Re: One-world reserve currency inevitable and will enslave all nations?
On Secular Stagnation: A Response to Bernanke
Central banks have backstopped and prevented defaults to the $250 trillion of global debt.
So there is $250 trillion in debt sloshing around the world and yet Summers refers to this as "capital".
So his "solution" is NIRP and a cashless society to prevent anyone from escaping paying negative interest rates on their wealth. And use this resource extraction to continue to backstop the $250 trillion of debt in the world. In order words, Summers thinks we are stupid enough to be a dog chasing our tail wherein the excess "capital" is money we are expropriating from ourselves to prop up "capital" that would otherwise evaporate in a contagion of defaults. And then claim this excess capital that we stole from ourselves (via NIRP) is what is causing the excessive market demand for return of capital (aka safe haven) and thus NIRP.
This is the definition of insanity. And he isn't stupid enough to believe his nonsense. He is obviously scamming us.
Obama Is Targeting Your Retirement Accounts
Canada to Fingerprint Foreign Travelers
Canadas Hunt for Cash Turns Against Trading Profits in Retirement Funds
Quote from: Larry Summers @ NWO
Ben Bernanke has inaugurated his blog with a set of thoughtful observations on the determinants of real interest rates (see his post here) and the secular stagnation hypothesis that I have invoked in an effort to understand recent macroeconomic developments. I agree with much of what Ben writes and would highlight in particular his recognition that the Fed is in a sense a follower rather than a leader with respect to real interest rates since they are determined by broad factors bearing on the supply and demand for capital and his recognition that equilibrium real rates appear to have been trending downward for quite some time.
Central banks have backstopped and prevented defaults to the $250 trillion of global debt.
So there is $250 trillion in debt sloshing around the world and yet Summers refers to this as "capital".
So his "solution" is NIRP and a cashless society to prevent anyone from escaping paying negative interest rates on their wealth. And use this resource extraction to continue to backstop the $250 trillion of debt in the world. In order words, Summers thinks we are stupid enough to be a dog chasing our tail wherein the excess "capital" is money we are expropriating from ourselves to prop up "capital" that would otherwise evaporate in a contagion of defaults. And then claim this excess capital that we stole from ourselves (via NIRP) is what is causing the excessive market demand for return of capital (aka safe haven) and thus NIRP.
This is the definition of insanity. And he isn't stupid enough to believe his nonsense. He is obviously scamming us.
Obama Is Targeting Your Retirement Accounts
Quote
He buys into the problem that the people are saving too much, and is using this to entertain the idea of placing a cap on how much an individual is allowed to contribute to their retirement plan. Additionally, he is considering adding a 10% or so tax on your 401k or IRA account.
Canada to Fingerprint Foreign Travelers
Canadas Hunt for Cash Turns Against Trading Profits in Retirement Funds
Quote
The Canadian tax man is looking at trading in retirement accounts and redefining them as businesses in order to demand taxes.