Try, Try Again!
...but then again, the definition of insanity is doing the same thing over and over again, and expecting a different result. However this is
apparently the "logic" being used by the world's financial "experts". They believe that through loans, bailouts, and stimulus packages they can
keep everyone worldwide afloat, and the debt will be dealt with later. But this idea has already been tried once, and it didn't work! Anyone recall
the last great Russian economic collapse, that they are still recovering from...
On March 23, 1998, five months before the Russian government's default on its international and domestic debts led to the nation's complete economic
collapse, Viktor Chernomyrdin was fired as Prime Minister. The allegations of corruption against him had only reinforced the public impression that
the policy of a handful of powerful Russian officials was not the construction of a free enterprise system, but rather the subversion of the public
good through crony capitalism.
(emphasis mine) Is this scenario sounding familiar already? However in the western world's case, the crony capitalist system is just being continued
rather than constructed. We bailed out Russia continuously throughout this period through IMF loans. Al Gore was VP at the time, and a player in the
takedown of Russia. He was a partner with Chernomyrdin in the Gore-Chernomyrdin commission. They, along with a select few other elites, effectively
looted the entire country. The bailouts in America were one of the greatest transfers of wealth in history. All the while, in Russia then and
worldwide now, the money and the dubious optimism kept flowing...
"We have a significant opportunity to use the leverage of IMF financing to help the Russian government," Rubin wrote to then-House Speaker Newt
Gingrich on July 28, 1998. "The basics are all in the right direction," Stanley Fischer, the IMF's Deputy Managing Director, said the same day. The
administration successfully forced the $18 billion through Congress. The reality of the situation, however, was that the Russian economy had already
begun to collapse. The stock market was plunging. The day before Rubin's letter to the Speaker of the House and the IMF's blindly upbeat assessment,
the market had suffered a 9% drop. "It's looking ugly," said one Western economist on July 27. Said another Western investment strategist: "We're
sitting and watching this in shock and horror."
Over the next two weeks, the deterioration continued. Finally, on August 17--one month after the latest bailout--the roof caved in.
They couldn't pay back their loans and the whole house of cards came crashing down at lightning speed. This may be the scenario we are facing here in
the next few years.
Russia's Road to Collapse
The Russian government announced that it would no longer be able to pay its official debts. The ruble was devalued at the same time. The default,
coupled with the devaluation of the ruble after years of promises that this would not occur, led to Russia's total economic collapse--a cataclysm by
all measurements worse than America's Crash of 1929.
What was it Gerald Celente predicted for us today? The Greatest Depression
. Now, however, it will be global. If Russia is any indicator, things
worldwide could get very, very ugly. The average person lost 75% of their savings, and the healthcare in Russia was practically nonexistent. Food
became hard to come by, banks hired guards that escorted people in, usually to tell them they had nothing left. Russia's population began falling,
and has fallen over 10 million since 1998.
What is so different about the European and North American markets? Sure, there are many key differences. Russia was coming out of nearly a century of
communism. Conditions started off worse than they did here before our economies began to fall apart.
Now what are the similarities? Their economy was looted by a select few elites. Their leaders were either complicit in what should be financial crimes
or too incompetent or scared to stop them, and they are usually corrupt. All of our economies began falling apart and were only "saved" by bailouts,
stimulus packages, and IMF loans. These loans created more debt. It is only a matter of time until a country has to come out and say, there is no way
we can repay this, ever. I believe Greece was close until they extended the timeframe, but I still don't know how they will repay their debt.
So, again, the definition of insanity... You see where I'm going with this. Lets look at the possibilities for what could be happening, what will
happen, and why. Possibility 1) The worlds financial leaders have no idea what to do, and they really rely on keynesian economics and fractional
reserve banking alone for economic stability. The world economies will implode and probably wars will be started in an effort to create a boom cycle.
(Wars are used for economic reasons, see the resigned German president's remarks). This scenario means that we are in for a horrible collapse and
possible world war. This scenario also assumes that this was not planned.
2) Russia was a test run for an engineered global meltdown. This scenario has been planned or planned for. It will be used to bring about a global
financial government, leading to a global energy government, leading to a global political government. All countries that have been brought to their
knees by fractional reserve banking will be offered a 'get out of debt free' solution. This solution involves a new paperless currency that will be
put in countries that accept it worldwide. Their debts will be paid or written off by the IMF and world bank, which will manage this new global
economic union. Its all fiat anyway, so lets just write it off. Countries will be so desperate they will have to give in to this union. The ones that
do not will fall completely into ruin. This new system will not trade with holdout countries who will then be forced to join in later.
These two scenarios are speculative, but I believe they will come to be true to some degree. A crash is imminent. Expect to see elites getting richer
and more powerful. Anyways, what do you think will happen? Do you think this is an accurate summary of the global economy now compared to Russia then,
or have I missed any major factors?
[edit on 31-5-2010 by time91]
[edit on 31-5-2010 by time91]