we had trouble in Russia with President Putin
so we sent an envoy out with a message from the Queen,
to stay the invasion but Putin answered NO!
till a card was sent from the viet Gwent,
The Pontypool Front Row.
THE EU GREEN DEAL – THE GROWTH STRATEGY FOR THE “4IR”#VONDERLEYENSTRANGELOVE #WRONGKINDOFGREEN
MOSDEFNEWWORLDWATER
2 Responses to “The Chinese Debt Dilemma… Ta Daaaah!”
rogerglewis Says: Your comment is awaiting moderation.
October 5, 2020 at 7:08 am | Reply
Reblogged this on Not The Grub Street Journal and commented:
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October 5, 2020 at 7:06 am | Reply
Morning Guido,
Greetings from Sweden.
This paper I found very good.
I was reading this from David saw your comments and thought I would drop by.
guidoamm July 21, 2014 at 3:16 pm #
Arithmetically speaking, yes. The implosion is inevitable.
Ours is a monetary system predicated on debt. Since we seem hell bent on tweaking and modifying everything under the sun except the monetary system, we must assume that this is the construct we are going to labor under till further notice… (to be kept in mind for the purposes of this discussion).
Under this monetary system, there are only three things you can do with debt:
a) you can increase the debt provided that each new unit of debt gives you at least one unit of GDP
b) you pay the debt off
c) you have the debt written off
The moment that each new unit of debt gives you less than one unit of GDP, you are then left with options b & c
Regardless of how you calculate GDP, option “a” is off the table today. In fact, TARP and the various iterations of QE along with Draghi’s Outright Purchases or Abe’s Three Arrows were stratagems aimed at presumably addressing this very issue. These stratagems have clearly failed in that particular regard.
What we are left with therefore are options b & c.
Options b & c both require coercion however.
At this point it is useful to keep in mind that most people think that the West’s largest creditors are countries like China & Japan. That is false of course.
The largest holders of Western sovereign debt are Western citizens through their pension and insurance funds.
Thus today the choice is to either have the debt paid off or written off.
Clearly, even by confiscating the wealth and property of the entirety of society, Western sovereigns would still be short a few Trillion to repay all creditors. And even assuming they could confiscate the wealth and property of Western citizens along with that of Japan and China and other holders of Western debt, they would still be a few bob short.
We can safely assume that the debt will not be paid off therefore. There are neither plans nor are there suggestions emanating from anywhere or anyone in this galaxy that suggest Western society should have their pensions and insurance funds refunded. Certainly, no Western government is mulling the idea of repaying a foreign sovereign either.
So option “a” is a non starter not least because, other than the above, it would call for a drastic reduction in government too. Can you see politicians and civil servants willingly relinquishing their positions…???
I did not think so.
As a by-the-by, at this point, the latest suggestions emanating from the IMF that advocate the confiscation of pension funds to make good on the debt come into focus. Incidentally, this is not the first time the IMF has put forward similar ideas in the past three years.
You are now left with option “b” therefore.
The trouble with option “b” is that when you work through the numbers, the ramifications are rather dark and violent….
Getting the debt written off is going to be ugly, violent and bloody.
We have already started incidentally.
To make a long story short however, here is where we are going (skipping a few connecting dots).
By inducing macro instability at the monetary level, all those countries that accept US Dollars as reserves are correspondingly destabilised. Destabilisation will manifest in the break-down of all those equilibria that existed at the social, political, ethnic, territorial and religious levels. Socio/economic/religious/political instability brings about strife and destruction.
In light of where global industrial capacity is located, my speculation is that in the next fifteen years we are going to induce the complete destruction of the infrastructure and industrial capacity of South and South-East Asia. Schools, bridges, roads, hospitals, factories, water depuration stations. The entire gamut of infrastructure will be obliterated.
This will take care of a chunk of the “writing off the debt” side of the equation.
That done, we are going to be left with handling the issue of our own creditors at home. All those people that have paid their taxes and have contributed to their pension and insurance funds and that today fully intend on claiming their services from the sovereign.
Yet, the funds are not there. The funds never were there in the first place and they are not there today.
So, what do you do?
What do you do when the unemployed, homeless and soon hungry throngs will be roaming the streets???
TUSKEGEE #626 GIL SCOTT HERON #5G #COVID-19
THE EMPERORS NEW CLOTHES, RUSSEL BRAND
SHOWDOWN IN SEATTLE (1999)
KILLING JOKE – I AM THE VIRUS (LYRIC VIDEO), THIS IS AN ORANGE, #CRONYCAPITALISTVIRUS2020
WUHAN AND HIS DOG, PARODY ONE MAN AND HIS DOG
IF DIRT WERE DOLLARS , DON HENLEY.
Hell Hath No Fury Like An Amero-Zionist Scorned #DumberandDouma #RusdsianCollusion #GoldenShowers #
COVID-19 VACCINES KILLS 7 INFANTS IN SENEGAL
IMF INCONTINENCE + LAGARDE INCOMPETENCE = NASTY MESS: Just add conoronavirus for disaster
HACKING DEMOCRACY 2006 #STOPTHESTEAL
IAN BLACKFORD SNP DEEP STATE STOOGE. THE PIPELINE WARS #SYRIA
THE PLAN TO RULE THE WORLD – MICHAEL COFFMAN
ITS A DIGITAL BANK PASSPORT NOT A VACCINE PASSPORT #QED. #NAOMIWOLF @NAOMIRWOLF
RISE OF THE RUSSBOTS, THE STRANGLERS FAKE NEWS ANTHEM.
COLLUSION, ‘HOW CENTRAL BANKERS RIGGED THE WORLD’ COMPANION SONG ‘YOU & ME’ BY DANNY MCGAW
Don Henleys Classic from 1989’s End Of Innocence Album
At present, we are ruled by an extreme version of capitalism called ‘neoliberalism’. Technology in the service of any extremism has a catastrophic history.”
― JohnPilger
The Third Phillipic and Donald Trumps Iran Deal withdrawal. Where is Demontheses when we need him?
LUKE WRIGHT, ONCE YOU BURY THE BODIES . POEM FOR BOJO
#CONQUESTOFDOUGH MULTI MEDIA NOVEL CHAPTER 5 READING
RANJAN AND ROG, THE BLACK NOBILITY, WHOS IN THE CLUB
The few get richer the many poorer a process that requires oppression.
SECRET FILMING | MILITARY JUNTA | GENERAL PINOCHET | CHILEAN REVOLUTION | THIS WEEK | 1977
There is another Chile, For those who accept, even enjoy dictatorship?
This elite lives well, better than ever. Their problem is where not what to eat?
The armed forces, the new upper class have high salaries, special schools, their own hospitals, and new housing estates. And their allies, able financiers, and obedient civil servants are equally at ease. And they have a reason, those who guide Chile’s destiny have devised a pure and precise means of keeping themselves on top forever if it works. Chile has become an accountant’s paradise
the regime is obsessed with balancing the nation’s books and no more. They wish the law of the jungle to prevail, that the strong should destroy the weak so monopolies grow and bankruptcies and therefore the ranks of the unemployed. The carcass of the economy is left for speculators to pick at.
Yet there is a boom in Santiago at first glance. The elite has never had it so good, the city is awash
foreign luxuries that only they can afford, How? By the export of hunger. The elite rides the slump pays starvation wages and sells cheaply abroad, earns foreign exchange buys foreign goods and the books remain in balance. The few get richer the many poorer, a process that requires oppression.
THE PESKY RUSKIES HACKED OUR SERVERS, FROM CLIMATEGATE TO PIZZAGATE, THE #WRONGKINDOFGREEN SCAM!
IS OUR POLTICAL IGNORANCE, OUR GREATEST THREAT? IAN R CRANE
If we want to avoid Auschwitz in the future, we must abolish situations in which a human being may classify and discriminate other ones upon absolute, arbitrary criteria. In other words, we must extend the Relativistic Reason over the human/social domain and may admit only relative, demonstrable propositions in this domain as well. This calls, of course, into question nearly all established ideological and political structures, which are based upon absolute principles.
We live in an Auschwitz-friendly world and if we want to avoid Auschwitz in the future, we have to call into question its essential principles.
But do we want it really?
IMF INCONTINENCE + LAGARDE INCOMPETENCE = NASTY MESS: Just add conoronavirus for disaster
Sweden Switches Sides ( Dagen H (H day) #Swexit #PeakOil, Geo-Politics and False Narratives.
rogerglewis
on March 12, 2022 at 4:47 pm said:
Your comment is awaiting moderation.
Social control based upon debt contracts is the financial technology that existing power structures rely upon. Sadly it would seem that far from saving the planet the objective of Green policies seems to preserve social control mechanisms through debt denominated in Carbon rather than looking at a form of added value accounting for combining energy inputs with resources to produce Essentials, or indeed to produce discretionary luxuries.
As long as the Carbon books show net zero emissions the few will continue to get richer and the many will grow poorer or expire. As the quote from Richard Dimbleby below points out this is a process ” that requires oppression.”
From 13mins 30.
“There is another Chile, For those who accept, even enjoy dictatorship?
This elite lives well, better than ever. Their problem is where not what to eat?
The armed forces, the new upper class have high salaries, special schools, their own hospitals, and new housing estates. And their allies, able financiers, and obedient civil servants are equally at ease. And they have a reason, those who guide Chile’s destiny have devised a pure and precise means of keeping themselves on top forever if it works. Chile has become an accountant’s paradise
the regime is obsessed with balancing the nation’s books and no more. They wish the law of the jungle to prevail, that the strong should destroy the weak so monopolies grow and bankruptcies and therefore the ranks of the unemployed. The carcass of the economy is left for speculators to pick at.
Yet there is a boom in Santiago at first glance. The elite has never had it so good, the city is awash
foreign luxuries that only they can afford, How? By the export of hunger. The elite rides the slump pays starvation wages and sells cheaply abroad, earns foreign exchange buys foreign goods and the books remain in balance. The few get richer the many poorer, a process that requires oppression.”
“The crude oil and natural gas markets have a long colorful history. To understand
them, one needs some economic theory. The dominant view, of a fixed mineral stock, implies that a unit produced today means one less in the future. As
mankind approaches the limit, it must exert ever more effort per unit recovered.
This concept is false, whether stated as common sense or as an elegant theory. Under competition, the price results from the endless struggle between depletion and
increasing knowledge. But sellers may try to control the market in order to offer
less and charge more. The political results may feedback upon market behavior.
These factors—depletion, knowledge, monopoly, and politics—must be analyzed
separately before being put together to capture a slice of a changing history”
Maurice Adelman.
2 thoughts on “Here We go , here we go, Here we go! and How we got here?”