One of the things I find most amazing about the Credit Crunch is how surprised most commentators, who ought to know better, are at how things are turning out.
Did they really think that the credit bubble of the last sixteen years was going to carry on and on for ever? Here in the UK, for example, we have had a situation for many years where much of the national wealth has consisted of the inflated value of houses and other buildings.
We’ve lost so much of our manufacturing industry, owing to multi-national companies transferring their factories to the far east and other places where wages are at rock bottom, that the so-called “service” industries now account for over 80 per cent of employment. In a country where most of us are in effect taking in each other’s washing for a living, is it any wonder that most of our wealth is simply what’s left of our country after the banking system has finished with it? In other words, things that just can’t be shipped out of the country, such as buildings?
That explains why, over the last 40 or 50 years, mortgage lending has assumed such a large part of our economy. It’s simply the banking system going for what is left – bricks and mortar. It doesn’t matter to them that bricks and mortar are people’s homes, their businesses, their farms and factories. To the banking system it’s just security for their fictitious loans, to ensure they make their multi-billion pound profits for not actually contributing anything to the national wealth.
Now in the UK, as in the USA and other countries, many of the banks who have been gorging themselves off the backs of the working population have come unstuck. They have sucked so much life-blood out of the economy that there’s hardly any left. This is just the latest in a long line of financial crises, going back centuries. It’s part of the system. As soon as enough people just cannot continue paying tribute to the money lenders, the money lenders themselves (or SOME of them – see below) suddenly find themselves in trouble and start howling for help.
It’s always the case that when they are making large, unwarranted profits, well, that’s nobody’s business but their own. But when they’re suddenly caught out and have to chalk up losses, well, somebody, please help! Namely the Government, courtesy of the tax payers, the very people these banks have been taking a free ride from for years.
The whole system is a racket of the worst possible kind, where the victims are just ordinary folk, struggling to make a living and bring up a family.
It is the mission of this blog and the web site that hosts it to reveal this fraud to as many people as possible. The home page of ancientbankingsecret.com covers the subject very briefly, but I recommend our first publication, Promise To Pay, written as far back as 1934 by Dr R. McNair Wilson, which explains the whole system lucidly, and at the same time very entertainingly. This, too, is available from the main page of our web site.
The only other thing I want to mention today is that there are SOME banks and finance houses that are immune from the financial crisis. I haven’t seen anywhere that the House of Rothschild is in trouble. If this banking crisis is anything like those of earlier times then the big players in this unsavoury business will take the opportunity of getting rid of as many of the smaller players as they can to pave the way for even larger profits and greater power for themselves in the future.
That’s why we really need to root out the cancer that is the debt-based syphilitic system we’ve had to endure for too long now. And replace it with sound money issued solely by each national government accountable to the people.
Spread the word!
Philip Gegan
This entry was posted on Friday, October 17th, 2008 at 7:23 am and is filed under News and Comment on The Banking System Worldwide. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.