Interesting video from Prof J Farrell here, where he notes that Germany is starting to push back against the rights of the ECB to initiate QE, by a 7-1 vote in the German Constitutional Court. Incidentally, QE1 was the reason I started this blog, in 2008, as I realised that we had just gone off the deep end of alchemy in the financial world, taking into account EROI, etc.
https://gizadeathstar.com/2020/05/news-and-views-from-the-nefarium-may-14-2020/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+GizaDeathStar+%28Giza+Death+Star%29
This segues quite nicely into the interview with Jim Sinclair that I posted a few days ago, where he talked about debt jubilees. (Demand Destruction).
My personal opinion is that using the perennial Hegelian dialectic they (who shall not be named for the moment, but we have the names, just getting the addresses) can turn this whole 'global pandemic' farce around within a few months - maybe years if they really want to depopulate us - and we'll set off on another hundred years of usury, whilst they disappear back into the shadows.
They said as much on their website!
Think blockchain and satellites...
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Unlike ancient Babylon, we can't have debt jubilees to balance the books because today most money is created as debt so almost everyone would go broke.
ReplyDeleteThe only other way to balance the account is to increase the value of the asset side of the balance sheet (instead of decreasing liabilities by defaulting in a "debt jubilee"). So the next currency system will have a revaluation up of select assets that central banks own. Think gold, silver, copper, oil, etc, and maybe even bitcoin to take the price pressure off of agricultural commodities.
...'tis as I suspected, alors! I suppose that this 're-evaluating' of assets is not illegal, even though they came by most of these assets via very dubious means, to put it mildly?
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