The Purpose Of Modern Capitalist Banking Systems Is To Create Increasing Debt And Not Increasing Wealth
Sunday, 29. June 2008, 17:32:41
Updated July 9, 2008
Vulture Capitalism
Elaine Meinel Supkis writing in Financial Black Holes relates that "modern capitalist banking systems create increasing DEBT and not increasing wealth!"
And she relates, "the desire is for all systems to be over 100% in debt!"
And she also relates: "So this system of paying in the future is collapsing. It will continue until enough debt has been retired via bankruptcy so the system can restart again."
I believe in the Liquidation Thesis where government services and payments, service sector jobs, public and private debt of all types, and unfunded retiree benefits are going to be liquidated, that is done away with.
I see the end being different than Ms. Supkis; I see the outcome was foretold in the Bible prophecy of Revelation Chapter Thirteen, that as economic conditions worsen, the False Prophet, who also acts as Seignior, meaning investment banker who takes a cut, will introduce a seigniorage system, which is based upon the charagma which is the Greek word meaning "etching in", or "tattoo upon", or "stamp", or "badge of servitude", or "mark", which enables one to conduct economic activity, and which authorizes one to receive economic benefits; the mark will be required in order to buy or sell.
Suggested Reading
Chart of the day: household debt vs. savings, by Edward Harrison
Why the Bail Out of Fannie Mae and Freddie Mac is Bad Economic Policy by Michael Hudson: The housing boom never had anything to do with Bush’s Utopian-sounding “ownership society”. It was always just a swindle to enrich the banking establishment and divert middle class wealth to ruling class elites.
Vulture Capitalism
Elaine Meinel Supkis writing in Financial Black Holes relates that "modern capitalist banking systems create increasing DEBT and not increasing wealth!"
And she relates, "the desire is for all systems to be over 100% in debt!"
And she also relates: "So this system of paying in the future is collapsing. It will continue until enough debt has been retired via bankruptcy so the system can restart again."
I believe in the Liquidation Thesis where government services and payments, service sector jobs, public and private debt of all types, and unfunded retiree benefits are going to be liquidated, that is done away with.
I see the end being different than Ms. Supkis; I see the outcome was foretold in the Bible prophecy of Revelation Chapter Thirteen, that as economic conditions worsen, the False Prophet, who also acts as Seignior, meaning investment banker who takes a cut, will introduce a seigniorage system, which is based upon the charagma which is the Greek word meaning "etching in", or "tattoo upon", or "stamp", or "badge of servitude", or "mark", which enables one to conduct economic activity, and which authorizes one to receive economic benefits; the mark will be required in order to buy or sell.
Suggested Reading
Chart of the day: household debt vs. savings, by Edward Harrison
Why the Bail Out of Fannie Mae and Freddie Mac is Bad Economic Policy by Michael Hudson: The housing boom never had anything to do with Bush’s Utopian-sounding “ownership society”. It was always just a swindle to enrich the banking establishment and divert middle class wealth to ruling class elites.
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