Beware Of Larry Summers, Criminal Real Estate Bubbles, And Digital Currency

According to Larry Summers, the US government must act in a criminal manner for the US economy to grow. The only alternative, he says, is to move to a cashless society and hold all Americans prisoners to the banks. Either way is criminal, because if you blow a housing bubble you are lending to marginal borrowers. Lending to marginal borrowers is criminal according to new Dodd-Frank regulations, at least for the banks the Fed has control over, and the FIRREA Act back in the 1980's was passed to allow for civil penalties against those who loaned money to marginal buyers. It was a law that George W. Bush just ignored.

Keeping one from having cash is criminal as well. There is a totalitarian aspect to being forced to keep your money in a bank. If the bank makes a mistake with its investments, it can turn your money into capital to save itself. Those who choose not to partake in this straitjacket have no choice. If you deposit money into a bank it is a loan to the bank. If it is a loan to the bank, and you cannot withdraw that loan in the form of cash, then you are being forced to lend to the bank. It becomes the banks' money while it is in the bank!

This is totalitarian thinking. And it is no better than blowing bubbles by lending, which is the other criminal means by which the economy grows. If you are subject to the banks in any form, you are a slave to an international cartel. People tell us that digital currency like Bitcoin or other schemes is a way out but it is not. The cartel will ultimately rule these digital currencies and there will be nothing that the owner of those currencies can do about it.

As it stands, bitcoin is more a speculative investment vehicle, but it may settle down one day and act like a currency instead of like a ponzi scheme. But you can count on it one day being regulated.

I don't agree with those libertarians who say the government should not be able to produce money. Our constitution allows for that. But of course that is not what we have now as we have a private Fed issuing money while the government does not really issue money, only debt. But digital currency as the only currency should make everyone feel very uncomfortable. There is a possibility of the central bank clearing being hacked, so says a PHD from Oxford University. Joseph P. Farrell believes a cashless society is a massively bad idea.

And I can guarantee you that people will plough into commodities like gold, making the metal a bubble-ish monstrosity. People will seek to find value outside the monetary system. One mistake, one bank run, one hack, and this cashless party will be over. People have killed for less although I absolutely do not advocate that solution.

Besides, how are you going to help the poor begging on the street? Are you going to equip them with a cell phone? Are you going to want a data trail for when you purchase a gift for your wife?

The most important terror of a cashless society is to bring in an international cartel that bypasses the nation states, and destroy sovereignty. If you think that NSA is bad now, wait until all currency is digital. I am as opposed to offshore hiding of income illegally and against the use of currency for crime as anyone. But if the international cabal's totalitarianism is a bigger crime than the crime we have now, what is gained? All is lost!

Ask yourselves why do Obama and Romney have Eugenics advisors? John Holdren is a eugenics monster, or so his writings have revealed he has monster thoughts. Could it be that this control of mankind could even include eugenics? While many find that farfetched, we know that the Vatican has come out with a plan a couple of years ago that calls for a world bank. The article is entitled: "Towards Reforming the International Financial and Monetary Systems in the Context of a Global Authority.

We know that the World Bank said in 1984 (and the date is not lost on many):

 

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I am not an investment counselor nor am I an attorney so my views are not to be considered investment advice.

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