The Irish Savant : The productivity paradox

The productivity paradox

The Irish Savant

http://irishsavant.blogspot.com/2020/02/the-productivity-paradox.html

Friday, 7 February 2020

The productivity gains over the last fifty years from information technology, robotics and the 'free' internet have been staggering. It costs today but a fraction of what it used to to produce goods and services. The time and manpower (sorry, personpower) costs of processing an ordinary business transaction, be it bank loan, insurance quotation or invoice payment have been reduced by at least 80% since the fifties. The declines have been even greater in factory production, with many facilities reduced to people-free zones operating 24x7x365 through the use of robotics. Simulation technologies have achieved similar reductions in the time and cost of design and testing.  Farm automation and the Green Revolution have transformed the production of food. And to round off the cost of borrowing has shown a dramatic decline in recent years.

So why aren't we living like stereotypical Frenchmen working 3-hour days and taking four months holidays annually while women luxuriate at home painting their nails with dirt-cheap modern conveniences doing all the work? Au contraire, we're working harder than ever while the stay-at-home mother has now become a derided rarity. And on balance for less reward. Zero Hedge say that "A new report sheds light on [the fact that] 53 million Americans, or about 44% of all US workers, aged 18 to 64, are considered low-wage and low-skilled. Many of these folks are stuck in the gig economy, making approximately $10.22 per hour, and they bring home less than $20,000 per year. An overwhelmingly large percentage of these folks have insurmountable debts. Their wages don't cover their debt servicing payments as their lives will be left in financial ruin after the next recession."

Despite pre-fabricated robot-produced building components and architectural design automation tools house costs today represent a vastly higher proportion of take-home pay than they used to. In Britain this ratio has doubled in just twenty years from four to eight. Little surprise then that the proportion of 25-34 year-old who own their own house has collapsed from 67% in 1991 to 38% in 2016. Despite this more people are working, for longer hours and with less job security. The inflation-adjusted wages of working class Americans is lower today than it was 40 years ago.

Back in the fifties it seemed that most people lived reasonably comfortable lives, the husband worked in a steady usually-unionised job while the wife was a stay-at-home mother. For sure very few people lived in luxury but most owned their home, had one modest car, owned a phone and TV and went on a modest holiday once a year. And this was an economic environment where the norm was to have large families dependent on a single bread-winner. Still, people lived ok.

So why hasn't the spectacular increase in production resulted in everyone rolling in wealth and indolence instead of struggling even to own a house? I don't know but I offer the following as contributory causes:

Wealth is trickling up. A report in Bloomberg claims that the wealth of the top 1% now exceeds that of everyone else combined. The financialisation of the economy must play a major role in this with the extra wealth created by increased productivity and the money magicked up by the central banks being siphoned off by financial speculators. While vast fortunes can be made little or nothing is added to the wealth or lifestyles of ordinary citizens.

Then there's the black/brown/Muslim undertow as White numbers decline in relative terms. These minorities are less productive, commit more crime, have bigger families and are more dependent on welfare. Their rapidly-increasing numbers add to the pressure on housing and healthcare provision. And the affirmative action racket results in a vast army of incompetent leeches draining wealth from productive Whites.

That's my tuppence-worth, but I'm probably biased.

Any other ideas?

newdawnmagazine.comhttp://www.newdawnmagazine.com/articles/the-money-masters-behind-the-global-debt-crisis

The Money Masters: Behind the Global Debt Crisis

By ADRIAN SALBUCHI

—

In the US, we see untold millions suffering from the impact of mass foreclosures and unemployment; in Greece, Spain, Portugal, Ireland, and Italy, stringent austerity measures are imposed upon the whole population; all coupled with major banking collapses in Iceland, the UK and the US, and indecent bail-outs of “too-big-to-fail” bankers (Newspeak for too powerful to fail).

No doubt, the bulk of the responsibility for these debacles falls squarely on the shoulders of caretaker governments in these countries that are subordinated to Money Power interests and objectives. In country after country, that comes together with embedded corruption, particularly evident today in the UK, Italy and the US.

As we assess some of the key components of today’s Global Financial, Currency and Banking Model in this article, readers will hopefully get a better understanding as to why we are all in such a crisis, and that it will tend to get much worse in the months and years to come.

Foundations of a Failed and False Model

Hiding behind the mask of false “laws” allegedly governing “globalised markets and economies,” this Financial Model has allowed a small group of people to amass and wield huge and overwhelming power over markets, corporations, industries, governments and the global media. The irresponsible and criminal consequences of their actions are now clear for all to see.

The “Model” we will briefly describe, falls within the framework of a much vaster Global Power System that is grossly unjust and was conceived and designed from the lofty heights of private geopolitical and geo-economic¹ planning centres that function to promote the Global Power Elite’s agenda as they prepare their “New World Order” – again, Newspeak for a Coming World Government.²

Specifically, we are talking about key think tanks like the Council on Foreign Relations, the Trilateral Commission, theBilderberg Group, and other similar entities such as the Cato Institute (Monetary Issues), American Enterprise Instituteand the Project for a New American Century that conform an intricate, solid, tight and very powerful network, engineering and managing New World Order interests, goals and objectives.

Writing from the stance of an Argentine citizen, I admit we have some “advantages” over the citizens of industrialised countries as the US, UK, European Union, Japan or Australia, in that over the last few decades we have had direct experience of successive catastrophic national crises emanating from inflation, hyper-inflation, systemic banking collapse, currency revamps, sovereign debt bond mega-swaps, military coups and lost wars…

Finance vs the Economy

The Financial system (i.e., a basically unreal Virtual, symbolic and parasitic world), increasingly functions in a direction that is contrary to the interest of the Real Economy (i.e., the Real and concrete world of work, production, manufacturing, creativity, toil, effort and sacrifice done by real people). Over the past decades, Finance and the Economy have gone their totally separate and antagonistic ways, and no longer function in a healthy and balanced relationship that prioritises the Common Good of We the People. This huge conflict between the two can be seen, amongst other places, in today’s Financial and Economic System, whose main support lies in the Debt Paradigm, i.e., that nothing can be done unless you first have credit, financing and loans to do it. Thus, the Real Economy becomes dependent on and distorted by the objectives, interests and fluctuations ofVirtual Finance.³

Debt-Based System

The Real Economy should be financed with genuine funds; however with time, the Global Banking Elite succeeded in getting one Sovereign Nation-State after another to give up its inalienable function of supplying the correct quantity of National Currency as the primary financial instrument to finance the Real Economy. That requires decided action through Policies centred on promoting the Common Good of We The People in each country, and securing the National Interest against the perils posed by internal and external adversaries.

Thus, we can better understand why the financial “law” that requires central banks to always be totally “independent” of Government and the State has become a veritable dogma. This is just another way of ensuring that central banking should always be fully subordinated to the interests of the private banking over-world – both locally in each country, as well as globally.

We find this to prevail in all countries: Argentina, Brazil, Japan, Mexico, the European Union and in just about every other country that adopts so-called “Western” financial practice. Perhaps the best (or rather, the worst) example of this is the United States where the Federal Reserve System is a privately controlled institution outright, with around 97% of its shares being owned by the member banks themselves (admittedly, it does have a very special stock scheme), even though the bankers running “Fed” do everything they can to make it appear as if it is a “public” entity operated by Government, something that it is definitely not.

One of the Global Banking Over-world’s permanent goals is – and has been – to maintain full control over all central banks in just about every country, in order to be able to control their public currencies.⁴ This, in turn, allows them to impose a fundamental (for them) condition whereby there is never the right quantity of public currency to satisfy the true demand and needs of the Real Economy. That is when those very same private banks that control central banking come on scene to “satisfy the demand for money” of the Real Economy by artificially generating private bank money out of nothing. They call it “credits and loans” and offer to supply it to the Real Economy, but with an “added value” (for them): (a) they will charge interest for them (often at usury levels) and, (b) they will create most of that private bank money out of thin air through the fractional lending system.

At a Geo-economic level, this has also served to generate huge and unnecessary public sovereign debts in country after country all over the world. Argentina is a good example, whose Caretaker Governments are systematically ignorant and unwilling to use one of the sovereign state’s key powers: the issuance of high power non-interest generating Public Money (see below for a more detailed definition). Instead, Argentina has allowed IMF (International Monetary Fund) so-called “recipes” that reflect the global banking cartel’s own interests to be imposed upon it in fundamental matters like what are the proper functions of its Central Bank, sovereign debt, fiscal policy, and other monetary, banking and financial mechanisms, that are thus systematically used against the Common Good of the Argentine People and against the National Interest of the country.

This system and its dreadful results, now and in the past, are so similar in so many other countries – Brazil, Mexico, Greece, Ireland, Iceland, UK, Portugal, Spain, Italy, Indonesia, Hungary, Russia, Ukraine… that it can only reflect a well thought-out and engineered plan, emanating from the highest planning echelons of the Global Power Elite.

Fractional Bank Lending

This banking concept is in use throughout the world’s financial markets, and allows private banks to generate “virtual” Moneyout of thin air (i.e., scriptural annotations and electronic entries into current and savings accounts, and a vast array of lines of credit), in a ratio that is 8, 10, 30, 50 times or more larger than the actual amount of cash (i.e., public money) held by the bank in its vaults. In exchange for lending this private “money” created out of nothing, bankers collect interest, demand collateral with intrinsic value and if the debtor defaults they can then foreclose on their property or other assets.

The ratio that exists between the amount of Dollars or Pesos in its vaults and the amount of credit private banks generate is determined by the central banking authority which fixes the fractional lending leverage level (which is why controlling the central bank is so vital strategically for private banker cartels). This leverage level is a statistical reserve based on actuarial calculations of the portion of account holders who in normal time go to their banks or ATM machines to withdraw their money in cash (i.e., in public money notes). The key factor here is that this works fine in “normal” times, however “normal” is basically a collective psychology concept intimately linked to what those account holders, and the population at large, perceive regarding the financial system in general and each bank in particular.

So, when for whatever reason, “abnormal” times hit – i.e., every time there are (subtly predictable) periodic crises, bank runs, collapses and panics, which seem to suddenly explode as happened in Argentina in 2001 and as is now happening in the US, UK, Ireland, Greece, Iceland, Portugal, Spain, Italy and a growing number of countries – we see all bank account holders running to their banks to try to get their money out in cash. That’s when they discover that there is not enough cash in their banks to pay, save for a small fraction of account holders (usually insiders “in the know” or “friends of the bankers”).

For the rest of us mortals “there is no more money left,” which means that they must resort to whatever public insurance scheme may or may not be in place (e.g., in the US, the state-owned Federal Deposit Insurance Corporation that “insures” up to US$250,000 per account holder with taxpayer money). In countries like Argentina, however, there is no other option but to go out on the streets banging pots and pans against those ominous, solid and firmly closed bronze bank gates and doors. All thanks to the fraudulent fractional bank lending system.

Investment Banking

In the US, so called “Commercial Banks” are those that have large portfolios of checking, savings and fixed deposit accounts for people and companies (e.g., such main street names as CitiBank, Bank of America, JPMorganChase, etc.; in Argentina, we have Standard Bank, BBVA, Galicia, HSBC and others). Commercial Banks operate with fractional lending leverage levels that allow them to lend out “virtual” dollars or pesos for amounts equal to 6, 8 or 10 times the cash actually held in their vaults; these banks are usually more closely supervised by the local monetary authorities of the country.

A different story, however, we had in the US (and still have elsewhere) with so-called global “Investment Banks” (those that make the mega-loans to corporations, major clients and sovereign states), over which there is much less control, so that their leveraging fractional lending ratios are far, far higher. This greater flexibility is what allowed investment banks in the US to “make loans” by, for example, creating out of thin air 26 “virtual” Dollars for every real Dollar in cash they held in their vaults (i.e., Goldman Sachs), or 30 virtual Dollars (Morgan Stanley), or more than 60 virtual Dollars (Merrill Lynch until just before it folded on 15 Sept 2008), or more than 100 virtual Dollars in the cases of collapsed banks Bear Stearns and Lehman Brothers.⁵

Private Money vs Public Money

At this point in our review, it is essential to very clearly distinguish between two types of Money or Currency:

Private Money – This is “Virtual” Money created out of thin air by the private banking system. It generates interests on loans, which increases the amount of Private money in (electronic) circulation, and spreads and expands throughout the entire economy. We then perceive this as “inflation.” In actual fact, the main cause of inflation in the economy is structural to the interest-bearing fractional lending banking system, even among industrialised countries. The cause of inflation nowadays is not so much the excessive issuance of Public Money by Government as all so-called banking experts would have us believe but, rather, the combined effect of fractional lending and interest on private banking money.

Public Money – This is the only Real Money there is. It is the actual notes issued by the national currency entity holding a monopoly (i.e., the central bank or some such government agency) and, as Public Money, it does not generate interest, and should not be created by anyone other than the State. Anybody else doing this is a counterfeiter and should end up in jail because counterfeiting Public Money is equivalent to robbing the Real Economy (i.e., “we, the working people”) of their work, toil and production capabilities without contributing anything in return in terms of socially productive work. The same should apply to private bankers under the present fractional lending system: counterfeiting money (i.e., creating it out of thin air as a ledger entry or electronic blip on a computer screen) is equivalent to robbing the Real Economy of its work and production capacity without contributing any counter-value in terms of work.

Why We Have Financial Crises

A fundamental concept that lies at the very heart of the present Financial Model can be found in the way huge parasitic profits on the one hand, and catastrophic systemic losses on the other, are effectively transferred to specific sectors of the economy, throughout the entire system, beyond borders and public control.

As with all models, the one we suffer today has its own internal logic which, once properly understood, makes that modelpredictable. The people who designed it know full well that it is governed by grand cycles having specific expansion and contraction stages, and specific timelines. Thus, they can ensure that in bull market times of growth and gigantic profits (i.e., whilst the system, grows and grows, is relatively stable and generates tons of money out of nothing), all profits are privatisedmaking them flow towards specific institutions, economic sectors, shareholders, speculators, CEO and top management & trader bonuses, “investors”, etc who operate the gears and maintain the whole system properly tuned and working.

However, they also know that – like all roller coaster rides – when you reach the very top, the system turns into a bear marketthat destabilises, spins out of control, contracts and irremediably collapses, as happened to Argentina in 2001 and to the better part of the world since 2008, then all losses are socialised by making Governments absorb them through the most varied transference mechanisms that dump these huge losses onto the population at large (whether in the form of generalised inflation, catastrophic hyperinflation, banking collapses, bail-outs, tax hikes, debt defaults, forced nationalisations, extreme austerity measures, etc).

The Four-sided Global “Ponzi” Pyramid Scheme

As we know, all good pyramids have four sides, and since the Global Financial System is based on a “Ponzi” Pyramid Scheme, there’s no reason why this particular pyramid should not have four sides as well.

Below is a summary of the Four-side Global “Ponzi” Pyramid Scheme that lies at the core of today’s Financial Model, indicating how these four “sides” function in a coordinated, consistent, and sequential manner.

Side One – Create Public Money Insufficiency. This is achieved, as we explained above, by controlling the National Public entity that issues public money. Its goal is to demonetise the Real Economy so that the latter is forced to seek “alternative funding” for its needs (i.e., so that it has no choice but to resort to private bank loans).

Side Two – Impose Private Banking Fractional Lending Loans. This, as we said, is virtual private money created out of thin air on which bankers charge interest – often at usury levels – thus generating enormous profit for “investors,” creditors and all sorts of entities and individuals who operate as parasites living off other people’s work. This would never have been the case if each local central bank were to flexibly generate the correct quantity of Public Money necessary to satisfy the needs of the Real Economy in each country and region.

Side Three – Promote a Debt-Based Economic System. In fact, the whole Pyramid Model is based on being able to promote this generalised paradigm that falsely states that what really “moves” the private and public economy is not so much work, creativity, toil and effort of workers, but rather “private investors,” “bank loans” and “credit” – i.e., indebtedness. With time, this paradigm has replaced the infinitely wiser, sounder, more balanced and solid concept of corporate profit beingreinvested and genuine personal savings being the foundation for future prosperity and security. Pretty much the way Henry Ford, Sr. originally grew his most successful company.

Today, however, Debt reigns supreme and this paradigm has become entrenched and embedded into people’s minds thanks to the mainstream media and specialised journals and publications, combined with Ivy League universities’ Economics Departments that have all succeeded in imposing such “politically correct” thinking with respect to financial matters, especially those relating to the proper nature and function of Public Money.

The facts are that this Model generates unnecessary loans so that banking creditors can receive huge profits, which includes promoting uncontrolled, unwarranted and often pathological consumerism, which goes hand in hand with the increasing abandonment of the traditional value of “saving for a rainy day.”

Such debts having political and strategic goals rather than merely financial ones, are usually given a thin layer of “legality” so that they may be imposed by the creditor on the debtor (i.e., in the case of The Merchant of Venice, the bond entered into between Antonio and Shylock giving the latter the legal right to a pound of the former’s flesh; in the case of chronically indebted countries like Argentina, such “legality” is achieved through a complex public debt laundering⁶ mechanism carried out by successive formally “democratic” Caretaker Governments to this very day).

Side Four – Privatisation of Profits/Socialisation of Losses. Lastly, and knowing full well that, in the long run, the numbers of the entire Cycle of this Model never add up, and that the whole system will inevitably come crashing down, the Model imposes a highly complex and often subtle financial, legal and media engineering that allows privatising profits andsocialising losses. In Argentina, this cycle has become increasingly visible for those who want to see it, because in our country the local “Ponzi” Pyramid Cycle lasts on average 15 to 17 years, i.e., we’ve had successive collapses involving brutal devaluation (1975), hyperinflation (1989) and systemic banking collapse (2001), however in the industrialised world, that cycle was made to last almost 80 years (i.e., three generations spanning from 1929 to 2008).

Conclusions

The fundamental cause of today’s on-going global financial collapse that exerts massive distortions over the Real Economy – and the ensuing social hardship, suffering and violence – is clear: Virtual Finance has usurped a pedestal of supremacy over the Real Economy, which does not legitimately belong to it. Finance must always be subordinated to, and in the service of, the Real Economy just as the Economy must heed the law and social needs of the Political Model executed by a Sovereign Nation-State (as we back-engineer this entire system, we thus understand why it is necessary for the Global Power Elite to first erode the sovereign Nation-State and to eventually do away with it altogether, in order to achieve its monetary, financial and political ends).

In fact, if we look at matters in their proper perspective, we will see that most national economies are pretty much intact, in spite of having been badly bruised by the financial collapse. It is Finance that is in the midst of a massive global collapse, as this Model of “Ponzi” Finance has grown into a sort of malignant “cancerous tumour” that has now “metastasised,” threatening to kill the whole economy and social body politic, in just about every country in the world, and certainly in the industrialised countries.

The above comparison of today’s financial system with a malignant tumour is more than a mere metaphor. If we look at the figures, we will immediately be able to see signs of this financial “metastasis.” For example, The New York Times in their 22 September 2008 edition explains that the main trigger of the financial collapse that had exploded just one week earlier on 15 September was, as we all know, mismanagement and lack of supervision over the “Derivatives” market. The Times then went on to explain that twenty years earlier, in 1988, there was no derivatives market; by 2002 however, Derivatives had grown into a global 102 trillion Dollar market (that’s 50% more than the Gross Domestic Product of all the countries in the world, the US, EU, Japan and BRICS nations included), and by September 2008, Derivatives had ballooned into a global 531 trillion Dollar market. That’s eight times the GDP of the entire planet! “Financial Metastasis” at its very worst. Since then, some have estimated this Derivatives global market figure to be in the region of One-Quadrillion Dollars…

Naturally, when that collapse began, the caretaker governments in the US, European Union and elsewhere, immediately sprang into action and implemented “Operation Bail-out” of all the mega-banks, insurance companies, stock exchanges and speculation markets, and their respective operators, controllers and “friends.” Thus, trillions upon trillions of Dollars, Euros and Pounds were given to Goldman Sachs, Citicorp, Morgan Stanley, AIG, HSBC and other “too big to fail” financial institutions… which is newspeak for “too powerful to fail”, because they hold politicians, political parties and governments in their steel grip.

All of this was paid with taxpayer dollars or, even worse, with uncontrolled and irresponsible issuance of Public Money bank notes and treasury bonds, especially by the Federal Reserve Bank which has, in practice, technically hyper-inflated the US Dollar: “Quantitative Easing” they call it, which is Newspeak for hyperinflation.

So far, however, like the proverbial Naked Emperor, nobody dares to state this openly. At least not until some “uncontrolled” event triggers or unmasks what should by now be obvious to all: Emperor Dollar is totally and completely naked.⁷ When that happens, we will then see bloody social and civil wars throughout the world and not just in Greece and Argentina.

By then, however, and as always happens, the powerful bankster clique and their well-paid financial and media operators, will be watching the whole hellish spectacle perched in the safety and comfort of their plush boardrooms atop the skyscrapers of New York, London, Frankfurt, Buenos Aires and Sao Paulo…

Footnotes

1. The concept of “Geoeconomics” was coined by the New York-based Council on Foreign Relations, through a studies group honouring Maurice Greenberg, the financier who was for decades CEO of American International Group (AIG) which collapsed in 2008 and had strong conflict-of-interest ties with major insurance and reinsurance broker Marsh Group whose CEO was his son Jeffrey. Both father and son were indicted for fraud by then New York Attorney General Elliot Spitzer. Spitzer would later pay a very heavy price for this after becoming Governor of New York State when someone “discovered” his sex escapades which were quickly blown up into a major scandal by The New York Times…

2. We have described the basic Global Power Elite structure, model and objectives in our e-Book The Coming World Government: Tragedy & Hope?, available through www.asalbuchi.com.ar.

3. For more information, see the Third Pillar of the Second Republic Project “Reject the Debt-Based Economy” onwww.secondrepublicproject.com.

4. Some notable exceptions: Today: Libya, Iran, Syria, China; In the past: Peron’s Argentina, Germany and Italy in the 30’s and 40’s….  Are we seeing a pattern here?

5. See The New York Times, 22 September 2008

6. See White Paper comparing Debt Laundering mechanisms to Money Laundering mechanisms, lodged under Pillar No 3 “Reject the Debt-Based Economy” of Second Republic Project in www.secondrepublicproject.com.

7. This is more fully described in the author’s book The Coming World Government: Tragedy & Hope?, in the chapter “Death & Resurrection of the US Dollar”. Details on www.asalbuchi.com.ar. Also available upon request by E-mail:salbuchi@fibertel.com.ar.

ADRIAN SALBUCHI is a political analyst, author, speaker and radio talk-show host in Argentina. He has published several books on geopolitics and economics in Spanish, and recently published his first eBook in English: The Coming World Government: Tragedy & Hope? which can be ordered through his web sitewww.asalbuchi.com.ar, or details can be requested by E-mail to arsalbuchi@gmail.com. Salbuchi is 58 years of age, married, with four adult children, and works as strategic consultant for domestic and international companies. He is also founder of the Second Republic Project in Argentina, which is expanding internationally (visit: www.secondrepublicproject.com).

The above article appeared in New Dawn No. 128 (September-October 2011).

America Is Being Transformed From A Wealthy Nation Into A Poor Nation At Breathtaking Speed

March 14, 2012

The Economic Crisis – March 11, 2012

America is losing wealth far faster than any other nation on earth is.  In fact, since the mid-1970s there has been a transfer of wealth of almost 8 trillion dollars from the United States to the rest of the world.  Sadly, most Americans have no idea what is happening.  Most of them are completely unaware that America is being transformed from a wealthy nation into a poor nation at breathtaking speed.  Most Americans just assume that America will always have the largest economy on earth and will always be the wealthiest nation on the globe.  Unfortunately, just because something was true in the past does not mean that it will be true in the future.  Right now, the United States is bleeding wealth at a pace that is almost unimaginable.  Every single month, tens of billions of dollars of wealth is permanently transferred from the American people to the rest of the world.  That means that the overall economic pie is shrinking.  While the rich and the poor are busy fighting over the distribution of wealth in this country, the size of the pie that they are dividing up is continually getting smaller.  America is poorer than it was last month, and next month it will be even poorer.  If this continues, it will result in a complete and total economic nightmare.
Let’s break this down to a real simple example.  Imagine that you are playing a game with a whole bunch of people, and you have been chosen to play the role of the United States.  So you go stand on a giant map of the United States and you are given much more money than anyone else in the game.  However, with each turn 50 billion dollars is taken out of your pile of money and is given to the other players.
What is going to happen eventually?
Yes, that is right – you are going to run out of money at some point.
In order to continue playing you will need to borrow more money from the other players or you will need to print up some more money.
Does that sound familiar?

In January, the U.S. trade deficit with the rest of the world hit 52.6 billion dollars.

That means that we bought 52.6 billion dollars more stuff from the rest of the world than they bought from us.
That 52.6 billion dollars is gone and it is not coming back.  Next month another 50 billion dollars will leave the country.

Are you starting to get the picture?
Imagine a giant hourglass filled with dollar bills.  Dollars are pouring out of the United States and into the pockets of foreigners at a pace that is absolutely astounding.
In 2011, the U.S. trade deficit with the rest of the world was about 560 billion dollars.
We have a trade imbalance that is more than 5 times larger than any other nation on earth has.  That means that we are getting poorer at a far faster rate than anyone else is.
Most of the money that we spend does not even do any lasting good.
For example, a huge chunk of our trade deficit is spent on importing oil.  Once we burn that oil up in our cars it is gone for good and we have nothing to show for it.
But the people we sent our money to end up with bulging bank accounts.
How in the world do you think those oil barons build those outrageous palaces and are able to afford those exotic car collections?
They buy all those things with the money that we sent to them.
Meanwhile, our once great major cities are degenerating into festering sores.
Our foolish policies are causing our own destruction.

Another reason why we have such a huge trade deficit is because of our trade relationship with China.
Our trade deficit with China was approximately 26 billion dollars during the month of January.
That is absolutely horrifying.

For the entire year of 2011, our trade deficit with China hit a grand total of about 295.5 billion dollars.

That was the largest trade deficit that one country has had with another country in the history of the world.

Back in 1985, the U.S. trade deficit with China was only 6 million dollars for the entire year.

In 2011, our trade deficit with China was more than 49,000 times larger than it was back in 1985.

That is not a good trend.
Have you ever noticed that it seems like half the stuff we sell in our stores says “Made in China” on it?
Well, that is because China is wiping the floor with us on the global economic stage.

Just look at how the overall U.S. trade deficit has exploded over the past few decades.  In the chart, 

we see that the U.S. trade deficit really spiked when the price of oil reached unprecedented heights a few years ago.  Then it dropped during the recession when the price of oil fell like a rock.  But now the U.S. trade deficit is almost back to where it was before….
Today, the U.S. trade deficit with the rest of the world is about 5 times larger than it was back in 1996.
That means that we are getting poorer as a nation at a rate that is 5 times faster than back in 1996.
All of that money that is going out of the country could be going to support jobs and businesses inside the United States.
But instead we have been losing jobs and businesses over the past decade at a rate that is absolutely amazing.

According to U.S. Representative Betty Sutton, an average of 23 manufacturing facilities a day closed down in the United States during 2010.

23 every single day!

That means less jobs for American workers.
Right now, there are approximately 6 million fewer jobs in America than there was back in December 2007.
Because there are not enough jobs, we now have millions of working age Americans that simply cannot take care of themselves.
But it isn’t just jobs that we are losing.

There are a whole host of other statistics that show that economic conditions in America continue to get worse and worse and worse.  An all-time record 46.5 million Americans are on food stamps and poverty continues to explode all over nation.
Instead of addressing the root causes of our problems, our leaders continue to support our false standard of living by borrowing gigantic piles of money.
In many instances, we go back to the very same people that we sent our money to and we beg them to borrow it back.
How stupid can we be?

Debt always makes you even poorer in the long run.
Take a look at how our budget deficits on the national level have absolutely exploded in recent years….

Anyone that tells you that America is in good shape financially is lying.
Just look at that chart.
Sadly, the truth is even worse than the chart shows.  For example, there never was a “surplus” under the Clinton administration.  The U.S. government simply stole money from Social Security and used a bunch of other accounting tricks to make things seem a lot better than they were.
And the U.S. government is still using all sorts of accounting tricks to hide the true size of the national debt.  If you doubt this, just read this article.
If the U.S. government was forced to use GAAP (Generally Accepted Accounting Principles), the U.S. budget deficit would be far larger each year.
But it is not just the federal government that is drowning in debt.
All over the country right now, municipalities are going broke….
*Harrisburg, Pennsylvania has announced that it will be skipping debt payments.
*Stockton, California is on the verge of becoming the largest U.S. municipality to ever file for bankruptcy.

For years, our politicians borrowed immense amounts of money to make up for all of the wealth that we were bleeding as a nation.
But now we are absolutely drowning in debt and all of this reckless spending is not going to be able to last much longer.
When all of this reckless spending ends, our false prosperity is going to disappear.

Did you know that the U.S. national debt is growing by about 150 million dollars every single hour?
150 million dollars an hour is being stolen from our children and our grandchildren so that we can maintain our false standard of living.
Most Americans expect things to get back to “normal”, but the truth is that “normal” has left the building.
Our transition from being a wealthy nation to being a poor nation continues every single day, and our politicians are doing nothing to stop it.
Enjoy these good times while you still can, because they are not going to last too much longer.  The debt bubble we have been living in is going to burst, and when it does we are going to get hit with a cold dose of reality.

The City of London

Jewish banishment and the City of London

August 14, 2011

Earthlinggb’s Blog

Anyone thinking very logically and simply would simply ask one question:

WHY HAVE JEWS BEEN BANISHED FROM SOME MANY DIFFERENT COUNTRIES AND CULTURES OVER CENTURIES? BY PEOPLES WHO HAVE NEVER HAD THE OPPORTUNITY TO CONSPIRE AGAINST THEM BECAUSE OF VAST DISTANCES BETWEEN THE COUNTRIES WHO HAVE BANISHED THEM. YET ALL OF THESE PEOPLES HAVE, AT DIFFERENT TIMES THROUGHOUT HISTORY, FELT IT NECESSARY TO DO JUST THAT. FOR NO REASON? ALL OF THESE CULTURES HAVE JUST HAD SOME RACIAL HATRED OF JEWS? THERE’S NO LOGIC IN IT. THE ONLY COMMON DENOMINATOR WHICH PERMEATES THROUGHOUT THESE BANISHMENTS IS THAT OF MONEY AND USURY.

Henk Ruyssenaars’ article on July 10th 2006 drew attention to the book “Descent into Slavery” by Des Griffin in which the real meaning of the term “City of London” is explained. The following is an excerpt from that article.

“To the majority of people the words “Crown” and “City” in reference to London refer to the queen or the capital of England.

This is not the truth. The “City” is in fact a privately owned Corporation – or Sovereign State – occupying an irregular rectangle of 677 acres and located right in the heart of the 610 square mile ‘Greater London’ area. The population of ‘The City’ is listed at just over four thousand, whereas the population of ‘Greater London’ (32 boroughs) is approximately seven and a half million.

“The Crown” is a committee of twelve to fourteen men who rule the independent sovereign state known as London or ‘The City.’ ‘The City’ is not part of England. It is not subject to the Sovereign. It is not under the rule of the British parliament. Like the Vatican in Rome, it is a separate, independent state.

“The City”, which is often called “the wealthiest square mile on earth,” is ruled over by a Lord Mayor. Here are grouped together Britain’s great financial and commercial institutions: Wealthy banks, dominated by the privately-owned (Rothschild controlled) Bank of England, Lloyd’s of London, the London Stock Exchange, and the offices of most of the leading international trading concerns. Here, also, is located Fleet Street, the heart and core of the newspaper and publishing worlds.

The Lord Mayor, who is elected for a one year stint, is the monarch in the City. As Aubrey Menen says in “London”, Time-Life, 1976, p. 16:

“The relation of this monarch of the City to the monarch of the realm [Queen] is curious and tells much.”

It certainly is and certainly does!

When the Queen of England goes to visit the City she is met by the Lord Mayor at Temple Bar, the symbolic gate of the City. She bows and asks for permission to enter his private, sovereign State. During such State visits “the Lord Mayor in his robes and chain, and his entourage in medieval costume, outshines the royal party, which can dress up no further than service uniforms.”

The Lord Mayor leads the queen into his city.The symbolism is clear. The Lord Mayor is the monarch. The Queen is his subject.

The small clique who rule the City dictate to the British Parliament. It tells them what to do, and when. In theory Britain is ruled by a Prime Minister and a Cabinet of close advisers. These ‘fronts’ go to great lengths to create the impression that they are running the show but, in reality, they are mere puppets whose strings are pulled by the shadowy characters who dominate behind the scenes. As the former British Prime Minister of England during the late 1800s Benjamin D’Israeli wrote:

“So you see… the world is governed by very different personages from what is imagined by those who are not behind the scenes”
(Coningsby, The Century Co., N.Y., 1907, p. 233).

This fact is further demonstrated by another passage from Menen’s book:

“The Prime Minister, a busy politician, is not expected to understand the mysteries of high finance, while the Chancellor of the Exchequer is only expected to understand them when he introduces the budget. Both are advised by the permanenet officials of the Treasury, and these listen to the City. If they suspect that some policy of the government will back-fire, it is of no use their calling up British ambassadors to ask if it is so; they can find out more quickly from the City. As one ambassador said: “Diplomats are nowadays no more than office boys, and slow ones at that. The City will know. They will tell the Treasury and the Treasury will tell the Prime Minister.”

Woe betide him if he does not listen. The most striking instance of this happened in recent history. In 1956 the then Prime Minister, Sir Anthony Eden… launched a war to regain the Suez Canal. It had scarcely begun when the City let it be known that in a few days he would have no more money to fight it; the Pound would collapse. He stopped the war and was turned out of office by his party. When the Prime Minister rises to address the Lord Mayor’s banquet, he hopes that the City will put more behind him than the gold plate lavishly displayed on the sideboards.”

The British government is the bond slave of the “invisible and inaudible” force centred in the City. The City calls the tune. The “visible and audible leaders” are mere puppets who dance to that tune on command. They have no power. They have no authority. In spite of the outward show they are mere pawns in the game being played by the financial elite.

It is important to recognise the fact that two separate empires were operating under the guise of the British Empire. One was the Crown Empire and the other the British Empire.

The colonial possessions that were white were under the sovereign – i.e. under the authority of the British government. Such nations as the Union of South Africa, Australia, New Zealand and Canada were governed under British law. These only represented thirteen percent of the people who made up the inhabitants of the Britsh Empire.

All the other parts of the British Empire – nations like India, Egypt, Bermuda, Malta, Cyprus and colonies in Central Africa, Singapore, Hong Kong and Gibraltar were all Crown Colonies. These were not under British rule. The British parliament had no authority over them.

As the Crown owned the committee known as the British government there was no problem getting the British taxpayer to pay for naval and military forces to maintain the Crown’s supremacy in these areas.

The City reaped fantastic profits from its operations conducted under the protection of the British armed forces. This wasn’t British commerce and British wealth. The international bankers, prosperous merchants and those members of the aristocracy who were part of the “City” machine accumulated vast fortunes .

About seventy years ago Vincent Cartwright Vickers stated that :

….”financiers in reality took upon themselves, perhaps not the responsibility, but certainly the power of controlling the markets of the world and therefore the numerous relationships between one nation and another, involving international friendship and mistrusts… Loans to foreign countries are organised and arranged by the City of London with no thought whatsoever of the nation’s welfare but solely in order to increase indebtedness upon which the City thrives and grows rich…”
In “Empire of the City” E. C. Knuth said:

” This national amnd mainly international dictatorship of money which plays off one country against another and which, through ownership of a large portion of the press converts the advertisement of its own private opinion into a semblance of general public opinion, cannot for much longer be permitted to render Democratic Government a mere nickname. Today we see through a glass darkly: for there is so much which it would not be in the public interest to divulge.”…

The battle for power and riches is an ancient one, but any attempt to make sense of the present world situation where the bulk of humanity is being herded like sheep into a corral without some knowledge of history is a difficult if not impossible task.

At present names have been replaced by groups, capitalists, republicans, democrats, terrorists, corporations, NATO, UNO, NAFTA, EMI, ECB, ASEAN. Names that are spewed out like confetti in an endless list of anonymity.

In spite of modern technology the figures in the background remain blurred. Mention the word “Jew” or “Conspiracy” and everyone with few exceptions will turn away. Why? Fear? Of what? What is the magic talisman which makes the mention of these co-religionists a no-go area? Is it because they have infiltrated every aspect of human activity? Is it they who are pulling the strings which are leading the world on its downward slope?

The Jew has been mistrusted since way back. But what is apparent now is that any attempt to offer an answer to the question is clamped down upon. What does that indicate? Above all it indicates that these shadowy figures fear more than anything else the truth.

Professor Jesse H. Holmes, writing in, “The American Hebrew,” expressed the following similar sentiments:

“It can hardly be an accident that antagonism directed against the Jews is to be found pretty much everywhere in the world where Jews and non-Jews are associated. And as the Jews are the common element of the situation it would seem probable, on the face of it, that the cause will be found in them rather than in the widely varying groups which feel this antagonism.
In Europe and Russia alone, the Jews have been banished 47 times in the last 1,000 years: Mainz, 1012; France, 1182; Upper Bavaria, 1276; England, 1290; France, 1306; France, 1322; Saxony, 1349; Hungary, 1360; Belgium, 1370; Slovakia, 1380; France, 1394; Austria, 1420; Lyons, 1420; Cologne, 1424; Mainz, 1438; Augsburg, 1438; Upper Bavaria, 1442; Netherlands, 1444; Brandenburg, 1446; Mainz, 1462; Lithuania, 1495; Portugal, 1496; Naples, 1496; Navarre, 1498; Nuremberg, 1498; Brandenburg, 1510; Prussia, 1510; Genoa, 1515; Naples, 1533; Italy, 1540; Naples, 1541; Prague, 1541; Genoa, 1550; Bavaria, 1551; Prague, 1557; Papal States, 1569; Hungary, 1582; Hamburg, 1649; Vienna, 1669; Slovakia, 1744; Mainz, 1483; Warsaw, 1483; Spain, 1492; Italy, 1492; Moravia, 1744; Bohemia, 1744; Moscow, 1891.

(The above is excerpted from The Synagogue of Satan by Andrew Carrington Hitchcock.)

Of what were these people guilty to arouse such a reaction from so many diverse people?

Well, in England, it’s very interesting:

IT ALL STARTED with The Edict of Expulsion of 1290 AD.
The Jews would have us believe that their expulsion from England by Edward I (reigned 1272-1307) was due to their money lending endeavors. The real reason was due to the Jews’ crime of blood ritual murders.

The Orthodox Christian historian of the 5th Century, Socrates Scholasticus, in his Ecclesiastical History, 7:16, recounts an incident about Jews killing a Christian child:

— “At a place near Antioch in Syria, the Jews, in derision of the Cross and those who put their trust in the Crucified One, seized a Christian boy, and having bound him to a cross they made, began to sneer at him. In a little while becoming so transported with fury, they scourged the child until he died under their hands.” —

Here are a few examples which led to the English expulsion of the Jews in 1290 AD:

1144 A.D. Norwich: A twelve year-old boy was crucified and his side pierced at the Jewish Passover. His body was found in a sack hidden in a tree. A converted Jew to Christianity named Theobald of Cambridge informed the authorities that the Jews took blood every year from a Christian child because they thought that only by so doing could they ever return to Palestine. The boy has ever since been known as St. William.

1160 A.D. Gloucester: The body of a child named Harold was found in the river with the wounds of crucifixion.

1255 A.D. Lincoln: A boy named Hugh was tortured and crucified by the Jews. The boy’s mother found the body in a well on the premises of a Jew named Jopin. 18 Jews were hanged for the crime by King Henry III.

1290 A.D. Oxford: The Patent Roll 18 Of Edward I, 21st June 1290 contains an order for the Gaol delivery of a Jew named Isaac de Pulet for the murder and blood letting of a Christian boy. Only one month after this, King Edward I issued his decree expelling the Jews from England.
(See Sources #1 Below )

JEWISH BANKERS FROM AMSTERDAM led by the Jewish financier and army contractor of Cromwell’s New Model Army, Fernandez Carvajal and assisted by Portuguese Ambassador De Souza, a Marano (secret Jew), saw an opportunity to exploit in the civil unrest led by Oliver Cromwell in 1643.

A stable Christian society of ancient traditions binding the Monarchy, Church, State, nobles and people into one solemn bond was disrupted by Calvin’s Protestant uprising. The Jews of Amsterdam exploited this civil unrest and made their move. They contacted Oliver Cromwell in a series of letters:

Cromwell To Ebenezer Pratt of the Mulheim Synagogue in Amsterdam,
16th June 1647:
— “In return for financial support will advocate admission of Jews to England: This however impossible while Charles living. Charles cannot be executed without trial, adequate grounds for which do not at present exist. Therefore advise that Charles be assassinated, but will have nothing to do with arrangements for procuring an assassin, though willing to help in his escape.” —

To Oliver Cromwell From Ebenezer Pratt, 12th July 1647:
— “Will grant financial aid as soon as Charles removed and Jews admitted. Assassination too dangerous. Charles shall be given opportunity to escape: His recapture will make trial and execution possible. The support will be liberal, but useless to discuss terms until trial commences.” —

Cromwell had carried out the orders of the Jewish financiers and beheaded, (yes, Cromwell and his Jewish sponsors must face Christ!), King Charles I on January 30 1649.

Beginning in 1655, Cromwell, through his alliance with the Jewish bankers of Amsterdam and specifically with Manasseh Ben Israel and his brother-in-law, David Abravanel Dormido, initiated the resettlement of the Jews in England.
(See Sources #2 Below )

JEWS GET THEIR CENTRAL BANK OF ENGLAND

WILLIAM STADHOLDER, a Dutch army careerist, was a handsome chap with money problems. The Jews saw another opportunity and through their influence arranged for William’s elevation to Captain General of the Dutch Forces. The next step up the ladder for William was his elevation by the Jews to the aristocratic title of William, Prince of Orange.

The Jews then arranged a meeting between William and Mary, the eldest daughter of the Duke of York. The Duke was only one place removed from becoming King of England. In 1677 Princess Mary of England married William Prince of Orange.

To place William upon the throne of England it was necessary to get rid of both Charles II and the Duke of York who was slated to become James II of the Stuarts. It is important to note that none of the Stuarts would grant charter for an English national bank. That is why murder, civil war, and religious conflicts plagued their reigns by the Jewish bankers.

In 1685, King Charles II died and the Duke of York became King James II of England. In 1688 the Jews ordered William Prince of Orange to land in England at Torbay. Because of an ongoing Campaign of L’Infamie against King James II contrived by the Jews, he abdicated and fled to France. William of Orange and Mary were proclaimed King and Queen of England.

The new King William III soon got England involved in costly wars against Catholic France which put England deep into debt. Here was the Jewish bankers’ chance to collect. So King William, under orders from the Elders of Zion in Amsterdam, persuaded the British Treasury to borrow 1.25 million pounds sterling from the Jewish bankers who had helped him to the throne.

Since the state’s debts had risen dramatically, the government had no choice but to accept. But there were conditions attached: The names of the lenders were to be kept secret and that they be granted a Charter to establish a Central Bank of England. Parliament accepted and the Jewish bankers sunk their tentacles into Great Britain.

ENTER THE ROTHSCHILDS

MAYER AMSCHEL BAUER OPENED a money lending business on Judenstrasse (Jew Street) in Frankfurt Germany in 1750 and changed his name to Rothschild. Mayer Rothschild had five sons.

The smartest of his sons, Nathan, was sent to London to establish a bank in 1806. Much of the initial funding for the new bank was tapped from the British East India Company which Mayer Rothschild had significant control of. Mayer Rothschild placed his other four sons in Frankfort, Paris, Naples, and Vienna.

In 1814, Nathanael Rothschild saw an opportunity in the Battle of Waterloo. Early in the battle, Napoleon appeared to be winning and the first military report to London communicated that fact. But the tide turned in favor of Wellington.

A courier of Nathan Rothschild brought the news to him in London on June 20. This was 24 hours before Wellington’s courier arrived in London with the news of Wellington’s victory. Seeing this fortuitous event, Nathan Rothschild began spreading the rumor that Britain was defeated.

With everyone believing that Wellington was defeated, Nathan Rothschild began to sell all of his stock on the English Stock Market. Everyone panicked and also began selling causing stocks to plummet to practically nothing. At the last minute, Nathan Rothschild began buying up the stocks at rock-bottom prices.

This gave the Rothschild family complete control of the British economy – now the financial centre of the world and forced England to set up a revamped Bank of England with Nathan Rothschild in control.
(See Sources #4 Below )

ALL ABOUT THE JEWISH VATICAN

(As much as that is possible given Rothschild secrecy)
A PRIVATE FINANCIAL CORPORATION exists today in England known as “The City.” It is also known as The Jewish Vatican located in the heart of Greater London:

A Committee of 12 men rule The Jewish Vatican. They are known as “The Crown.” The City and its rulers, The Crown, are not subject to the Parliament. They are a Sovereign State within a State.

The City is the financial hub of the world. It is here that the Rothschilds have their base of operations and their centrality of control:

• The Central Bank of England (controlled by the Rothschilds) is located in The City.
  * All major British banks have their main offices in The City.
  * 385 foreign banks are located in The City.
  * 70 banks from the United States are located in The City.

London Stock Exchange is located in The City.
* Lloyd’s of London is located in The City.
* The Baltic Exchange (shipping contracts) is located in The City.
* Fleet Street (newspapers & publishing) is located in The City.
* The London Metal Exchange is located in The City.
* The London Commodity Exchange (trading rubber, wool, sugar, coffee) is located in The City.

Every year a Lord Mayor is elected as monarch of The City. The British Parliament does not make a move without consulting the Lord Mayor of The City. For here in the heart of London are grouped together Britain’s financial institutions dominated by the Rothschild-controlled Central Bank of England.

The Rothschilds have traditionally chosen the Lord Mayor since 1820. Who is the present day Lord Mayor of The City? Only the Rothschilds’ know for sure…
(See Sources #5 Below )

Sources #1: Ariel Toaff, Bloody Passover-Jews of Europe and Ritual Homicide, 2007 Click Here; J. C. Cox, Norfolk Churches; Victoria County History of Norfolk, 1906; Arnold Leese, Jewish Ritual Murder In England; Henry III, Close Roll 16; Joseph Haydn, Dictionary of Dates.

Sources #2: Isaac Disraeli, Life of Charles I, 1851; Hugh Ross Williamson, Charles and Cromwell; AHM Ramsey, The Nameless War; Lord Alfred Douglas, Plain English, 1921; Geoffrey H. Smith, The Settlement Of Jews In England

Sources #3: John Harold Wood, History of Central Banking in Great Britain; Gustaaf Johannes Renier, William of Orange

Sources #4: Frederick Morton, The Rothschilds; Benjamin Disraeli, Coningsby

Sources #5: E.C. Knuth, The Empire of The City; Des Griffin, Descent Into Slavery