Wehrwolfen
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By Tom Quiggin
9-9-13
Being a saver will be punished by the takers.
The Savers: Those with a savings account, a personal retirement fund, a pension fund, equity in their homes or other cash assets.
The Takers: Governments with unreasonably high debt levels, supra-international institutions such as the EU, Central Banks, and financial institutions.
Reduced to its most basic, the financial crisis that started in 2008 and what we now see in 2013 has occurred because of unsustainable debt. Governments at all levels have been on a spending spree since the mid-1980s and they have outspent their ability to raise revenue. They have run out of tax money and have used up most of accounting tricks which allow them to kick the debt can down the road. At the same time, the large commercial banks have allowed themselves to become “over-leveraged.” This is a polite way of saying they took a series of incredibly high risks with saver’s money and now those risks are at a substantial risk of blowing up. They also have huge exposure or potential loses through derivatives as well. Derivatives are seen as weapons of mass destruction in the financial community.
Stripped of all the economic, financial and governmental jargon, here is the issue and why you should be afraid if you are a saver.
1. Governments are holding massive debts and unfunded liabilities and they need more money.
2. Banks are over leveraged and they need/want more money to prop up their risks.
3. Savers have cash and other assets.
4. Governments and banks will change the rules so they can take this cash and other assets.
5. Savers will lose their money and debtors will gain from this.
How are they taking your money? Sometimes it is quite clear and other times it is difficult to appreciate what they are doing to you. However, here are the main ways it is happening:
[Excerpt]
Read more:
The Savers versus the Takers: Potential Social Unrest | Broken Mirrors
Looks like the retied people of Poland will soon lose their retirement savings. How long before Obama makes the same proclamation.
9-9-13
Being a saver will be punished by the takers.
The Savers: Those with a savings account, a personal retirement fund, a pension fund, equity in their homes or other cash assets.
The Takers: Governments with unreasonably high debt levels, supra-international institutions such as the EU, Central Banks, and financial institutions.
Reduced to its most basic, the financial crisis that started in 2008 and what we now see in 2013 has occurred because of unsustainable debt. Governments at all levels have been on a spending spree since the mid-1980s and they have outspent their ability to raise revenue. They have run out of tax money and have used up most of accounting tricks which allow them to kick the debt can down the road. At the same time, the large commercial banks have allowed themselves to become “over-leveraged.” This is a polite way of saying they took a series of incredibly high risks with saver’s money and now those risks are at a substantial risk of blowing up. They also have huge exposure or potential loses through derivatives as well. Derivatives are seen as weapons of mass destruction in the financial community.
Stripped of all the economic, financial and governmental jargon, here is the issue and why you should be afraid if you are a saver.
1. Governments are holding massive debts and unfunded liabilities and they need more money.
2. Banks are over leveraged and they need/want more money to prop up their risks.
3. Savers have cash and other assets.
4. Governments and banks will change the rules so they can take this cash and other assets.
5. Savers will lose their money and debtors will gain from this.
How are they taking your money? Sometimes it is quite clear and other times it is difficult to appreciate what they are doing to you. However, here are the main ways it is happening:
[Excerpt]
Read more:
The Savers versus the Takers: Potential Social Unrest | Broken Mirrors
Looks like the retied people of Poland will soon lose their retirement savings. How long before Obama makes the same proclamation.
