FOLLY of FINANCE
FOLLY of FINANCE
Financial markets are feeble. There is talk about banking failures and economic collapse. Yet, the US dollar is getting stronger not weaker. President Buckwheat is talking about new U/E numbers below 5% when labor force participation is barely 50%. Why does it seem everybody is wrong? I rush to my advisor and deep trance medium Loco Lola for a reading on the future.
She refuses to see me, but suggests Prof C More Books, who knows all about every thing because he reads two books. MONEY the 12th and FINAL RELIGION and THE AMERICAN CALIPHATE OF BIZWOG ( British Israel Zionist World Occupation Government). These books support him about financial and religious matters including budgets and deficits. She recommends.
The prof is alive with a rant about the US debt. Even if all future budgets were balanced without further deficits, the national debt will double in less than 70 years at current 1% interest rates, he shouts. At 2% the debt will double in 35 years. If the fed raises rates to 6%, the debt will double in 12 years. Think of the trillions of dollars accumulating in the hands of the few. He shouts.
I demand. “Who are the few.” He roars in garbled tones something about the Anglo-Hebraic central banking swindle that infects the planet since US submitted to the Federal Reserve System.
Overtaken with quiet insight, I suggest solution to a system that has obviously exceeded its sell by date. Why not cancel the concept of national debt. Freeze the debt at current level and amortize the amount to be paid in 4% increments for the next 25 years. Only individual holders of debt would be eligible to receive payment. All corporations and financial “players” like primary dealers would take a financial “haircut” with no payment what so ever in the sense that they are largely responsible for the fiction of national debt in the first place.
He makes a devilish grin. That would impoverish all the Wall street crowd within minutes, he said. “So what,” I replied. “There is no reason they are exempt from experiencing the poverty that brutalized the workers and farmers and veterans of the nation periodically over the past century.” He agreed in good humor.
Both books available on pdf for ten dollars.