The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers. Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation. As the elite get governments around the globe in increasing amounts of debt, those governments must raise taxes in order to keep servicing those debts. In the end, it is all about taking money from us and transferring it into government pockets, and then taking money from government pockets and transferring it into the hands of the elite. It is a game that has been going on for generations, and it is time for humanity to say that enough is enough. According to the Institute of International Finance, global debt has now reached a new all-time record high of 217 trillion dollars… Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327 percent of the world’s annual
The pinnacle of the global financial system is warning that conditions are right for a “full-blown banking crisis” in China. Since the last financial crisis, there has been a credit boom in China that is really unprecedented in world history. At this point the total value of all outstanding loans in China has hit a grand total of more than 28 trillion dollars. That is essentially equivalent to the commercial banking systems of the United States and Japan combined. While it is true that government debt is under control in China, corporate debt is now 171 percent of GDP, and it is only a matter of time before that debt bubble horribly bursts. The situation in China has already grown so dire that the Bank for International Settlements is sounding the alarm… A key gauge of credit vulnerability is now three times over the danger threshold and has continued to deteriorate, despite pledges by Chinese premier Li Keqiang to wean the economy off debt-driven growth before it is too late.
That’s part of an evolving proposal Beijing has been developing quietly since 2009 to convert more than $1 trillion of U.S debt it owns into equity. Under the plan, China would own U.S. businesses, U.S. infrastructure and U.S. high-value land, all with a U.S. government guarantee against loss.
Most people like their truth palatable, easy to digest, and believable. Unfortunately for our emotional needs, some truths are uncomfortable, unsettling, and difficult. Regarding the United States, the U.K., Europe, and Japan IT IS COMFORTING TO BELIEVE: Debt has increased exponentially for decades, and in the case of the US, for over 100 years. It […]
In this episode of teleSUR’s Days of Revolt, Chris Hedges continues his discussion with UMKC economics professor Michael Hudson on his new book Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy
Ken O’Keefe exposes the Financial System ! Logical and Best Explained.
Source: From Darkness To Light
The euro is a sure bet to join the ranks of many hundreds of defunct paper currencies.
National Debt Clocks has Real Time Debt Clocks from around the world calculated from the latest official data available