The Gulags of old Russia may be gone but a new Gulag holds everyone in a prison.  Every time I hear an elitist say we can’t go back I cringe and grind my teeth until my wife insists I stop that irritating sound.  Debt is the prison and we are the prisoners.  We are the slaves.  There was a time and place in history when personal and government debt did not exist.

In the early 20^th century with the advent of electric washing machines, electric stoves and toasters you could put five dollars down on an item and pay the balance later. In the 60s it was layaway plans holding sway. You paid a bit here and there until the bill was fully paid and you brought home your purchase.  You could buy a three bedroom home for two thousand dollars.  That same home today, with the same foundation, the original wood and brick is worth three hundred thousand dollars.  I know because I own one of them.  The reason the elitist refuse to go back to an entity that worked is because they will no longer be elite.  People saved money in those days for a rainy day, while today no one can save a dime because of debt or by having it tied up in the Ponzi schemes run by markets.  Whether it is personal debt or government debt we are slaves to it.

Pin pointing blame for this slavery is a daunting task.  But broadly speaking, much of the current economic crisis is linked to the politics of money.  Take your pick; free trade, everything from people to the grass seed you put on your lawn is a commodity, or the crooks on Wall Street.  The Federal Reserve has a new name-it’s called J.P. Morgan.  What you did not see on the mainstream news on the weekend was 16 trillion dollars being printed and handed over the banks before they collapsed on Saturday afternoon.   What you did see were grade three children (Congress) playing cat and mouse games with a debt ceiling increase.  It is so phony you can cut it with a knife. It’s Hollywood like never before only the actors are sick puppies. The Americans have suffered three lost decades. They will raise the debt ceiling, it a charade, and then collapse. No one will admit (except me of course) the empire is falling.  How many times does it have to be said?  Weimar Germany 1924, 25, Bosnia, Argentina, and Iceland all met the same fate. The best example is still the Roman Empire having overtaxed their military.  At a Billion a day the Americans are doing the same. Don’t blame the American people; they’ve been led down a path of stupidity since the end of WWII.  The dollar has been backed by gold, then it was backed by oil but they glutted the market with fiat (petro) currency and drove it down.  Not good enough they pegged it to their Gross National Product (GNP) and their jobs went overseas.  And what’s with a 0% bank rate?  It doesn’t end there.  These ridiculous adventures into the Middle East to secure oil flow have become a disaster.  Now they have to come home with their heads between their legs without a victory.  Of course they will claim they won.  Won what?  They succeeded in spurring more hate and radicalism. I’m not sure if you have seen this Afghan Army and Police Force the Americans have trained, but they can’t hold a gun straight. Besides, as soon as the Americans pull out, those so called trained soldiers will defect (with their pay and guns) and go right back to the tribes they came from.  Neither Afghanistan nor Iraq is ever going to be a democracy and the theory of spreading democracy via bombs and bullets should finally be laid to rest.

They call them, “emerging markets.”  What they really mean is China, India and pretty much all of South America, as well as Russia are away ahead of the West  The European Union is set to collapse.  The biggest criminal organizations on earth today are the IMF, WTO and WB.  Whoever heard of spending more money to get out debt?  The IMF lends nation states money and then takes over the country via multinationals and drives the populace into poverty.  They did it to Argentina and much of South America until they got fed up and bought one way airplane tickets for the IMF workers in those counties. Now their economies are thriving.  Greece, Italy, Ireland, Portugal, and Spain are finished, and France is about to feel the pinch.  Germany is not going to keep paying the price.

I don’t want to see my American friends suffer.  But the American people need to get away from reality (unreality) TV shows and wake up.  The solution to their problem is a simple one.  There is no democracy in any state (including our own) as long as government controls the nation states currency. Currency should be privatized and run by a National Bank (owned and run by the citizens).  That way governments can’t borrow unless they can prove (like an individual has to prove his/her worth to borrow) they can pay it back with tangible assets (land, buildings, gold, silver etc.).  All they are doing now is selling off the future of every man women and child alive and yet to be born.  The divine right of Kings ended with the Magna Carta.  There is absolutely nothing wrong going back to what worked.

Harley.james@sympatico.ca