparently.

  121. Wielgus says:
    @Digital Samizdat

    Some of them, but probably not all of them. The rich are not homogeneous.

  122. archeon says:
    @Anonymous

    Invest in those who ultimately benefit. China is the bartender who keeps refilling the glass of the obnoxious drunk and reassures him that his exceptionalism makes him fit to drive.

  123. There’s no doubt that the Coronavirus is a serious infection that can lead to severe illness or death.

    Gosh yes, cases are skyrocketing in NYC…
    https://153news.net/watch_video.php?v=HXXYBNWGYBDH

    • LOL: jkb
    • Replies: @jkb
  124. Wielgus says:

    Turkish interior minister Süleyman Soylu resigns. He has been blamed for causing chaos with his clumsy response to the impact of the virus – a two-day lockdown has caused panic-buying and street disturbances, as well as people pouring out into the streets ignoring the ban. The state in Turkey puts huge stress on looking strong and Soylu was probably urged to fall on his sword by his boss Erdoğan.
    http://www.cumhuriyet.com.tr/haber/icisleri-bakani-suleyman-soylu-istifa-etti-1732733

  125. @Jefferson Temple

    Thank you Jefferson Temple for pointing out that Rep. Thomas Massie put up a fight. I am definitely going to write his name in for President on my ballot come November.

    • Agree: Jefferson Temple
  126. Agent76 says:
    @Desert Fox

    Good post and here is some background on Gates so few know.

    Apr 7, 2029 Look Who’s Coming to the Rescue!

  127. @Ilya G Poimandres

    There is an excellent book that came out some years ago titled, “USA Inc.” by Mary Meeker. It gives a non partisan look at the U.S. Federal Government as if it were a business to be rated by Moody’s. It is scary to realize how bad off we are.

    • Replies: @Mefobills
  128. Anonymous[130] • Disclaimer says:

    I’m not sure whom to trust anymore.

    https://banned.video/watch?id=5e8e7a959120bc00404b0dd2

  129. @Desert Fox

    I am not sure about Gates and Fauci being satanists but they have both been called “evil”. Fauci because of his role in pushing AZT and causing the deaths of many people from a drug which was untested and should never have been allowed to be prescribed, see:”AIDS and the AZT scandal “spin.com :” The story of AZT,one of the most toxic , expensive and controversial drugs in the history of medicine”
    Then there is Gates and his “love of vaccines” to depopulate the world .,see : “Death by vaccination: The Gates Foundation and the new eugenics “prn.fm-Progressive Radio Network.
    I understand that 99% of the comments on Bill Gate’s social media say #f__k Bill Gates , see reddit.com/conspiracy

  130. gay troll says:
    @Digital Samizdat

    The Zionists would love for America to choose between fascism and communism. There’s really no wrong answer.

  131. @Kim

    Some of the comments here on Unz are unreadable because they’re blanked-out by means of a MORE link that doesn’t work. The one from anon here is another example. I would like to read anon’s comment.

    • Replies: @CyrusTheGreat
    , @Tom1217
  132. @nickels

    Addendum: Seems like — if in fact the pandemic scare was planned and intended in order to provide a media- and awareness-smokescreen for replacing existing systems with different ones (which is plausible for a lot of good reasons) —

    — then it seems like one of the things the planned-emergency pandemic is a smokescreen for is the scarcely-reported transition of the Federal Reserve into the Treasury and the issuance of trillions of dollars and the transference of those trillions to Blackrock so Blackrock will spend it on corporate debt that the corporations can never repay.

    Or am I just very misinformed and not understanding? Does this mean that people who understand and manage these things think trillions of dollars need to be spent on the purchase of the corporate debt — because almost all of them have more debt than their earnings would ever be able to repay? Is massive corporate-collapse due to massive debt that the corporations can never repay the nuclear meltdown they’re trying to dodge and conceal with a distracting media frenzy? Can they succeed? If the US ends up owning all this corporate debt as and after Blackrock finishes this job, then what?

    I hope someone who understands this can and will reply to my sincere questions.

    • Replies: @anon8383892
  133. Syd Walker says: • Website

    Funding economic recovery (and sustainable development in general) need not entail government taking on additional debt.

    Governments have the power to create money, debt-free and interest-free.

    Prosperity without usury is an option available to modern societies. The most significant impediment, at this time, is almost universal ignorance that this option even exists.

    https://www.monetary.org/wp-content/uploads/2017/02/President-Trump.pdf

    https://www.monetary.org

    https://positivemoney.org

  134. Mefobills says:
    @nsa

    Japan has a national debt to GDP ratio approaching 250% and it still functions. The USA ratio is about 110% so the debt could probably increased 2.5X with the only effect being some consumer price inflation for the plebes

    An increase in public debt to decrease private debts would work fine. Private debts in the real economy (the physical economy) when released, allow the producers to buy and sell from each other.

    Debt free money would also work, provided it is pointed at the physical economy, or paying down private debts. The Debt free money would disappear simultaneously along with private debt claims, thus releasing debt shackles.

    A Mefobill system that Schacht used would work at putting purchasing power into industry and the economy, and to recover industry which we lost. Oooops.. thought crime! I am speaking favorably about NSDAP economy. The Nazi’s were eviiiiiiillll! My apologies.

    As some have pointed out, public debts are now being used as a hedge for the wall street crowd. The Bernanke “PUT” has spread to remaining part of the finance bubble economy.

    We are all Jews now, living in their tikkun-olam clown world.

    If we want to really get down to brass-tacks, democracy is a failed system, which allows a Kakistocracy (the worst kind of people) to become rulers (hidden or otherwise).

    Putin is arguably the greatest statesman on the world scene today, and he was appointed into power, and only later sanctioned with a vote.

  135. Truth says:
    @Kim

    Yep. My mortage broker gave me an optimistic spin on it, and he has a few years’ experience, but with these banks it is usually monkey-see-monkey-do.

  136. Mefobills says:
    @Minnesota Mary

    There is an excellent book that came out some years ago titled, “USA Inc.” by Mary Meeker. It gives a non partisan look at the U.S. Federal Government as if it were a business to be rated by Moody’s. It is scary to realize how bad off we are.

    The U.S. has enormous resources, natural navigable rivers, energy, abundant farmland, an educated population. Albeit the population is under dysgenic pressure with immigration and lower IQ peoples outbreeding.

    If it were an economic board game, like “risk” I would take North America and then proceed to kick everybody’s ass.

    The game of economics is not that hard.. and America has all it needs.

    Kakistocracy is the problem.

    There is always hierarchy, and most people don’t want to take a hard look at our ruling hierarchy. Our rulers are hostile elites who do not have the betterment of the population in mind. In most cases, they are “internationalists” who believe humans and capital are fungible.

  137. ThereisaGod says: • Website

    Opening sentence> “There’s no doubt that the Coronavirus is a serious infection that can lead to severe illness or death.”

    Serious infection. Yes.
    Can lead to severe illness or death. Yes, but no more than normal.

    In the UK total deaths are DOWN in 2020 (up to April 10th).

    Recorded deaths attributed to “respiratory illness” (i.e. possibly COVID-related) are DOWN by 14% in 2020 (up to March 13th when this method of data collection was changed and this statistic ceased to be recorded). the figures for November and December 2019 were a bit (but not significantly) higher than normal.

    https://terroronthetube.co.uk/corona/lung-deaths-well-below-average-during-cv-crisis/

  138. @WhatAboutTheFix

    Good focused question. I have no idea but:

    Blackrock is just another cipher, another layer, another front. As you mentioned, they’ve unified the interface between theFederalReserve, Treasury, and Blackrock is just another API as far as I’m concerned, what it means to people in the know I wouldn’t even bother to…

    My guess:
    Those that have the means to manipulate the reins don’t know what to do.
    They will flounder.
    It is up to the people at every level to self-organize a means of sustaining life locally, if necessary. Not isolationism, but resiliency, self-sufficiency, responsibility. A lot of bullshit will have to die, people who have made a life habit of carrying bullshit, will have to adapt, or suffer under new tectonic faultlines. The margins won’t allow it, and the skimming schemes that worked for decades will only bring sharp correction.

    Dangerous opportunity.

    • Replies: @WhatAboutTheFix
  139. cortesar says:
    @cortesar

    Just as I said
    Exhibit A

    Uber Narcissistic Asshole Richard Spencer
    Just a few days ago he claimed there will hundreds of thousands of deaths and the government should be authorized/justified taking infected people out of their homes and putting them into some kind of interment camp-See JFG podcast)

    • Replies: @Hippopotamusdrome
    , @Hail
  140. @Really No Shit

    WWIII has been underway for quite some time now. As always it begins with propaganda and economic preparations but even the hot wars have been nibbling away around the edges for a couple of decades. WW I, II and III are really all the same long term war, with breaks to implement the changes and adaptations considered necessary to achieve the desired outcome. This current phase will target everyone, everywhere.

    The Protocols pretty much nailed it and how long ago was that? I don’t doubt that they go back much further than is even claimed.

  141. @Wielgus

    I get the Mauldin Economics newsletter and I believe that the statement about things starting to look up was included in a very brief letter only sent to subscribers (it’s free) on April 12th and therefore is not available on their website .

  142. @V. K. Ovelund

    I would have thought that the people with enough brains and cunning to create these circumstances would also possess the notion that they could hide their identities by using a web of hard to trace corporate identities.

    • Replies: @V. K. Ovelund
  143. I get the Mauldin Economics newsletter (free)so I believe the statement about things looking up was just sent to subscribers and was therefore not included on their website .

  144. Richard B says:
    @nickels

    Hats off to whoever paired this article with EMJ’s.

    I’m assuming it was Ron.

    Whoever it was clearly knew what they were doing.

    • Replies: @WhatAboutTheFix
  145. Maybe they took it too far.

    • Replies: @jkb
  146. Patricus says:
    @Kim

    “The cheap oil is gone.”

    Don’t know if you noticed oil is about $20 per barrell. There is far more in the ground than all the people on earth can use.

  147. Katie B. says:

    And finally, the most glaring treasonous agenda of all that the Council on Foreign Relations has consistently maintained for near an entire century is the destruction of the United States as an independent, sovereign nation.

    One World Governance and the Council on Foreign Relations.“We Shall have World Government… by Conquest or Consent.”

    https://www.globalresearch.ca/one-world-governance-and-the-council-on-foreign-relations-we-shall-have-world-government-by-conquest-or-consent/5541363

    • Agree: Robert Dolan
    • Thanks: jkb
    • Replies: @jkb
  148. @Miro23

    Correct me if I’m wrong, but don’t the Saudis already accept Chinese yuan? At least from China itself?

    • Replies: @Miro23
  149. Katie B. says:

    Chemical and Biological Weapons: The US Government Waged A War Against Its Own Citizens

    https://www.globalresearch.ca/chemical-and-biological-weapons-the-us-government-waged-a-war-against-its-own-citizens/5709255

    • Thanks: jkb
    • Replies: @jkb
  150. @Richard B

    Who/what is EMJ? What are you talking about?

    • Replies: @NoseytheDuke
    , @Richard B
  151. @Robert White

    “monetary Heroin junkies … would sell … out for [a slice of pizza]” [another dollar] [a sellable asset] …

    I think we would all eventually be better off if we VERY SERIOUSLY researched and contended with the reality of the addiction-behavior phenomenon in all of this … and in a lot of other financial things.

  152. The (((bankers))) got their vaccination.

    We can go back to work now.

  153. @NoseytheDuke

    That is a point to be considered and I am glad that you have raised it. It is plausible; but again, one would like some substantial examples of “a web of hard to trace corporate identities.” (I mean, examples outside the context of, say, a John Grisham novel.)

    And then one would like to see a substantial connection between such a web and the mooted $10.5 trillion. It is no good for our author to say, facts are hidden, evidence is invisible, so here is an explanation based on hidden facts and invisible evidence to which neither writer nor reader has access. That’s not an explanation. It’s not even a conjecture. It’s merely a manifestation of ill-grounded panic, based on arithmetic of very large numbers.

    If our author had suggested that, say, $10,500 went missing, well: that’s a lot less. The $10,500 might make an interesting story, too. But our author has added nine more zeroes to such a figure. And why only nine more zeros? Why not ten more zeroes? Why not eleven? Why not twelve? As long as we’re generating random numbers over which to panic, why not go for a figure that is really big?

    Credulity is strained. The total is too large. One would like to know where the money went.

    Now, I am being a bit unkind to our author. I exaggerate, for our author has indeed given some interesting facts, his research is useful, I have learned some things by reading, and the figure of $10.5 trillion is better tethered to our author’s subject than I have allowed; but what rogue is clever enough to steal anything like six months’ worth of the entire output of the United States without your and my noticing? If six months’ worth of your output went missing, would you not notice?

    My comment today is of course too short (and too little informed) to rebut the article. The comment merely explains my skepticism.

    My advice, if you want it, would be to wait a while before you consider joining the stampede. I suspect that, six months from now, the economic problem will have become clearer and there will be less cause to panic.

    Regarding webs of hard-to-trace corporate identities, I can only go on my own experience. I have never seen much of that. Maybe I hang out in the wrong places to see such things, but even rackets like Elizabeth Holmes’ Theranos have clear ownership as far as I know. Even Steve Sailer’s Iranian-American car dealership scam had clear ownership as far as I know. If you have ever filled out Schedule K of a U.S. corporate income tax return, then you will be aware of the laws that discourage the sort of racket you describe. (In my state, the state demands even more antiracketeering proof than the IRS does, so maybe the racket is easier in other states; I would not know.) Not that such racketeering is impossible (though I’ve no idea of how to do it), but I would like substantial, concrete, relevant examples during the past 30 years or so, please, before I believed it.

  154. @cortesar

    Richard Spencer is also for gun control and thinks mass shootings are real.

  155. Mehen says:

    Big money goes around the world
    Big money underground
    Big money got a mighty voice
    Big money make no sound

    [MORE]

    Big money pull a million strings
    Big money hold the prize
    Big money weave a mighty web
    Big money draw the flies

    Sometimes pushing people around
    Sometimes pulling out the rug
    Sometimes pushing all the buttons
    Sometimes pulling out the plug

    It’s the power and the glory
    It’s a war in paradise
    A Cinderella story
    On a tumble of the dice

    Big money goes around the world
    Big money take a cruise
    Big money leave a mighty wake
    Big money leave a bruise

    Big money make a million dreams
    Big money spin big deals
    Big money make a mighty head
    Big money spin big wheels

    Sometimes building ivory towers
    Sometimes knocking castles down
    Sometimes building you a stairway
    Lock you underground

    It’s that old-time religion
    It’s the kingdom they would rule
    It’s the fool on television
    Getting paid to play the fool

    It’s the power and the glory
    It’s a war in paradise
    A Cinderella story
    On a tumble of the dice

    Big money goes around the world
    Big money give and take
    Big money done a power of good
    Big money make mistakes

    Big money got a heavy hand
    Big money take control
    Big money got a mean streak
    Big money got no soul…

  156. I am quite prepared to believe that a hastily passed relief bill diverts substantial sums of money to persons it should not. I only doubt that one can diagnose the problem without (a) naming the persons and (b) outlining the diversion mechanism.

  157. @Anonymous

    Realist is right on this, and you are 1/2 right. Gold and silver are great as money. Crypto is great currency, but it is not a trusted store of value. Are you so sure, #191, that no one will EVER find a way to more quickly create more (add to the blockchain, hack the blockchain, whatever)? Would you bet a life of labor on that?

    Unless we find another band of savage Incas or the like, to rob blind, because they were using the stuff as interior decoration (the idiots), or it is found on an asteroid that can be reached and mined, there is not going to be enough gold found at one time to significantly change the amount in humans hands (or in their backyards). It will not lose its value as money, then.

    • Replies: @Anonymous
  158. Nothing ever gets fixed before it hits the ground. Let the corrupt and false economy fallapart and then, and only then, can some serious people fix things.

    • Agree: Sick of Orcs
    • Replies: @Sick of Orcs
  159. anon[161] • Disclaimer says:
    @Jefferson Temple

    Thanks. How did Whitney miss that, after Trump made such a fuss about Massie?

  160. Katrinka says:
    @Robert White

    Good synopsis, but I would add that our biggest problem is the fact that bankers are immune to prosecutorial action because we have a corrupt Department of Justice. The bankers have sovereign power, more power than those we elect to Congress. Bankers pay fines, they do not face jail terms.

    • Replies: @Robert White
  161. @Carlton Meyer

    A bigger question might be why is there a 57 y/o NJ National Guardsman to begin with?

  162. @WhatAboutTheFix

    The comment from anon has a bold word [More]. If you click on the [More] then you will see anon comment.

  163. @james charles

    hmm…cases per 1,000,000 million residents? Where’s the LOL button?

    See here: https://www.ft.com/coronavirus-latest

    Apples to apples we’re still not great. But we’re also relatively fat and diabetic.

    • Replies: @james charles
  164. Hail says: • Website
    @Hippopotamusdrome

    I don’t know if you have to be a citizen, though

    The wording I have seen: “All citizens and permanent residents.”

    At least it doesn’t go to illegals, but maybe someone will find a loophole and a judge in Hawaii will mandate that all illegals (who are after all The Real Americans) are to get a double portion, to fight racism.

  165. Hail says: • Website
    @cortesar

    Add Richard Spencer to the list of those who have disgraced themselves during the Corona Panic, who have suspended all rational faculties to indulge in Doomerism.

    “Richard Spencer caves in to ‘CoronaParanoia’.”

  166. Anonymous[200] • Disclaimer says:

    Solid analysis EXCEPT because this is a global pandemic all the other governments around the world will be printing money to save their economies too. Doesn’t that make it a wash?

  167. Drew says:
    @alex in San Jose AKA Digital Detroit

    Re: Deagal

    Boomers account for roughly 66 million, and there are several million more older than them. By ’25 the youngest boomers would be 61 years old, and the health care sector would be in tatters, so I’d imagine that cohort would go from largest to smallest quite quickly, and that there would be virtually zero pre-boomers. That’s 50 million+ deaths right there.

    There are also a lot of extremely sick and obese people whose existence is entirely contingent on the current health care order. Should that deteriorate, there will be lots of deaths from complications from things like obesity, diabetes and asthma. That’s probably 15-20 million right there.

    Don’t forget that there are lots of people, especially males who have no practical skills or strength. They will starve. Honestly, its impressive in its own way how most males under the age of 40 have virtually zero mechanical aptitude and no idea how to produce or prepare any type of food. They aren’t going to last very long.

  168. Skeptikal says:

    “Wiemar America, here we come!

    That’s spelled W-E-I-M-A-R.

  169. cortesar says:

    Tonight # 1 on our Social Distancing Top 50

    Inspired by Kurt Hamsun a novel, the ultimate ode to the men that built America that is no more

    [MORE]

    Telegraph Road
    A long time ago came a man on a track
    Walking thirty miles with a sack on his back
    And he put down his load where he thought it was the best
    Made a home in the wilderness
    He built a cabin and a winter store
    And he ploughed up the ground by the cold lake shore
    And the other travellers came walking down the track
    And they never went further, no, they never went back
    ……………………………
    From all of these signs saying “sorry but we’re closed”
    All the way down the Telegraph Road

  170. Anonymous[127] • Disclaimer says:
    @Achmed E. Newman

    The threat models are different in both cases. I feel its actually far more likely that BTC will lose value because people migrate to a more modern cryptocurrency, and very unlikely that bitcoin algorithms will be fatally attacked beforehand.

    In the case of gold, the biggest problems are finding safe storage, liquidating at a good price, and transporting in case of emergency. I’ve noticed that it’s very easy to liquidate gold anywhere in mainland Asia, whereas Europe and America make things a lot more difficult. Australia is even more exteme and I’d consider physical gold a very bad investment there. Too easy for the government to control sales, and too hard to smuggle the physical metal out.

  171. @Miro23

    China has already introduced their own version of Chinese Treasury. They want to stop needing a huge foreign reserve.

    It has begun. Just no idea if the Chinese can succeed.

  172. @Achmed E. Newman

    Ah, the Comanches; they less resembled the Algonquin or the Choctaw’s then the legendary mounted archers of history: Mongols,Parthians, and Magyars.

    They squatted around fires gorging themselves on charred bloody meat.
    (They didn’t eat fish or birds unless they were starving.) They fought, reproduced, suffered and died.

    They were in most ways typical hunter- gatherers…

    What a fantastic read and realistic, fair treatment by S.C. Gwynne. No moral double- standards here. The story of Qanah Parker is itself
    ”O. Henryesque,” in its stark irony.

    I’m going to read your review now. I couldn’t get enough of this book!

  173. Wielgus says:

    Erdoğan has not accepted Soylu’s resignation so he is still in office. I suspect that he will be eased out a little further down the road, however.

    • Replies: @Daniel H
  174. Miro23 says:
    @Digital Samizdat

    Correct me if I’m wrong, but don’t the Saudis already accept Chinese yuan? At least from China itself?

    Only partly, but with strong US opposition. There’s a recent Bloomberg article about this:

    China has sought for over a decade to encourage international use of the yuan, with varying degrees of enthusiasm, hoping to bring the currency’s role in international trade and investment into line with the economy’s clout. For a number of reasons, including capital controls, that has faltered.

    But they’re still trying, and they’re having more success and getting Russian support.

    Then there’s the steady rise of Shanghai’s yuan-denominated oil contract, launched in March 2018. As of late last year, the contract accounted for more than 14% of oil trade on major exchanges, according to Bloomberg Intelligence. That’s not yet threatening the West Texas Intermediate and Brent benchmarks, and the figure may be inflated by the nature of China’s retail-heavy market, but it’s certainly nibbling at the edges.

    The geopolitical timing is also right. Saudi Arabia has found U.S. support to be less reliable and vocal than in the past. China is already its largest trading partner, and holding yuan, difficult in general because of capital restrictions, is also less awkward for a kingdom building infrastructure with plenty of Chinese contractors, and with an appetite for the country’s technology.

    Russia also needs friends, and has already been moving away from the dollar, making it perhaps the more eager of the two. President Vladimir Putin’s aggressive moves to further Moscow’s interests have caused blowback and triggered rounds of U.S. sanctions, including on subsidiaries of the country’s largest oil producer, Rosneft PJSC. Moscow has already been putting more of its currency reserves in yuan, and taking some payments in the currency, too.

    https://www.bloomberg.com/opinion/articles/2020-03-16/oil-price-war-may-revive-china-s-global-yuan-ambitions

    • Thanks: Digital Samizdat
  175. @Achmed E. Newman

    Nice job Newman, that someone cares enough about our societal
    “predicament” – and can juxtapose our original nature (with what we’ve become) without hidebound prejudice or virtue signaling. Thanks for reading the book and taking the time to winnow the facts and parsing the gist of what Sam Gwynne has so elegantly documented.

    An excerpt from your review:

    “The ultimate freedom of life on the high plains, with the buffalo and warfare being the whole point of existence, with customs and protocols, but no real laws, no courts, no fences, no taxes is really something that takes some imagination to see the beauty of.”

  176. Daniel H says:
    @Wielgus

    Erdoğan has not accepted Soylu’s resignation so he is still in office. I suspect that he will be eased out a little further down the road, however.

    What’s wrong with you? Are you a faggot? Putting that little neutered u on top of the g in Erdogan’s name.

  177. Zwarich says:

    I’ve admired Mr. Whitney’s work for a very long time. This article is another excellent piece from him. But there is a gaping logical flaw here, when he writes:

    “Of course the reason they believed this nonsense was because the goofy infectious disease experts confidently assured everyone that the body-count would be “in the hundreds of thousands if not millions.” Remember that fiction? The most recent estimate is somewhere in the neighborhood of 60,000 total. I don’t need to tell you that the difference between 60,000 and “millions” is a little more than a rounding-error.”

    This argument will not stand up. The obvious response is that our extraordinary measures of shutting down most of our economy has been successful in causing this reduction in the infection rate and death toll.

    If we had done nothing, the counter-argument goes, the death rate very well may have been as predicted.

    Whether or not that is true, it remains to be seen if it has been ‘worth it’. Will ‘the cure’ turn out to be worse than the disease?

    If Mr. Whitney’s predictions prove to be correct, the death toll from the calamities and likely social chaos that will follow, (possibly even including world war?), could be much MUCH worse. Humanity’s very survival may very well be ‘in play’.

    • Replies: @L.K
  178. @Anonymous

    No, it is not solid analysis. The author means well and might (accidentally) turn out to be more or less right, but the analysis is so full of holes that it is more holes than analysis.

    It is not even clear what the article is adding to what to reach its spectacular headline total of $10.5 trillion. (To exaggerate for purpose of illustration, it is almost as if I said, “I lost 6.2 pounds on the treadmill last month and my dinner weighs 2.3 pounds before cooking and 2.0 pounds after, so that’s 6.2 + 2.3 + 2.0 = 10.5 pounds in total.” What sense does it make? The article should explain its $10.5 trillion more clearly.)

    The principal value of the article is in that it introduces several interesting facts. If the article’s analysis has significant value, however, I lack the wit to grasp it.

    Try this Unz.com article, instead.

  179. @Alternate History

    That’s human nature. For awhile, “crumbling infrastructure” was worrisome. It won’t be again until there’s some avoidable catastrophe involving a bridge or roadway.

    Politicians want to spend tax money on sexy projects like buying braces for left-handed lesbian grandmothers to level the playing field. Maintenance is a White throwback.

    • Replies: @RadicalCenter
  180. @WhatAboutTheFix

    E. Michael Jones, his article appeared as one of the two featured articles alongside this one.

  181. Richard B says:
    @WhatAboutTheFix

    Who/what is EMJ?

    E. Michael Jones

    What are you talking about?

    His “Nazi Hunters” was alongside Whitnety’s “Weimar America” on TUR’s home page yesterday.

  182. I have always enjoyed the writings by Mike Whitney but he really needs to go and study MMT for a better understanding of how the US monetary system actually works.

    The debt is not a problem to worry about! A better understanding starts with recognizing the fact that a state that issues its own currency in no way resembles a household. Where a household has to match its expenditures with its income, a currency issuing government faces no such limitation.

    There’s tons of superb info on MMT on the web. They do a really excellent job of getting the message out. Stephanie Kelton (probably the most famous economist promoting MMT) has a book out in June 2020 called “The Deficit Myth’. Read and learn!

  183. Again, there many many very good introductions on MMT (videos, audios) available on the internet.

    This is a very recent audio of an interview Bill Mitchell gave to a financial journalist of ABC (Australian broadcaster). Bill is an Australian economist and is one of the developers of MMT.

    Grasping MMT is like a gestalt switch. After you’ve grasped it you’ll never go back to your previous muddled thinking about these issues.

  184. @Katrinka

    I’m a regular reader of Wall Street on Parade where Pam & Russ Martens expose the enormous fines that the marquee serial felon Wall Street Banks are handed yearly. Please bookmark Wall Street on Parade as it reveals the criminality surrounding the top marquee banks & their in-house serial felon trading desks.

    Citi is the worst offender serial felon corporate entity in the USA whereas Deutsche Bank is the European Union arch criminal bank.

    RW

  185. @Mefobills

    Part 1 :

    No I am not imagining things and I have no need to understand world history or that of Argentina to plan a departure from a US City to a very wild and rural area. First of all it might surprise you to know that I have travelled extensively in South America including Argentina. I speak Spanish and Portuguese fluently.Take the bus from Florianopolis/ Brazil to the Paraguay/ Argentina border. It is a wilderness drive. The country is empty and from time to time one passes another vehicle or a small farm. At the junction of the 3 borders you can head west into Paraguay or continue south into Argentina. Either way you will find the same desolation. That part of both countries is still wild and mainly uninhabited. If you go northwest in Paraguay you will end up in Bolivia and travel along the southern border you can head back to Argentina or over to Chile. If you elect to head south into Argentina you can jog back into southern Brazil or the West of Uruguay. All these areas are sparsely populated and wild country. Or, after Argentina you can just remain in Brazil. Outside the big cities the country is still a vast wilderness ! Borders are unpatrolled and unmarked and generally the Police in these areas are few and content to let sleeping dogs lie. The last thing they want is to have their day disturbed. A person travelling through and keeping a low profile and a clean nose is hardly noticed or cared about. Finally, they are all corrupt. A rural policeman who may be paid his $200US/ month salary infrequently is thrilled to get a $25 bill to look the other way while you disappear out of town. You can cross from one country to another without even knowing it. Southern Argentina past Buenos Aires and Montevideo and getting into Patagonia the country is even more wild, and very cold. If I remember correctly there is a coastal highway and a road east west running to southern Chile. In between there is nothingness.

    Patagonia is cold and I dont know anything about Jews buying it up. If they are I doubt it would be very public, there are always Jew rumours wherever you travel. They are the boogey man of us goys. However if the Jews want to buy up Patagonia they have my blessing. I dont really give a shit. It is the last place I would abscond to in any case. Also bear in mind that South America is staunchly Catholic and there have been frequent instances of Jewish enclaves insinuating themselves into catholic areas and being evicted lock, stock and barrel. The last I heard of this was in Guatemala. Further, there are also many Germans in South America descended from many nefarious fugitives from WW2 Many if not all of them worship Adolph, consider Spanish and Portuguese to be inferior languages and have no use for blacks, mestizos or members of the tribe. The military culture and secret police of many of these countries are philosophically, technically and operationally based on and derived from the doctrines and training of the WW2 german army and Gestapo. Attend a Chilean military parade and you will suffer a sense of dislocation. They were trained by German officers back in the day.

    If ever a person wants to disappear from North America for good or bad reasons, try South America. Once you land on the continent you can vanish without a trace. When hardened criminals in Rio and Sao Paolo get too much heat from the police or rivals where do you think they disappear to ?

    In any case for purposes of this discussion if there were a situation where there was chaos in North America, and there was a lockdown it would be virtually impossible to bug out to Argentina. A person or family would have to have a place on THIS continent. I would fit in there and be inconspicuous but an American who cannot speak a word of Spanish or Portuguese would be out of place even of he could get there. Hence your comment about history and Argentina is irrelevant for the purposes of this discussion.

    My Part 2 response will follow shortly.

  186. @Thomasina

    The same jews own the media the banking system and most of the hospitals. This is the flu and nothing else.

  187. To the guy who keeps putting me on time out.

    Mean strong men like me are going to fix this nation. Not dweebs who write long winded comments that amount to nothing. It is time to be mean to the people doing this to us not debate with them. It is time to put them on notice that we see them for who and what they are.

    If you are against me you are a ghoul and part of the problem. History is clear where this is going., I’m just trying to push it along so my kids don’t have to take up this fight. You are trash.

  188. Tom1217 says:
    @WhatAboutTheFix

    Anon’s full comment is #84.

  189. @Mefobills

    Part 2:

    Regarding your comment favouring staying in a City versus disappearing into a very rural area I would like to make the following points. The essentials of life and survival a city requires comes FROM outside the city. That juicy burger a New Yorker chomped into did not come from a cow raised in Times Square. Worse still those rice noodles I love come from China, the boots I wear from VietNam and my favourite shirt from Indonesia and the sweater that keeps me warm from India. What will the average citizen do when routes into the city are closed ? What will the homies in the projects do when their area has no more food. What happens if the water supply, gas and electricity is cut off ? 20,000 blacks erupting from the ghetto are not going to get into 400 buses and travel into a remote area looking for me in the hope of getting a loaf of bread and a piece of wild meat. Take any urban kid, pack up the essentials of survival and drop them off in the middle of nowhere then watch the terror in their eyes. Blacks will attack YOUR urban area and eat YOU. Banding together in an “armed” patrol sounds very heroic but it will only work if the members of the patrol are disciplined, physically fit, are armed, have sufficient ammo and have a will to fight (and die) and are well led. Most whites in an urban areas lack those qualities. Since you like “history” look at riots in US cities. Even the Police and National Guard can barely control the rabble. You and your armed patrol will be more successful and triumphant ? And who is going to lead them ? YOU ?

    In a rural or wilderness area, a resourceful man may meet others of a like mind and also band together with them. However he need not because he has no need. Most blacks have never travelled outside their “hood” That is all they know and that is where they will stay to prey on folks like you. The average city dweller, thirsty, starving, confused, demoralized will not debouch into a remote area hoping to find a meal. Look at what is happening now. Visit the supermarket and the social distance lineup stretches for sometimes a mile with people waiting to buy food. Will there be an orderly lineup when the supplies are short. When YOU come out of the supermarket with a piece of chicken who is going to stop a gang from thumping you and taking what you have. A man in the bush can find water, enough food to sustain him, shelter and wood for heat. What are you going to eat and where will you find a drink in say the South Side of Chicago.

    You can bank together with all your neighbours, relatives and friends and it will not do you much good if hordes of starving and thirsty city dwellers pay you a visit to see what you have. To this end the man in the bush has the advantage. First few people are going to venture out of the City even if they are able to do so, they will scavenge, loot and do whatever it takes to survive in that urban environment. The man in a rural area can shift to another area if he senses or perceives danger. The urban dweller will always be at a disadvantage.

    So you can stay in the City if you believe the bullshit you expound. You will not last long !

    • Agree: AnonStarter
  190. @FB

    And with all these socialist inspired programs Mr. WONDERFUL prolongs the great depression 11 years.

  191. @Stonehands

    If you’re young, strong, healthy, with no genetic conditions such as gout or diabetes, and in the majority, it sounds tolerable at best. For anyone else, likely a nightmare.

    It’s also not paradise to die from infections, appendicitis, gout, diabetes, and other things that modern medicine and that eviiil boring settled society currently treat and manage with little difficulty for most people. That paradise scenario would have many of us dying in our 20s, 30s, and certainly 40s, and often in agony.

    That’s deluded nonsense. Yay, how free and fun to die in agony at age 28 or 38! How manly!

    We can admire the courage and toughness of such people, who did what they had to do in their circumstances, without stupidly wishing to be in that situation ourselves.

    • Replies: @Stonehands
    , @glib
  192. @Sick of Orcs

    Well said, SOO. The next “virus relief bill” should have no further bailouts or privileges for big banks and corporations, but only funds to help the American PEOPLE and move towards self-sufficiency:

    (1) directly pay US Citizens a more meaningful amount than last time, as a temporary UBI;

    (2) put hundreds of thousands of US Citizens to work rebuilding roads, bridges, and schools;

    (3) put tens of thousands more US Citizens to work building new suburban and rural hospitals;

    (4) put tens of thousands more US Citizens to work building out our pathetic rail network;

    (5) put tens of thousands more US Citizens to work building a network of publicly owned medical labs and facilities to manufacture a large national reserve of N95 masks, wearable respirators, ventilators, and to make the most common prescription medicines cheaply, and 2 warehouses in each congressional district to store them;

    (6) put tens of thousands more US Citizens to work building a network of facilities to store a much larger reserve of oil and natural gas.

    Rather than borrowing or printing money out of thin air, use offsetting spending cuts and new taxes NOT paid by the great majority of US Citizens:

    1. Cut several hundred billion dollars out of the war budget to offset part of the expense.
    2. Impose federal excise tax of 20-25% on cash remittances to foreign recipients.
    3. Impose federal excise tax of 10% on marijuana products.
    4. Raise fed income tax BIGLY on the top one half of one percent.

    What about this would be unjust or not work?

    • Agree: Sick of Orcs
    • Replies: @Poco
  193. Anonymous[401] • Disclaimer says:

    Dunno. All this financial argle-bargle leaves me cold. Makes my head spin, too.

    If “printing money” is the answer, why can’t we print our own monopoly money as private citizens to pay bills? Why not just refuse to pay bills, period?

    If the Fed is the source of the problem, get rid of it!

    I remember back in 2008 when Mike and others rattled on and on about “tranches” and “QE” and other arcana…confusing the hell out of laymen. The gist was that the sky was falling…and soon Americans would be driving mini-cars, if not Flintstonemobiles.

    Yet little happened.

    So I’ll believe the economy is in dire straits when I see it. In the meantime, bloviation seems to rule the day…and I’m sick of it. All it does is cause worry about things that either never happen or we can’t stop anyway.

    For weeks (months?) now I’ve heard is that the end is nigh…that the bubonic plague is back. Yet after all the hooey and hysteria:

    Flu deaths in America 2017:    80,000
    Current projection Covid-19:   60,000*
    Actual Covid-19 deaths 2020: 22,154

    * Original Corona Virus “millions dead” estimations INCLUDED both lock-downs and physical-distancing

  194. @Paulbe

    China also won’t release their true numbers of fatalities from nCov-19 either which indicates that they are war ready mode correspondingly to the United States of America who is also attempting to cover up a mass spate of so-called ‘influenza’ case load prior to the February announcement of the Wuhan outbreak.

    The USA military bases have been notified to keep their numbers of infected troupes inside intel only for the exact same reason China shut down dissemination of critical clinical data to the outside world. Both USA & China are responsible for the bioweaponry that we have to contend with now.

    They engineered this outbreak jointly but are attempting to point the forensic finger of nationalist rivalry at one another to confuse the great unwashed masses of serfs they are collectively duping into submission to state sponsored bioterror & biowarfare.

    I demand biowarfare reparations from these out-of-control terrorist nations!

    Class Action Lawsuit against USA & China is warranted now.

    RW

  195. @RadicalCenter

    “It’s also not paradise to die from infections, appendicitis, gout, diabetes, and other things that modern medicine and that eviiil boring settled society currently treat and manage with little difficulty for most people…”

    What prompted that ignorant ejaculation?
    Try reading the book, Dumbo.

    • Replies: @RadicalCenter
  196. @Paul from the Netherlands

    Thanks for explaining things about how the US monetary system works. Would you also be kind enough to explain why, if a state does issue its own currency, then why does the US treasury pay interest to the FED? I understand the case to be that the FED, or Federal Reserve, is a private corporation.

  197. L.K says:
    @Zwarich

    But there is a gaping logical flaw here, when he writes:

    “Of course the reason they believed this nonsense was because the goofy infectious disease experts confidently assured everyone that the body-count would be “in the hundreds of thousands if not millions.” Remember that fiction? The most recent estimate is somewhere in the neighborhood of 60,000 total. I don’t need to tell you that the difference between 60,000 and “millions” is a little more than a rounding-error.”

    This argument will not stand up.

    You caught that too, eh?

    IOW, the author is making a FALSE comparison between a possible 60,000 total with all the quarantine/lockdown/ social distancing measures in place, with 100s of thousands or more with NO measures. As a matter of fact, he does not even bother with references…

    At best, this is intellectual laziness, at worst, intellectual dishonesty.

    It is even worse when such irresponsible statements are made during a serious health crisis.

  198. @Stonehands

    Edited to be nice right after Easter. The last paragraph of your comment led to that not-so-ignorant comment. And the entire scenario of how they lived, without modern medicine and science. The romantic free image yields to the reality of how miserable, painful, and shot most lives were before recent advances in medical science and prosperity. That shouldn’t have been hard to figure out.

    I used to be a libertarian. But I grew up.

    To be even clearer: no law, no society as we conceive of it, doesn’t work well if you’re not powerful, I.e. young and healthy and disease-free and in the majority racial or religious group.

    • Replies: @Achmed E. Newman
  199. Truth3 says:

    Let’s start fresh.

    First…

    Hang all Bankers, Lawyers and Brokers.

    Start with the Fed (all past officers) and Wall Street.

    Let them have their choice…

    Crucifixion with rusty nails…

    Or…

    Upside Down by the Ballz with meathooks.

    Sell tickets to watch. Charge $1… $2 for watching Bernanke. Hang him at South of the Border…

    Then, let the rest buy a one way ticket to Israel, for $1… if they leave all the rest of the loot behind.

    Then, dissolve all Federal Bonds as frauds.

  200. bluedog says:
    @obwandiyag

    This is what Ron Paul told Bush in 2009 to put the money in the hands of the people.he said give each adult American a million dollars with the understanding that they have to spend it which would have come to some 290 million, rather than the trillions that went to the deep pockets.Ron Paul said if he would do this that in 5 years or less we would be out of the mess,and we would have been.!!!!

    • Replies: @Achmed E. Newman
  201. @anon8383892

    I keep wrongly thinking that somebody somewhere at least sort of knows what they’re doing. Thanks for the reminder that nobody does.

    LOCAL, self-sufficiency, responsibility does make the most sense, yes! That gives me hope. What an enormous project humanity is faced with now.

    But as for what the government is doing… The US is about to buy, via BlackRock, most of the corporate debt that the corporations will never be able to repay.

    Will the US be making payments to the creditors? (since the corporations BlackRock is buying the debt from won’t be)

    If so, will the money for those payments come from the freshly-printed trillions of USD?

    Is the US, via BlackRock, getting bankruptcy prices on this debt?

    Will the US be selling what they purchase? via BlackRock? at a profit? (if purchased at bankruptcy prices)

    Who would they be able to sell to? To companies that have sold their debt to the US, via BlackRock?

    To companies that are selling their debt to the US, via BlackRock, that currently don’t have enough earnings to pay the bond debt as and when due? (eg would they buy back with the money from the sale of the debt to the US via BlackRock)

    And many many more questions…

    I’m sure I’m revealing my complete lack of understanding of how things work and what’s going on. I’m just intensely curious, and am not finding any explanations anywhere. “Trillions” of dollars are being created and moved around… But it sure doesn’t seem like anybody has a sensible solution or a way to implement one.

    And I think this Fed>Treasure>BlackRock>recycledfiat is one of the two most important issues of the day (the other being the obliteration of freedom and damage to human spirit).

    Thanks for mulling this over with me.

  202. @Stonehands

    Thank you, Stonehands, for the compliment. I don’t write to be a good writer. I just write to get ideas out, but being called “elegant”? Wow. First time’s a charm, haha.

    I am very glad you took the time to read the reviews.

    Got to write to Miss RC next.

  203. @RadicalCenter

    RC, I know you have read posts on Peak Stupidity a time or two, based on your comment one time. Thank you for that.

    Read just the excerpt from Mr. Stonehands again. Does it say “paradise” in there? No, it certainly doesn’t. Both my 3-part review and the book itself do not paint a picture of the Comanche nation as anything like a paradise. I’ll tell you what, let me paste in more of the review just after that excerpt (including it):

    The ultimate freedom of life on the high plains, with the buffalo and warfare being the whole point of existence, with customs and protocols, but no real laws, no courts, no fences, no taxes is really something that takes some imagination to see the beauty of. The downsides are many, and those of us in civilizations (> 90% of Peak Stupidity readers, I would hope) can see those right away. Disease of any sort could simply mean death, with no hope other than in superstition. Months with no buffalo (another reason to have hated the white men – the buffalo sport hunters) could mean death for everyone. Bad weather could kill. It leads to this: It may have been such a great feeling at times to live in that world, partly because there were no changes in the meaning and way of life, but that’s just the problem too – there was no such thing as PROGRESS. Life was what it was, and nobody was going to change that. Sure, some years might bring many successful raids and killings and stealing of 1,000’s of horses. That wouldn’t change life though. Nothing would or COULD ever improve.

    With that amazing freedom to live only bounded by the whims of nature, one lived as an animal. I don’t mean that in the sense of intelligence. It was just the freedom of life as an animal (with better tools, slightly better…) with the savagery that comes with it – no thoughts existed about “oh, is it really RIGHT to kill these people who’ve done us no harm?” or “How can we improve life for the more miserable among us?”

    As the man said, read the book. If not that, please read the review. (With the Kung Flu and all, blog business has been going gangbusters!)

    • Thanks: RadicalCenter
  204. @bluedog

    MSNBC could really use a guy like you, Joel Bluedog!

    What an incredible way of putting it!. I really don’t think Ron Paul is nearly as retarded as you are, Bluedog, so he wouldn’t have said something that utterly stupid. If 290,000,000 Americans were each given $1,000,000 of the taxpayers’ money that would amount to $290,000,000,000,000.*

    What you do, man, is add the number of zeros in each figure to get the number of zeros in the total – math is hell, man! Just to break it down for you: 290 million x 1 million = 290 Trillion. Trillion, I say! Even with all the worst Socialist hand-outs that Mr. Whitney here is writing about, that’d be right at 10 X the TOTAL DEBT. Talking about busting yer budget.

    If you’ve got 290 TRILLION bucks to dole out, Bluedog, do you mind paying off the national debt first, real quick-like, and then giving out $900,000 to each adult American instead? Is that too much to ask, you innumerate dipshit?

    .

    .

    * The taxpayers would need to leverage their primary residences about 10-20 x over to come up with this money, but that’s a different story.

    • Replies: @Stonehands
  205. @Ilya G Poimandres

    As for the covid estimates being ‘wrong’.. Ceterus paribus – other things were not equal, the estimates were for a laissez faire approach, which is not what is happening now.

    Makes no difference, except for the duration of the epidemic, the steepness of the curve: at the end of the day, we must pay the toll that Corona-chan demands, large or small.

    • Replies: @Ilya G Poimandres
  206. Hibernian says:
    @Paul from the Netherlands

    … a currency issuing government faces no such limitation.

    Except societal collapse due to currency inflation.

  207. glib says:
    @RadicalCenter

    Radical, I think this post is somewhat misinformed. There are areas inhabited by backward, long living people where these conditions are largely avoided. They have somehow shrunk the technosphere, to misquote Orlov, and found robust, simple ways to assure a long healthy life. Books that study these phenomena call the diseases you list “diseases of civilization”. We have a well functioning body, finely tuned by millions of years of evolution. We don’t need all that much technology to thrive, just avoding the most unnatural parts of civilized life.

    • Replies: @Miro23
  208. Miro23 says:
    @glib

    Books that study these phenomena call the diseases you list “diseases of civilization”. We have a well functioning body, finely tuned by millions of years of evolution. We don’t need all that much technology to thrive, just avoiding the most unnatural parts of civilized life.

    A useful idea and not so complicated. Take all the advantages of modernity (healthcare, communications, comfort etc.) while also respecting those million year adaptions:

    – Fairly hard daily physical exercise (hunting/foraging proxy)

    – Little or no refined sugar (it didn’t exist). Honey OK.

    – Plenty of fruit (a naturally available product designed to benefit foraging mammals. Powerful anti-oxidant to complement physical activity).

    – Diet to include red meat (main source of fat and protein).

    – Regular small group interactions and loyalty ( evolved tribal group psychology to ensure survival +/- 25 people. Less in male hunting groups).

    – Interact with the full spectrum of age groups and live together ( tribal mutual support of generations)

    – Importance of separate male group activities and female group activities ( a basic long running adaptive division of labour).

    • Agree: Meimou
    • Replies: @RadicalCenter
  209. @Achmed E. Newman

    That’s funny -there is some msm chick or politico AOC type- awesome ivy edumacation l am sure -who made the same unforgivable blunder. SMH!

    • Replies: @Achmed E. Newman
  210. @ThreeCranes

    “Matthias Chang, former advisor to the Malaysian PM, however, zeroed in on the games as the likely entry point for what he described as a biological war waged by the US against China. In an interview with the Institute for War and Peace Reporting last month, Chang placed coronavirus on a continuum of American bio-attacks he said included deliberate infection of Guatemalans with syphilis and gonorrhea and Cubans with dengue fever, as well as creating the Ebola epidemic in Sierra Leone.”
    http://www.helenofdestroy.com/index.php/159-the-article-that-got-me-booted-off-medium-com

  211. @Felix Krull

    That is a belief that action is not linked to result of action.

    With no technology to develop artifical immunity, and endless hospital provision, sure. But flattening the curve and getting an effective vaccine would limit the damage. Of course ‘effective’ here is key, and I ain’t injecting anything sold by Gates, or the west really – I will wait for the Russian one, and fly over to get a jab there if need be!

    • Replies: @9/11 inside job
  212. @Stonehands

    Well, you clicked my links before, and I sincerely appreciated it. That’s what my one link goes to – it was on MSNBC and the anchor guy and this NY Times editorial board member lady made the mistake on live TV. This Commie Bluedog here made almost exactly the same mistake (6 orders of magnitude), but likely he will never get on live TV, except if we go Commie, and he is pictured getting omeletted.

  213. @Mefobills

    And now we come to the final part. That is you, General Mefo Bills organize your neighbours and to a man they have agreed. There is a SHTF, the Police and National Guard are non existent. for whatever reason. You and your band of warrior neighbours are on your own. Now as the leader you have to provide for your followers and that means the essentials of survival, food, water, medical, security among other things. But those things used to be supplied from outside your area. Now the water, electricity and gas are turned off, the supermarkets, hospitals and pharmacies and gun stores are already looted. Truckers are not coming into your area. As the commanding general how are you going to get those things. Once you cannot provide them, your band of armchair warriors will abandon you.Their “agreement” to a man will mean nothing ! For the purposes of this discussion however we will assume you all stay together. That means you must not only defend your block, you must defend your entire residential area for obvious reasons. If you defend your block alone the marauding gangs will come at you from the side streets, the back street and the front. You will soon be destroyed ! But now there is another problem. Other people in the community want to be the leader. Are you a better leader than they are ? DO you have the strength to hold together say the 10,000 people in your area. We will again assume you have those skills. You now have to physically defend your area. That means urban warfare and that means street fighting. You look at your band of happy followers. Some are in wheel chairs, most are obese, the majority are unfit, the majority are untrained, the majority have never been in a school yard fight. You might have a few guns and some ammo. You must whip them into shape even with the major handicaps already mentioned. S0 tell me:

    [MORE]

    -How are the streets in your area classified. Name the 6 classifications !
    -What are the goals of training ? What is necessary to make training effective ? What aids will you use, name 4 ? What battle drills will you implement name 9 ?
    -Name the essential pieces of individual equipment. Name the essential pieces of team equipment.
    -Since you are defending an area what are the advantages and disadvantages of doing so?
    -What are the two types of defense ?
    -What are the criteria for choosing strongpoints ? The criteria for tying then together ?
    -Will you have a mobile reserve to counterattack penetrations ? If so who, where and with what ?
    -How do you interlock fields of fire, what will be your light and heavy fortifications ?
    -Do you know how to lay a quick ambush ?
    -Do you know how to move a patrol down a street. Will you have men on both sides or just one side. Who will be protecting your flanks, who will be your scouts and rear guards ?
    -Do you have a rollback plan and what is it ?
    -Do you understand how to leapfrog a section or company and when/ how to use a hook or pincer (counter)attack.
    – Are you prepared to use the sewers for fighting, rest and recuperation and communication.
    -You are on the street and have taken fire now what ? You are on the street and everything seems quiet but before you move what are the three questions you must ask yourself.
    -With all this exactly where are all your food, water and other necessary supplies COMING FROM ?

    Urban warfare is unique. Experienced soldiers do not like fighting in a city. It is exhausting thirsty work. A one week battle will strip a man of 2 pounds a day. Dont believe me ? Find a construction site with a pile of rubble, put a 30 pound pack on your back, add 10 pounds for a rifle and 12 pounds representing 6 loaded mags and climb up and down that mound, run over it, crawl over it, run around it for say 12 hours in blazing heat or bitter cold? Now imagine doing this with rounds zipping and ricocheting all around you, wounded men screaming, perhaps some of the heroes who to a man agreed running away.

    I could go on for another 100 questions and problems but to me what you propose ie organizing your neighbours is sheer nonsense. In other words you dont have a clue what you are talking about or doing. Good luck to you and your group as the homies overrun your area and savage you and your group that is if any of those “who agreed to a man” are still around.

    What I have found with you Mefobills is that your comments are stupid and therefore you are stupid. Some other Unz reader will make a comment and you will respond with a comment that is irrelevant, unrelated and utterly nonsensical.

    For example, to my original comment you mentioned Argentina and Jews taking over there along with a website reference. But in a SHTF an individual or group in a US city does not give a horse’s ass who owns what in Argentina or Patagonia. IT is irrelevant.

    Next you talk about the folly of leaving an urban environment in the event of SHTF. Does it make sense to remain in a city with 10M starving desperate people who will do anything to survive ? A city without water, food,clothing, heat and electricity ? Without law and order ? It maybe a good decision. It may be the only thing possible but whatever, that decision better be arrived at after careful thought, planning and careful continuous rehearsal and continual refined planning and preparation.

    Next you talk about organizing your neighbours. Yet you have no concept of what that entails whether at a personal level, a group level, an area level or a logistics level.

    When I read your comments these are common threads that run through your words not only to my comments but to those of other Unz readers as well.

    You are incredibly dumb, naive and ignorant !

    • Replies: @Jedi Night
    , @NoseytheDuke
  214. @Ilya G Poimandres

    Isn’t it the seasonal flu given a sexy , media ready name ? “How to create a fake pandemic” By James Fetzer , fetzer.org
    Like in a normal flu season ,the infections from the alleged Coronavirus are beginning to fall off in April, but just like the flu it is likely to return in the fall ,and will mostly kill old people with compromised immune systems . An analysis of the deaths in Italy has revealed that the average age of death is 79.5 and 99% of those dying from the alleged Coronavirus had pre-existing conditions such as hypertension ; diabetes and heart disease .
    Beware the vaccine being developed by Bill Gates , he’s an eugenicist , intent on culling the World’s population and perhaps like the Duke of Edinburgh he would like to return as a deadly virus . See:
    “Death by vaccine : The Gates Foundation and the new eugenics ” Progressive Radio Network ,prn.fm

    • Replies: @Ilya G Poimandres
  215. @Hapalong Cassidy

    The ‘extra time’ was/is taken up just trying to control all the other kids.

    “Normal school hours for my kid were 9 to 3:30 M-F. Since our school district switched over to remote learning a month ago, my kid gets all of the day’s schoolwork done between 9 am and noon. And in four days per week instead of five. So what the hell were they normally doing in that extra time? Obviously, the big takeaway is we are seriously considering home schooling next year.”

  216. @9/11 inside job

    Oh yeah, if I get a vaccine, it will be in Moscow from a Russian vaccine. I am not categorically opposed to vaccination, but I certainly don’t trust any NATO country to offer me one anymore – Gates gets scarier with every article I read on him!!

    This thing sends a lot of people to the ICU, it is a little different from the flu for that reason imo. It is only worth quarantining the old and the high risk – people with chronic conditions – so not the majority of human capital.

    That was a herd behaviour level panic, and stupid. Well, at best – but really it is a craven excuse by our autocratic ‘representatives’ to blame the necessary economic reshuffle on this force majeure.

    Luckily, even a decent chunk of my SJW friends are now suspicious of the state and its actions.. most are not yet at ‘breaking of the glass’ moment, but they sure as hell aren’t calling me a Nazi anymore for calling out government policy! 😀 (hopefully this is the case for the rest of the Western world, we need a movement against our ‘representatives’!)

  217. Poco says:
    @RadicalCenter

    I’m somewhat skeptical that people receiving a UBI will be willing to work on construction projects.

  218. @The Grim Joker

    You may be a fine fellow in person but you are coming across like a pompous blowhard. Firstly, anyone could find the answers to all of your questions about urban warfare in a 20 page manual written for new lieutenants. Secondly, this isn’t going to be like some Mad Max urban warfare blockbuster movie scenario. Blocking off and manning your neighborhood street with a small squad of dudes with rifles is plenty to discourage opportunistic looters in the event of civil disorder.

    The vast majority of Americans, even ghetto dwellers, have no desire or ability to switch into Orc Horde mode. In the event of economic collapse, swarms of lone pathetic beggers is far more likely. Most Americans would respond with donations to soup kitchens and increased personal generosity.

    There is 0% chance that the power and water is going to be allowed to fail. Imagining how that would be allowed to happen is to venture into pure ignorant misanthropic fantasy.

    You do realize there are thousands of people in your city, county, and state whose sole job and professional responsibility is to keep the water and power flowing, right? Not to mention thousands of heavily armed law enforcement officers who would assist them in the performance of that crucial function? And you are calling someone else dumb naive and ignorant? Please just stop. You are out of your league. Go back to your game console.

    • Agree: Mefobills
    • Replies: @The Grim Joker
    , @Mefobills
  219. @Jedi Night

    Who would have thought just a few weeks ago that the entire world would shut down ? Who would have thought just a few weeks ago millions would be unemployed ? Look at the riots we have had in the US , Watts, South Central etc. The Police were unable to cope. Do YOU really believe they will be able to if the entire country explodes ? I dont think so. And the thousands of people whose sole responsibility is to keep water and power flowing will be looking after themselves and families and nowhere in sight. Keep the New Orleans scenario in mind where I would like to remind you, if I remember correctly , Blackwater operatives had to be brought in to that city. In South Central LA ? Check out the action on the streets and those shop keepers who had to arm themselves to protect their stores. In New Orleans when the disaster struck our illustrious President Bush sat on his hands. Where were all those devoted civil servants who are paid to look out for us. Also, will you be one of those generous Americans who will give you food to the poor ? You believe what you want but you delude yourself about human nature ! The ghetto boys dont need a catastrophe to run wild, they do it now. You are dumb and naive as well ! Dream on !

  220. Dear Delusional Jedi,

    Yes Oh Wise One, referring the Joker’s comment here are some relevant notes from the Katrina disaster in New Orleans

    There were corpses floating in the blackened floodwaters or baking in the sun on abandoned highways. Government ineptitude at the local, state and federal level was evident from the beginning and the situation evolved into a crisis subsequently exploited in every way possible for political and financial gain. What took place in this devastated American city was no less than a war,It started immediately after the storm and flood hit, when civilian aid was scarce but private security forces already had boots on the ground as local Police and later the National Guard seemed unable to cope. Blackwater (which has since redubbed itself Xe), were under federal contract, while a host of others answered to wealthy residents and businessmen who had departed well before Katrina and needed help protecting their property from the suffering masses left behind. Blackwater set up an HQ in downtown New Orleans. Armed as they would be in Iraq, with automatic rifles, guns strapped to legs, and pockets overflowing with ammo, Blackwater contractors drove around in SUVs and unmarked cars with no license plates. Although the government’s aid efforts were in chaos, those involved in the self-generated community rescue and relief efforts were often seen as a threat in spite of the fact that government at all levels contributed very little or nothing at all to alleviate the suffering of the ordinary citizens. Ultimately, the goals of all these security forces was to protect the interests of the wealthy elite with no consideration for the ordinary citizen.

    That Jedi, was the experience of just one US city. Did New Orleans have devoted civil servants tending to the water supply, electricity and gas? And if law enforcement and the national guard was so on the ball why were all those other private security forces needed. What would happen if it were all US cities? You tell us Jedi Night ! Nothing wrong with you challenging a comment but get your head out of the clouds and come down to earth. You may be a fine fellow but you come across as a complete idiot and simpleton.

    Oh, and it should be KNIGHT not NIGHT. Please learn to spell !

    • Replies: @Mefobills
  221. antibeast says:
    @Mefobills

    In the U.S., the debt is rapidly being consolidated onto the FED’s balance sheet. The FED in turn rebates interest uptake to Treasury. Once the debt is sequestered, then it can be erased or no longer serviced.

    I think you’re mistaken here because the Fed is a privately-owned Central Bank. The Fed buying up US Treasuries does not erase US public debt but merely injects US public debt to the asset-side of the Fed’s balance sheet while ejecting Central Bank cash to the US government. It’s still a form of debt-based money-creation using US Treasuries as the collateral with the US government borrowing from the Fed instead of borrowing from domestic or foreign investors.

    The REPO market works similarly with US banks “loaning” their US Treasuries to the Fed in exchange for Central Bank cash. They’re technically “loaning” them because they sell their US Treasuries on the condition that they buy them back with Repurchase Contracts (REPOs).

    These two cases happen in response to a liquidity squeeze with either the US government or US banks needing Central Bank cash.

    • Replies: @Mefobills
  222. antibeast says:
    @Paul from the Netherlands

    The debt is not a problem to worry about! A better understanding starts with recognizing the fact that a state that issues its own currency in no way resembles a household. Where a household has to match its expenditures with its income, a currency issuing government faces no such limitation.

    The US Government does not have the legal authority to issue its own currency nor to control its own money supply because the US Federal Reserve System is a privately-owned Central Bank. The only thing the US Government can do is to issue US Treasuries which becomes part of the US Public Debt. If the US Government owns the US Federal Reserve System, then the Fed as a State-owned Central Bank would allow the US Government to print its own currency and control its own money supply.

  223. Mike Whitney has no business writing on this topic. Consider this sentence:

    “In fact, it took less than a week to get the pushover congress to ram through a massive $2.2 trillion boondoggle without even one lousy congressman offering a peep of protest. That’s got to be some kind of record.”

    This is just gross ignorance of easily obtained facts. Congressman Thomas Massie of Kentucky was stridently opposed to the bill and was loudly scolded in the media for obstructing it. During the 4 hour debate Massie was denied a chance to speak. When it was time for the voice-vote, Massie demanded a recorded vote so that those who voted for the bill could later be called to account. Massie had previously announced his intention to do this so that congressmen would have time to go to Washington. Massie’s demand for a recorded vote was thwarted by a voice vote and the bill was passed by another voice-vote. Massie’s objections were a) constitutional, and b) he considered the bill a massive transfer of wealth from the ordinary taxpayers to the Wall Street banks.

    Whitney might consider researching his articles once in a while.

  224. Rubaiyat says:
    @cortesar

    “working to pay debts”

    No one is stupid enough to think they need to pay of debt anymore. Usurers and those who benefit from interest get the guillotine from now on.

  225. profnasty says:
    @cortesar

    Hell in a Bucket, by Grateful Dead seems appropriate. But for the thinking man, (you mentioned fighting clowns?), see Fighting Clowns by Firesign Theater.
    Apropos of nothing.

  226. profnasty says:
    @FB

    Roosevelt? Slowly I turn…..
    Because of that little WWII thingy.
    But his uncle Ted had nothing to do with WWI. What…? DOH!!?!?!!!

    • Replies: @Hibernian
  227. @The Grim Joker

    In the event of a nuclear weapons exchange in the Northern hemisphere I would think that Patagonia would not be too bad a place to be, especially if preparations had been made in advance to provide for necessities and comforts. I too have noticed reports of Israeli construction activity there.

  228. Mefobills says:
    @Jedi Night

    There is 0% chance that the power and water is going to be allowed to fail. Imagining how that would be allowed to happen is to venture into pure ignorant misanthropic fantasy.

    Well, his handle is “The Grim Joker.” Perhaps that is a clue.

    The only way power and water is going down, is if it is blown up in war. A pandemic, or economic depression, leaves infrastructure intact.

    Also, the link I provided was real world experience in Argentina, where “banding together in neighborhoods, was effective.”

    Or, as you state, the 20 page manual is available to be read if you are honest.

    I’m always amazed when people ignore real data, and retreat into their fantasy life, as if fantasy is more real to them. Something wrong with their brain function methinks. Histrionics is for women and little girls.

  229. Mefobills says:
    @antibeast

    I think you’re mistaken here because the Fed is a privately-owned Central Bank.

    Yes, the FED is private, but it also has to work with U.S. government, and will bend to the knee if forced to. If they don’t their charter could be yanked. My point is that a lot of Tbills, MBS, and other paper is finding its way to the FED’s balance sheet. I am not incorrect on this.

    You should read the totality of my comments here at Unz and tell me again how I am mistaken.

    I know exactly how the FED is incorporated and also that it rebates interest earned.

    This exact event for rebates happened because of the Texas Congressman Wright Pattman, who sniffed out the game. Please refer to that history.

    You are correct otherwise with how TBills become an asset on the FED’s ledger, and their dollars are Fed’s liability.

    New TBills have to go into the secondary market first, and the FED uptakes “used” TBills. This is done by law.

    A way to think of it is that when the FED takes up Tbills then a “hole” is left in the money supply, so that new deficit spending replaces that which was transferred to FED’s balance sheet. The composition of money supply is more debt and more money.

    Again, by law, the FED cannot directly monetize new TBills, but they do find their way to the balance sheet via private bank reserve loops.

    • Replies: @antibeast
  230. Mefobills says:
    @calculator

    That Jedi, was the experience of just one US city. Did New Orleans have devoted civil servants tending to the water supply, electricity and gas?

    Calculator is back! We are graced with his wisdom. Not.

    I did mention that if you are near a negro zone, then you should flee.

    Is not New Orleans a negro zone? During the floods in New Orleans, even Negro cops were looting.

    In a pandemic or economic collapse, most CIVILIZED people will band together and work out cooperative arrangements.

    A neighborhood patrol can even register with local sheriff and police, so there is a working relationship done in advance.

    Also, you give yourself away when you attack a person for their spelling, as if to gain some sort of superiority.. It is juvenile and laughable.

    Go back to your game console.

  231. antibeast says:
    @Mefobills

    Yes, the FED is private, but it also has to work with U.S. government, and will bend to the knee if forced to. If they don’t their charter could be yanked. My point is that a lot of Tbills, MBS, and other paper is finding its way to the FED’s balance sheet. I am not incorrect on this.

    The Fed is NOT a government agency and is completely independent of the US Federal Government. Most US citizens think the Fed is some kind of US government entity. It is not.

    I know exactly how the FED is incorporated and also that it rebates interest earned.This exact event for rebates happened because of the Texas Congressman Wright Pattman, who sniffed out the game. Please refer to that history.

    Yes, I know that. But that doesn’t make the Fed a US government agency. Alan Greenspan admitted this in an interview.

    You are correct otherwise with how TBills become an asset on the FED’s ledger, and their dollars are Fed’s liability.

    What I meant is that the Fed can not monetize the TBills but instead treat it as “collateral” to loan out Fed money to the US government.

    New TBills have to go into the secondary market first, and the FED uptakes “used” TBills. This is done by law.

    Yes, the US government issues TBills which are bought by US banks and then “resold” to the Fed as part of its QE program.

    A way to think of it is that when the FED takes up Tbills then a “hole” is left in the money supply, so that new deficit spending replaces that which was transferred to FED’s balance sheet. The composition of money supply is more debt and more money.

    It’s another way of expanding money supply via more government debt.

    Again, by law, the FED cannot directly monetize new TBills, but they do find their way to the balance sheet via private bank reserve loops.

    See above.

    • Replies: @Mefobills
  232. BAP says:

    That was the whole point of “Event 201”: liquidate assets, collapse the economy, force everybody into bankruptcy and debt then give loans and buy the entire planet with a huge discount. Exactly the same script used both before, during and after both World Wars.
    Another similar characteristic is the takeover of the government over society and the economy, which had disastrous results in the long term.

  233. Hibernian says:
    @profnasty

    Teddy banged the drums for war and he had influence as a widely admired former President.

  234. Mefobills says:
    @antibeast

    Yes, I know that. But that doesn’t make the Fed a US government agency. Alan Greenspan admitted this in an interview.

    We mostly agree.

    FED is not a government agency. It doesn’t list its phone number under government, its people do not receive government pensions.

    But, it did come into existence by an act of Congress, and it can be disbanded. It also depends on taxes for its FRN’s to have value.

    So, it is this weird sort of construct, which is private but has some connections to government. I always say debtor is below creditor, so I would put government down low in this relationship.

    There is also the sneaky election of FED chairmen outside of political sequence.

    And of course, there is fraud in the name “Federal” in order to confuse.

    • Replies: @antibeast
  235. antibeast says:
    @Mefobills

    We mostly agree.

    Except for your claim below (in bold):

    In the U.S., the debt is rapidly being consolidated onto the FED’s balance sheet. The FED in turn rebates interest uptake to Treasury. Once the debt is sequestered, then it can be erased or no longer serviced.

    The Tbills are not “erased” nor “no longer serviced” because they still remain on the balance sheet of the US government as public debt. The pause in paying interest on the sequestered Tbills is only temporary which would resume after the Fed resells them to creditors. For example, Powell started the QT program to resell the Tbills sequestered under Bernanke’s QE program which implies the resumption of interest payments (or debt service) on those public debts held by new creditors.

    FED is not a government agency. It doesn’t list its phone number under government, its people do not receive government pensions.

    Correct. The Board of Governors and the Chairman of the Fed are employees of a privately-owned bank but appointed by the President and confirmed by the US Senate. The Chairman also report to the US Congress twice-a-year on the operations of the Fed.

    But, it did come into existence by an act of Congress, and it can be disbanded. It also depends on taxes for its FRN’s to have value.

    Yes. But that would imply opposing the Capitalist Owners of the Fed who are the Oligarchic Rulers of America.

    So, it is this weird sort of construct, which is private but has some connections to government. I always say debtor is below creditor, so I would put government down low in this relationship.

    The Fed is the Central Bank of the USA with the sole and exclusive right to 1) print money and 2) control the money supply of the USA. All Central Banks are like that except that the US Fed is a privately-owned Central Bank whose charter was granted by an act of the US government. This has happened before in England with the creation of the Bank of England in 1694. Nothing weird about it. In fact, this is quite common in Western Capitalist countries because that’s the very essence of Classical Liberal (“Free Market”) Capitalism: the private ownership and control of Capital.

    There is also the sneaky election of FED chairmen outside of political sequence.

    The Fed Chairman is nominated by the President among the Board of Governors before being confirmed by the US Senate. Same process with the Board of Governors. There is no “election” per se but a selection process among candidates to the Board of Governors.

    And of course, there is fraud in the name “Federal” in order to confuse.

    Yes, I agree. People get confused by the word “Federal” and assume that the Fed must be a US Federal government agency which allows the US Federal Government to print its own money and control its own money supply. The only thing the US Federal Government can do is to issue public debt which is made payable by taxation on US citizen-taxpayers.

  236. Mefobills says:

    The Tbills are not “erased” nor “no longer serviced” because they still remain on the balance sheet of the US government as public debt. The pause in paying interest on the sequestered Tbills is only temporary which would resume after the Fed resells them to creditors. For example, Powell started the QT program to resell the Tbills sequestered under Bernanke’s QE program which implies the resumption of interest payments (or debt service) on those public debts held by new creditors

    That’s true, they are not erased, but they could be … and it would take a change in the law. This is why I mentioned the Chinese state banks.

    If TBills stay on the ledger and do not claim interest, they are simply ink on paper… or phantom digits, making no claims. If you rebate the interest, especially all of it, TBill interest claim on the money supply is being respent. You can argue that this is sneaky – which it is.

    Since the Tbills are held by the FED, and any interest has to go to the U.S. Treasury, then FED is not entirely private and not completely self serving… there are some lines of connection to the Treasury and hence the government.

    FED reselling TBills back into the money supply, would contract said money supply. This sort of power to contract or inflate the money supply is in private hands and does not necessarily work for the common weal.

    Re-selling existing TBills contracts the money supply, if no hypothecation is done. If the shadow banking system grabs the Tbill, they can do some tricks to make said TBill as the basis of their loans, to then create new creditors.

    The “selection” process for board of governors is “out of cycle” with the political election cycle. This was done on purpose to my mind, to keep the FED out of the public eye and hence hiding in plain sight. Election is not a precise term… you are right.

    The Bank of England in 1694. Nothing weird about it. In fact, this is quite common in Western Capitalist countries because that’s the very essence of Classical Liberal (“Free Market”) Capitalism: the private ownership and control of Capital.

    Good job. Hammer hits nail on the head. The BOE was the first debt spreading stock owned bank to put a country into public debts. Politicians then become subordinate to money power “private ownership of capital.” This construct then took over enforcing contracts for British East India company. Prior this East India company had its own mercenary army and secret service. So, the evolution was corporate banking debt spreading at debt and usury, and then cross links to a trading/merchant company via stock ownership. England itself became one large operation for extracting minerals, moving things about by ship, and taking arbitrage on international cheap labor, and making increment of production for finished goods in England. Free market finance capitalism comes into being post 1694. It now has new names, such as Classical Liberal Capitalism, finance capitalism, globo-homo, ZOG, Bizwog (Britain, Israel World Government).

    An earlier run of this type of system happened during Levantine times, which put Greek’s into debt, and ultimately led to Solon’s reforms. And if anybody is wondering, it was also our (((friends))) running their schemes then as well. The Greek period was Jews using clay tablets for “international debts” payable in silver. Goods moved about by ships in the Mediterranean. If you couldn’t pay the debts, you had to forfeit your life to the silver mines or to others. So many Greeks were enslaved by this, the slave “houses” faced outward to the ocean, so the slaves could be picked up by ship and transported elsewhere to benefit the Internationals of that era.

  237. Mefobills says:
    @Mefobills

    Shadow banking using TBills makes the Shadow Banks as Creditors, and those who took out the loans as new debtors.

  238. Patagonia Man [AKA "PTG Mann"] says:

    A nation that is monetary sovereign i.e., issues its own currency cannot be “in debt”. Sadly for the American people, their treasonous government handed over control of the US money supply to a consortium of banks in the Federal Reserve Act (1913).

    This is the best explanation I’m aware of. America Freedom to Fascism by Aaron Russo (1:49:17)

  239. antibeast says:
    @Mefobills

    That’s true, they are not erased, but they could be … and it would take a change in the law. This is why I mentioned the Chinese state banks.

    That’s the neat trick being pulled by the Fed’s QE program. The US public thinks their public debt in the form of T-bills are being “erased” but they’re not. The latest Trump Corona bailout has the Fed agreeing to buy private debt such as MBS, junk bonds, etc. which is predicated on guarantees made by the US government to assume liability if those private debt defaults, similar to credit default swaps in Wall Street.

    If TBills stay on the ledger and do not claim interest, they are simply ink on paper… or phantom digits, making no claims. If you rebate the interest, especially all of it, TBill interest claim on the money supply is being respent. You can argue that this is sneaky – which it is.

    I agree. That neat trick deceives the US public into thinking the Fed is “erasing” the public debt of the US government as you incorrectly assumed in your earlier post.

    Since the Tbills are held by the FED, and any interest has to go to the U.S. Treasury, then FED is not entirely private and not completely self serving… there are some lines of connection to the Treasury and hence the government.

    Again, I repeat my earlier comment that this neat trick deceives the US public into thinking the Fed as some kind of government agency serving the public. Even members of the US Congress don’t know that the Fed is a privately-owned bank because the Fed Chairman reports to the US Congress twice-a-year.

    FED reselling TBills back into the money supply, would contract said money supply. This sort of power to contract or inflate the money supply is in private hands and does not necessarily work for the common weal. Re-selling existing TBills contracts the money supply, if no hypothecation is done. If the shadow banking system grabs the Tbill, they can do some tricks to make said TBill as the basis of their loans, to then create new creditors.

    Bernanke’s QE program had the Fed “sequester” T-bills in order to increase money supply while Powell’s QT program had the Fed “release” T-bills in order to contract money supply. Once those T-bills flow into the banking/financial system, they can be hypothecated 10-to-1 via fractional banking or 100-to-1 via financial derivatives.

    The “selection” process for board of governors is “out of cycle” with the political election cycle. This was done on purpose to my mind, to keep the FED out of the public eye and hence hiding in plain sight. Election is not a precise term… you are right.

    The “selection” process is hidden from the public but the nomination process (by the US President) and confirmation process (by the US Senate) is “staged” to appease the US public. In other words, it’s just for show.

  240. antibeast says:
    @Mefobills

    Good job. Hammer hits nail on the head. The BOE was the first debt spreading stock owned bank to put a country into public debts. Politicians then become subordinate to money power “private ownership of capital.” This construct then took over enforcing contracts for British East India company. Prior this East India company had its own mercenary army and secret service. So, the evolution was corporate banking debt spreading at debt and usury, and then cross links to a trading/merchant company via stock ownership. England itself became one large operation for extracting minerals, moving things about by ship, and taking arbitrage on international cheap labor, and making increment of production for finished goods in England. Free market finance capitalism comes into being post 1694. It now has new names, such as Classical Liberal Capitalism, finance capitalism, globo-homo, ZOG, Bizwog (Britain, Israel World Government).

    The BOE was the first privately-owned Central Bank although there have been State-owned Central Banks before with China being the world’s first during the Qin Dynasty. Before British East India, the world’s first privately-owned joint-stock corporation was the Dutch East India Company whose shares were traded in the world’s first privately-owned stock exchange in Amsterdam. Before then, Italian merchants formed family-owned private enterprises in Florence, Venice and Genoa during the Italian Renaissance while German merchants formed family-owned social enterprises in Northern Europe during the Hanseatic League. The private banks established by Italian merchants such as the Medicis would issue their own “money” in the form of promissory notes backed by bank deposits in the form of gold. But the BOE changed all that because it was now a State-chartered but privately-owned Central Bank with the sole and exclusive right to print its own “money” as the legal tender in England. That’s how the private banking/finance industry moved from Amsterdam to the City of London which became the founding capital of Western Capitalism in the same way that the Italian City-States such as Florence, Venice and Genoa ushered in Western Mercantilism. During this time, Adam Smith and David Ricardo defined what is now known as Classical Liberal “Free Market” Economics which extolled the virtues of the private ownership and control of Capital in a “Free Market”.

    An earlier run of this type of system happened during Levantine times, which put Greek’s into debt, and ultimately led to Solon’s reforms. And if anybody is wondering, it was also our (((friends))) running their schemes then as well. The Greek period was Jews using clay tablets for “international debts” payable in silver. Goods moved about by ships in the Mediterranean. If you couldn’t pay the debts, you had to forfeit your life to the silver mines or to others. So many Greeks were enslaved by this, the slave “houses” faced outward to the ocean, so the slaves could be picked up by ship and transported elsewhere to benefit the Internationals of that era.

    Slavery has always been practiced by the Semites from the time of the Egyptian, Sumerian, Assyrian, Babylonian Empires to the Arabic Caliphates, and so did the Greeks and Romans despite their professed ideal of “democracy”. In fact, slavery was institutionalized in the Greek city-states as well as in the Roman Empire which turned the slave trade into a major part of the Roman economy in the Mediterranean World.

  241. @Mefobills

    Consistently here you’ve demonstrated unprecedented-to-this-reader’s-experience knowledge and insight on finance generally and the Jew’s wrongful treachery shell game trickery gimmicks within that “discipline” particularly.

    Now reaching further into the past than your prior mentions here of (((their))) post 1492 funding from Amsterdam of “revised” bible printings, you now recite factual historical details which make sense of the Foreward to L. Fry’s Waters Flowing Eastward (1933), a vitally necessary to heed volume for the survival of the West wherein she speaks of Western Civilization growing westward from Greece to Rome, etc., and eventually to America building ever better cities and cultures, but then going against that progress is “an undercurrent” regressing back eastward toward the time and culture of master and slave:

    An earlier run of this type of system happened during Levantine times, which put Greek’s into debt, and ultimately led to Solon’s reforms. And if anybody is wondering, it was also our (((friends))) running their schemes then as well. The Greek period was Jews using clay tablets for “international debts” payable in silver. Goods moved about by ships in the Mediterranean. If you couldn’t pay the debts, you had to forfeit your life to the silver mines or to others. So many Greeks were enslaved by this, the slave “houses” faced outward to the ocean, so the slaves could be picked up by ship and transported elsewhere to benefit the Internationals of that era.

    L. Fry was the pen name of a woman born a US citizen and widow of a high ranking Russian military officer who had first hand knowledgeable of the true path by which the document titled The Protocols of the Learned Elders of Zion originated as it purports as an internal source document relative to the first world Jewry summit of the late 19th Century sold clandestinely to Russian authorities for, believe it or not, a fee. The Waters Flowing Eastward hardcopy publication is now very rare and often in tatters in the possession of the few libraries still holding it, Jews having gained control of libraries of the West just as they have manned every other bottleneck of our culture. Because the book is subject to copyright laws it has not been preserved online like other necessary-to-historical-truth volumes which predate copyrights like William Hannibal Thomas’ The American Negro and Hinton Rowan Helper’s Negroes in Negroland both of which have been cyber preserved and can be easily found and read free online.

    Waters Flowing Eastward is a key although fragile source today because as long as it can still be read there is the hope that two of the West’s greatest living leadership intellects, Drs. Kevin MacDonald and David Duke, will learn that they have been duped by the Jews into accepting the deception that has each of the two labeling The Protocols as symbolic literature but not authentically what it purports to be.

    L. Fry shows the deceit of that Jew lie irrefutable convincing her reader that The Protocols of The Learned Elders of Zion are authentically just as appears, as Henry Ford always concluded.

    • Thanks: Mefobills
  242. jkb says:
    @Achmed E. Newman

    https://www.greenmedinfo.com/blog/does-2019-coronavirus-exist

    It’s a very good reading. It analyzes the research paper of the “virus” including the one from China and also the Covid19 cases, including those that tested positive without any contact with Covid19-positive people nor having been to coronavirus places.

  243. jkb says:
    @Robert White

    “nCorona virus is an intentionally released bioweapon that was designed to reek havoc worldwide…..”

    This bio-weapon thing reminds me of Obama’s birth certificate. That birth certificate did put people against each other, and Americans were further divided. The “bio-weapon” and others like its death rate, imo, serve the same purpose.

  244. jkb says:
    @Johnny Walker Read

    Many times I wondered why journalists seemed to not research this corona case. Didn’t they see the unusual things about this coronavirus? The hypes? The changing narratives? The scare-mongering? Etc? Were they that gullible? Personally, I decided that something was undoubtedly wrong when the news said China had made the tester for the virus in ONE week after it was “detected.”

    Then days and days of searching led me to the research papers from China in which it was mentioned that the “virus” had not been proved as the cause of the disease. In fact, it was even mentioned that the existence of the virus had not been established. They were in the process of getting it proven. So, in short, the research papers did not say that the Sars-Cov-2 did exist, that it caused the disease then named Covid-19. Frankly, I don’t know what kind of researh papers it was. And I’m not any scientist than the common people walking down the streets.

    Last thing, it’s amazing to see journalists still pushing the official Covid-1984 narratives. Especially here @unz. At this hour.

  245. jkb says:
    @Priss Factor

    Or maybe it was what they wanted: to destroy the economy and impoverish everyone?

  246. jkb says:
    @Katie B.

    Funny. This article no longer exists. What happened to globalresearch?

  247. @WhatAboutTheFix

    The Federal Reserve is a federal agency, not a private concern.

    “Federal,” as in federal. Who’d a thunk it?

    • Replies: @antibeast
  248. Amanda says:

    What are we supposed to do about what’s coming? I fear that we are headed for an economic collapse, hyperinflation, and collapse of the currency, and that this is when the central bankers are going to impose their new digital financial system which will enslave us. How can we resist this system and get Congress to take back the control of the currency from the private central bankers?

    Former World Bank economist, Peter Koenig, warns about this digital system and Agenda ID2020 here:

    https://www.globalresearch.ca/coronavirus-causes-effects-real-danger-agenda-id2020/5706153 (please read entire article)

    “Another hypothesis, at this point only a hypothesis, but a realistic one, is that along with the vaccination – if not with this one, then possibly with a later one, a nano-chip may be injected, unknown to the person being vaccinated. The chip may be remotely charged with all your personal data, including bank accounts – digital money. Yes, digital money that’s what “they” are aiming at, so you really have no control any more over your health and other intimate data, but also over your earnings and spending. Your money could be blocked, or taken away – as a ‘sanction’ for misbehavior, for swimming against the stream. You may become a mere slave of the masters. Comparatively, feudalism may appear like a walk in the park.”

    Lynnette Zang warns about this system here:

    Lynette Zang: Bankers’ New SDR Crypto Blockchain Will Enslave Humanity (video)
    https://thedailycoin.org/2017/08/10/lynette-zang-bankers-new-sdr-crypto-blockchain-will-enslave-humanity-video/

    The new Chinese-created ACChain crypto currency blockchain will be the SDR-related world currency that will allow the international banking elite to digitize every tangible asset on earth, and they will then exert total control over all of it. Lynette Zang explains: “The goal is to capture your wealth, and when the say this is the LAST wealth transfer mechanism they mean it because they want it all. All of it.”

    Intel Software designer Brad peters takes it one step further, saying: “If a global crypto coin controlled by the Bank For International Settlements (BIS) comes to internationalize PROPERTY onto their crypto blockchain, they get their one world government and one world currency all in the same stroke. This IS your 1988 (2018 prediction) Economist magazine cover.” (https://bitcoin.eu/1988-economist-magazine-prediction-come-true/)

    Should we be writing letters to congress? How do we wake up our fellow citizens to what’s happening with the financial system and what the central bankers are planning for us? How to we wake up our fellow citizens when they don’t even understand central banking and how these bankers are the true enemy of humanity? Does anyone have any ideas about this? It seems like our only chance to fight this is if everyone wakes up to the agenda and demands that Congress take back control of creation of the national currency. Does anyone else even care about this, or is everyone just willing to be digital slaves?

    • Replies: @Miro23
  249. @Miro23

    That all makes perfect sense for a physically and emotionally healthy life. Thank you —

  250. antibeast says:
    @Nicholas Stix

    The Federal Reserve is a federal agency, not a private concern.

    The US Federal Reserve System is a Fake Reserve Scheme that has nothing to do with the US Federal Government, does not have any reserves and is nothing more than a fake money pyramid scheme.

    • Replies: @james charles
  251. Miro23 says:
    @Amanda

    The chip may be remotely charged with all your personal data, including bank accounts – digital money. Yes, digital money that’s what “they” are aiming at, so you really have no control any more over your health and other intimate data, but also over your earnings and spending. Your money could be blocked, or taken away – as a ‘sanction’ for misbehavior, for swimming against the stream.

    This was the theme of the excellent film “In Time” with Amanda Seyfried and Justin Timberlake. One of the few films that I enjoy watching again (seen it 3-4 times).

  252. @FB

    Yeah, FDR was great for the country, except for the 400,00 dead Americans in the war FDR could EASILY have avoided.

    And let’s not count the cold war and Stalin’s rule that followed, yeah he set up that world with his immoral alliances and decisions. Nazis vs. Commies, let’s choose….because…?

    Oh, and FDR wasn’t great for the economy either, America should have quickly rebounded from the “depression”, as in previous instances, but it didn’t. Because, well, Roosevelt.

    The neat thing about this article; the contemporary addition to the debt is easily matched by Roosevelt’s own contribution, the untenable and pointless social security system.

    Finally, if we could get his dumb mug off the dime perhaps we could return to a time when Americans weren’t forced to look at stupid politicians on the silver(less) money and we had beautiful money that had actual value, something Roosevelt feared.

    Jimmy Carter was an enormously better president than FDR, far more moral and far less harmful to the America and the world.

  253. @Kim

    “A barrel of conventional crude oil contains the equivalent of roughly 4.5 years of continuous human labour; or around 11 years at 35 hours per week, 48 weeks of the year.  But the capitalist doesn’t pay for the value of the fuel, merely the cost of extracting it.  For a mere £49 (at pre-pandemic prices) the capitalist purchases £330,000 worth of work (at the current UK median wage).  It is the exploitation of fossil fuels rather than the exploitation of labour which generates the vast majority of the surplus value in an industrial economy. . . .

    As Nicole Foss once put it – if conventional oil was like drinking draught beer from a glass, fracking was the equivalent of sucking the spilled dregs from the carpet.”

    https://consciousnessofsheep.co.uk/2020/05/26/two-money-tricks/?fbclid=IwAR1rOz0jexO2dIIldSlseh-8-EqES4oYZcBTvHMtW-JyBgMHB6xgfOOsbBI

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