To recoup the debt, the government increase the cost of living, the higher the cost of living the more money has to be created and circulated, the more money that is created and circulated the higher the debt, the higher the debt the higher the cost of living...... Making the currency worthless surely?
In the nineteen twenties masses of cheap money flooded the country.
Everyone was partying it was boom time and the 1920's are looked back on as a golden era because of it.
Then the bankers cut off the supply of cheap credit they had started.
Credit crunch time.
Everything fell apart.
The bankers hoovered up all the property and twenty five thousand banks ... not branches but banking corporations with huge assets went bust and were swallowed up by the big guys ... everything fell into fewer hands. Even gold was hoovered up and the bankers got congress to make it illegal in the land of the free for the public to own gold. Ten years in jail if you were caught.
Economists now look back on those events as the first scientifically engineered economic collapse.
The same banking families have just repeated it but this time flooded the entire western world with cheap money and then cut the credit.
Credit crunch.
The wealthiest people on the planet are hoovering up the gold the pensions the benefits everything ... me and you are the suckers.
The austerity is only for people below the few million mark ... everyone above it is getting richer faster than ever and the gap between rich and poor is accelerating.
Am I imagining these events?
No and you know I'm not
Mervin King the ex boss of the Bank of England has made numerous speeches in which he says ... the economic problems have nothing to do with benefits pensions government borrowing and spending and everything to do with bankers ... with people like him.
In his speeches he says he is amazed the public haven't risen up with revolutionary zeal but ... the public are dazed by the corporate media with all manner of stories and distractions as to the truth of what happened.
Did you know there were laws enacted to make it impossible for the bankers to ever do this again?
In America ... Google all this if you doubt it's real ... the Glass Steagal act was enacted.
Similar preventions were put in place across the western world.
The bankers could never loot the world in that fashion again.
Before Clinton left office he binned the Glass Steagal act and other financial safety nets to allow the casino to run again.
The rest of the western world had to follow suit to have a chance of keeping up.
Blair could announce let the good times roll.
Then the credit was switched off.
Crunch time ... for us peasants.
A couple of trillion dollars have been printed up across America Asia Europe Japan and ... handed to the bankers.
This imaginary paper/digital money they know to be just numbers on a screen ... pieces of paper with pictures of dead presidents on and nothing more so why would they want a couple of trillion dollars worth of it?
They have gone around the world turning that pretty paper into real tangible assets ... gold property shipping oil diamonds land nations weapons wheat etc etc.
You're getting poorer they are creaming it in like the party isn't never gonna end.
Long post simplified to shorten it as much as possible.
I'm sure there will be people who dispute it but there's my tuppence worth ... or is it billions worth?
Edited becaue a lot of that post got doubled somehow!