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I should have realized this earlier. It seems obvious.
When The Financial Powers That Be (TFPTB) took down other nations, they had their major banks, such as Citi, BofA and JPMorgan, first extend much debt to the victim nation, then sharply cut off funding. This sent the victim into a financial crisis, leading to social unrest from out of work people no longer able to pay for their food, clothing or housing, and angry that some sort of banking fraud had deprived them of their savings. The crisis was resolved by the nation's political "leaders" signing over the country into debt slavery. Any property or future income stream worth mentioning was "privatized", going to one of a few corporate oligarchs. Any government social expense, such as welfare or pensions, was minimized, so that as much of the taxes collected as possible could go toward paying on the debt, to the afore mentioned banks.
Well, the citizens of U.S. would not exactly accept being sold into slavery for debt owed to some banks. "Those are our banks; if they can't behave we should nationalize them and imprison their executive officers, not let them privatize us!"
But it looks like we will accept being sold off into debt slavery over debts owed to the Federal Reserve, China and Japan.
Recall that the Federal Reserve is another wholly owned subsidiary of TFPTB. In reality, though perhaps not some legal detail, it ultimately answers to the Financial Powers, not to the U.S. Congress. The U.S. Dollar is not really the "U.S." Dollar. They are "Federal Reserve Notes (FRNs)." The Fed, a wholly owned subsidiary of TFPTB, already has a de facto world currency, the FRN. The U.S. paper in this scenario is U.S. Treasury, Fannie and Freddie debt, and the U.S. is going down baby, down on its knees. So in the case of the U.S., just replace the afore mentioned banks with the Federal Reserve, rinse, lather and repeat, mutatis mutandis.
So here's how I think it goes down.
First we spend some more time piling up U.S. government debt paper on the books of the Fed.
Then at some point, the Fed starts to complain that it can't keep piling on U.S. debt. This provokes massive sales of U.S. debt by the Fed, China and Japan, in some rapid sequence and no doubt with misdirection as to who sold what first. This body slams the U.S. debt paper market. The U.S. gets desperate quickly. Congress cuts payments wherever it can, in order to meet the rapidly increasing interest charges and to minimize accruing further debt. This pisses off the populace. When you're out of work, no longer collecting even a government benefit check and can't feed your child, you get riled up easily at any big shot institution that apparently stole your prosperity.
This social unrest is already anticipated, and cracked down on hard by militarized police forces nation wide. Any citizen (or cow ?!) previously identified as someone unlikely to "get with the program" is likely to get visited late at night by some strong young men. Unfortunately, these men always seem to forget to bring the beer. If the Muslim nations from North Africa through to Indonesia haven't succumbed sufficiently yet (likely the case) then the U.S. finds or invents an excuse to escalate the wars on that front dramatically, as both a diversion from the home front and as a necessary step in bringing these Muslim nations on board (or deep sixing them) as well.
... the part above seems more likely to me, the part below more speculative ...
This time, the U.S. President does not recall gold. He recalls the Dollar (which has just lost much value, due to the monetization of a substantial portion of the U.S. debt.) It is replaced by another instrument, perhaps issued by some other wholly owned subsidiary of TFPTB. The U.S. Dollar was already the nearest thing to a world currency. This exchange makes manifest what has been hidden this last century, that TFPTB issue the world's reserve currency. U.S. debt is partially defaulted in this exchange. That debt includes the Social Security "Trust Fund" IOU's issued by the Treasury; so Social Security payments are repriced downward as part of this. Any other pension funding within arms reach of Washington, DC gets hit as well. This Dollar recall allows further fine tuning of who wins, who loses. The Dollar swap is one-to-one for the new currency, to reassure Americans. The partial defaults come on the debt side, not the currency side. In particular, those lucky enough (the Fed, Japan and China, and a few big banks, I'd guess) to cash in on the above massive monetization get out one-to-one. Those still holding U.S. debt (e.g. the Social Security "Trust Fund") get short changed.
Taxes, fees, gas prices and oppression go up; benefits and freedom go down.
Gold fails as an insurance policy through this crisis, just as a fire insurance policy fails on your business, after the Mafia takes over your neighborhood, your local and state government and your insurance company. If I see the Fed start to seriously complain that it can't keep taking on more U.S. debt, then (if I still believe this conspiracy theory) I'm selling most of my gold and stocking my spare bedroom to the rafters with rice, beans, toilet paper, and, for trade, cigarettes and liquor. Of course I keep some gold; one never knows the future for sure, so should not put all ones eggs in one basket. Maybe I'll stock a few six packs of beer as well, just in case some strong young men come to visit me late at night. Hopefully there's a cute female in the visiting group.
P.S. -- The escalation of the Middle East wars may happen sooner than suggested above, as part of increasing the U.S. debt burden. It seems that we (the U.S.) are already maneuvering for a war with Pakistan.
When The Financial Powers That Be (TFPTB) took down other nations, they had their major banks, such as Citi, BofA and JPMorgan, first extend much debt to the victim nation, then sharply cut off funding. This sent the victim into a financial crisis, leading to social unrest from out of work people no longer able to pay for their food, clothing or housing, and angry that some sort of banking fraud had deprived them of their savings. The crisis was resolved by the nation's political "leaders" signing over the country into debt slavery. Any property or future income stream worth mentioning was "privatized", going to one of a few corporate oligarchs. Any government social expense, such as welfare or pensions, was minimized, so that as much of the taxes collected as possible could go toward paying on the debt, to the afore mentioned banks.
Well, the citizens of U.S. would not exactly accept being sold into slavery for debt owed to some banks. "Those are our banks; if they can't behave we should nationalize them and imprison their executive officers, not let them privatize us!"
But it looks like we will accept being sold off into debt slavery over debts owed to the Federal Reserve, China and Japan.
Recall that the Federal Reserve is another wholly owned subsidiary of TFPTB. In reality, though perhaps not some legal detail, it ultimately answers to the Financial Powers, not to the U.S. Congress. The U.S. Dollar is not really the "U.S." Dollar. They are "Federal Reserve Notes (FRNs)." The Fed, a wholly owned subsidiary of TFPTB, already has a de facto world currency, the FRN. The U.S. paper in this scenario is U.S. Treasury, Fannie and Freddie debt, and the U.S. is going down baby, down on its knees. So in the case of the U.S., just replace the afore mentioned banks with the Federal Reserve, rinse, lather and repeat, mutatis mutandis.
So here's how I think it goes down.
First we spend some more time piling up U.S. government debt paper on the books of the Fed.
Then at some point, the Fed starts to complain that it can't keep piling on U.S. debt. This provokes massive sales of U.S. debt by the Fed, China and Japan, in some rapid sequence and no doubt with misdirection as to who sold what first. This body slams the U.S. debt paper market. The U.S. gets desperate quickly. Congress cuts payments wherever it can, in order to meet the rapidly increasing interest charges and to minimize accruing further debt. This pisses off the populace. When you're out of work, no longer collecting even a government benefit check and can't feed your child, you get riled up easily at any big shot institution that apparently stole your prosperity.
This social unrest is already anticipated, and cracked down on hard by militarized police forces nation wide. Any citizen (or cow ?!) previously identified as someone unlikely to "get with the program" is likely to get visited late at night by some strong young men. Unfortunately, these men always seem to forget to bring the beer. If the Muslim nations from North Africa through to Indonesia haven't succumbed sufficiently yet (likely the case) then the U.S. finds or invents an excuse to escalate the wars on that front dramatically, as both a diversion from the home front and as a necessary step in bringing these Muslim nations on board (or deep sixing them) as well.
... the part above seems more likely to me, the part below more speculative ...
This time, the U.S. President does not recall gold. He recalls the Dollar (which has just lost much value, due to the monetization of a substantial portion of the U.S. debt.) It is replaced by another instrument, perhaps issued by some other wholly owned subsidiary of TFPTB. The U.S. Dollar was already the nearest thing to a world currency. This exchange makes manifest what has been hidden this last century, that TFPTB issue the world's reserve currency. U.S. debt is partially defaulted in this exchange. That debt includes the Social Security "Trust Fund" IOU's issued by the Treasury; so Social Security payments are repriced downward as part of this. Any other pension funding within arms reach of Washington, DC gets hit as well. This Dollar recall allows further fine tuning of who wins, who loses. The Dollar swap is one-to-one for the new currency, to reassure Americans. The partial defaults come on the debt side, not the currency side. In particular, those lucky enough (the Fed, Japan and China, and a few big banks, I'd guess) to cash in on the above massive monetization get out one-to-one. Those still holding U.S. debt (e.g. the Social Security "Trust Fund") get short changed.
Taxes, fees, gas prices and oppression go up; benefits and freedom go down.
Gold fails as an insurance policy through this crisis, just as a fire insurance policy fails on your business, after the Mafia takes over your neighborhood, your local and state government and your insurance company. If I see the Fed start to seriously complain that it can't keep taking on more U.S. debt, then (if I still believe this conspiracy theory) I'm selling most of my gold and stocking my spare bedroom to the rafters with rice, beans, toilet paper, and, for trade, cigarettes and liquor. Of course I keep some gold; one never knows the future for sure, so should not put all ones eggs in one basket. Maybe I'll stock a few six packs of beer as well, just in case some strong young men come to visit me late at night. Hopefully there's a cute female in the visiting group.
P.S. -- The escalation of the Middle East wars may happen sooner than suggested above, as part of increasing the U.S. debt burden. It seems that we (the U.S.) are already maneuvering for a war with Pakistan.
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