I am in fear and trembling about writing about economics since I always get it wrong, you know, I think that national and personal debt is a problem, but that is conventional thinking. Ok, I plead ignorance. But, there are a lot of other ignorant people out there that are worried, so this might be of interest, although the experts might want to move on going back to their differential equation models of their economy.
“Traditional Catholic Bishop Richard Williamson’s latest missive should be a wake-up call for those who naively believe that the worst is behind for the US and Western economies after the March financial sell off and the long-anticipated implosion of the bubble economy. His Excellency asserts that the US and much of the world are on a financial precipice: At this moment the United States has been brought to the brink of a tremendous economic crisis, and with the USA, the rest of the world. Bishop Williamson contends that it has not only been the response to the virus, but more importantly, the response to the bursting of the financial bubble, created by the Fed, which will ultimately lead to a cataclysmic collapse: By 2019 as the public was more and more hooked on fantasy money, the Fed’s public balance sheet took off into complete unreality, seven trillion dollars and counting, and it is now crashing the real economy with the corona-panic, then ‘paying’ the crash debts that everybody gets into with its unreal trillions, but turning the whole world into real slaves. The bishop’s brief analysis of the history of the Fed is right on as he explains that the central bank has been the engine of monetary mischief since its inception: These money men had promised that the Fed . . . would solve the problem of reoccurring economic crises. . . . It did nothing of the kind. On the contrary, it made them even worse, like the Great Depression of 1929 and the years following, and now the Depression of the 2020s which risks making 1929 look like a picnic, and risks stripping the United States of its prosperity and enslaving its liberty by making all American citizens into debt-slaves. The middle class will soon be no more. One quibble: Bishop Williamson rightly sees the problem of the money supply controlled by “private individuals” (central banksters): It is not normal for private citizens to control their State’s money because they risk doing so in their own interests, and not for the common good. Yet, the alternative – State control – is no better and, under “democratic conditions,” maybe even worse considering the State’s horrific record in the debasement of money, the creation of booms and busts, hyperinflations, the destruction of savings, etc.”