The Black Hole of Debt - Steve Keen

 the black hole of private central bank, out-of-thin-air, debt-money…

  “so now the GOVERNMENT printed over 11 Trillion in bailout money but hardly any inflation and economic recovery. Only recovery possible is if private sector gets a debt forgiveness. The globalist bankers might possibly do that. But I wonder if it will happen only after they buy up all the junk debt. Then, they will tell each country they own all their debt and changes will have to be made. Lose your constitution, give up lands for a UN charter, etc. Incredible…Own all countries, by lending them paper currency created out of thin air. But the sheeple will be too slow to figure it out and willingly hand over their countries for one? more can of tuna…it is time governments gave money to debtors to pay down debt instead of to creditors such as banks who have held onto it..”

Saturday, July 7, 2012

The Black Hole of Debt – Steve Keen – video

Professor Steve Keen means that the private sector got into too much debt during the half decade of boom times from 2003 to 2007. Private money is responsible for most of the inflation in the last decade through banking fractional reserve? via wanton consumerism of the masses and speculation of the banks, not FED printing digital currency. so now the GOVERNMENT printed over 11 Trillion in bailout money but hardly any inflation and economic recovery. Only recovery possible is if private sector gets a debt forgiveness. The globalist bankers might possibly do that. But I wonder if it will happen only after they buy up all the junk debt. Then, they will tell each country they own all their debt and changes will have to be made. Lose your constitution, give up lands for a UN charter, etc. Incredible…Own all countries, by lending them paper currency created out of thin air. But the sheople will be too slow to figure it out and willingly hand over their countries for one? more can of tuna.

Professor of Economics Steve Keen gives his thoughts on current problems in academic economics. Steve Keen says we are already in another Great Depression. He advocates bankrupting the banks, nationalizing the financial system and paying off people’s debt Economist Steve Keen is one of the few economists to have predicted the global financial crisis and now he says we are already in a Great Depression. He says the way to escape it is to bankrupt the banks, nationalize the financial system and pay off people’s debt. He admits what he is advocating is radical but says it is time governments gave money to debtors to pay down debt instead of to creditors such as banks who have held onto it.

There is a solution to inflation, deflation and system crash – abolish usury, count all prior payments of interest towards principal and establish payment schedules to match the asset consumption/ depreciation rate.? Facile implementation.Keen attacks the root of the problem directly. Furthermore the solutions to? terminal debt are easily conceivable. Like in our backwards system, sub-prime borrowers receive higher interest as a “safeguard,” which is ass-backwards. The entire education system is flawed. It is based on indoctrination. It’s purpose is to create naive and obedient citizens, remove critical thinking and replace it with authoritarian thinking, and to train a managerial class which serves the power structure and controls the people The economists were not taught “how the economy works”, they were taught propaganda justifying the current economic system/policy since they were taught? wrong, their predictions are also always wrong simple as that.

http://www.youtube.com/watch?v=dsCzqqvIOms&feature=player_embedded#!

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