X22Report Spotlight: The Global Reset Happened This Way Thousands of Times, This Is Why Central Banks Are Panicking - Lynette Zang +Videos
In a credit/debit system, given the fact that our national debt never seems to fall, makes it pretty obvious that the people aren’t being given credit back for our labor, when we work to accept their ‘IOU’ notes. When we pay our bills, the ‘monies’ we spend when we write a check is supposed to be offset with credit at the US Treasury to bring down the national debt. But of course, we’ve been dumbed down for so long, and we have allowed the government to become our master, who in turn, have allowed the private bankers to call the shots, so how are we to know how ‘their’ government works. After all, they decide what they teach our children, just as they chose what to teach us, and I assure you, not one of my teachers ever told me that I had a right to claim my birthrights as an American State National on my 21st birthday (age requirement has since changed to you 18th birthday) … google ‘Minnesota Rule 220′, applicable to all 50 states … meaning, you are no longer a ‘minor’, incapable of handling your own affairs. It also reinforces the fact that you are the ‘Holder in Due Course’ over your given name, which in essence is the title to YOU … take it back and claim you given name, then record it on the land.
Via Greg Hunter’s USAWatchdog.com,
Futurist and economic researcher Chris Martenson says we are not at the end of a business cycle but “. . . at the end of a credit cycle.”
Martenson warns, “Here’s why people need to be concerned. Credit cycles, when they blow up, are really, really destructive…”
“2008 to 2009 was very destructive. Instead of realizing the error of their ways, they went for a third. This is the most comprehensive credit cycle that we have seen. Remember, bubbles have two things that they need. Number one, a good story that people can believe in and, of course, it’s a false story. Number two, ample credit. That’s what the Fed and central banks of Japan and Europe have done. They just flooded the world with credit. Now, we have bubbles everywhere. When these burst, it will be the worst bursting in anybody’s lifetime because we have never seen anything like this.”
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Martenson says a debt reset is locked in, and somebody is going to pay.
“When you have as much debt that the United States has… the overall debt level in the United States, including auto loans, mortgages, consumer debt, student loans and corporate debt and whatever, we’re sitting at about $60 trillion right now. It’s a huge number, and when you get to this level of indebtedness, plus those unfunded or underfunded liabilities…when you get to this level of indebtedness, there is really only one question left to be resolved, and that is who is going to eat the losses. That’s it.
So, when you start asking that question, the banks and people writing the laws are pretty sure they are not going to take the losses. The person relying on the pension is the person that is going to eat the losses. . . . There is no way to make this work. Here’s where the social tension comes in. Even as ordinary middle class people are being destroyed in this process, the rich are taking more and more out of the system. That is courtesy of the policies of the Federal Reserve…
But the big risk is when these printing sprees, these credit cycles finally burst. They are wildly destructive. They are fast. They are hard. They are sharp and they hurt.”
Martenson says people can protect themselves with real assets as opposed to paper assets. Martenson says,
“Real assets are the place you need to be if and when a paper tower comes crumbling down. I am diversified myself. I believe in land. I believe in real estate. I believe in gold. I believe in silver. I believe in other metals. I believe in these hard assets because this is where we are going to have to hide out because if you held hard assets in Turkey, in Venezuela, in Argentina and in places where the currency collapsed and declined, these would have been great places to be hiding out…
When this worm turns, it’s going to be a lot faster than it has in the past. There is no free lunch, and if you can see that, there is a wealth transfer coming. The wealth transfer is going to have a bright red line, and people are going to get trapped on the side where they hold paper claims, and the people that are going to preserve their wealth are going to be on the other side of the line with their wealth tied up in real things. That’s the period of history that is about to unfold.”
Chris Martenson added this ominous statement: “We are one sinking of an aircraft carrier away from the U.S. dollar being revealed as a fraud.”
Join Greg Hunter as he goes One-on-One with Chris Martenson of PeakProsperity.com.
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