This from Zero Hedge and more on their page
Doh! ALL fiat currencies are already IOUs: Federal Reserve Notes, Euros, UK Pounds... all this does is extend the debt issued by a new currency issuer.
What could ever settle the debt, fully and finally?
Martin adds
What could ever settle the debt, fully and finally?Martin adds
John Exter knew. He died in 2006 aged 95. He was an American economist, member of the Board of Governors of the United States Federal Reserve System, and founder of the Central Bank of Sri Lanka. He is also known for creating Exter's Pyramid.
Most people don't realise that the value of their "paper" wealth (i.e. dollars, pounds, shares, bonds, derivatives, ETFs, etc) is based only on hope and promises. The investments themselves have no material value - they are just paper with ink on them, or electronic ledger entries. You hope someone else will deliver some greater future value to you when you want it, probably in cash.
There is a hierarchy of financial instruments, a ladder from the more solid to the more speculative: as you go up the ladder, the financial strength of each rung is based on the perceived strength of the rung below.
When the most complex and most widespread investment class fails (i.e. derivatives - the red slice at the top of the picture below), all these battered investors will scramble down the ladder to lodge any surviving wealth "safely" on lower rungs (e.g the purple or light blue slices), which massively increases the demand upon these "safer", less complex investments; their price will rise sharply. Of course, if the supply of these lower-level products is overwhelmed by this desperate rush of capital, and greedy brokers take liberties along the way, these investments may well collapse in their turn and so the capital cascades down to flood the levels even further below.
The whole inverted pyramid of value in the world of money is a tottering Tower of Jenga, supported ultimately by the presence of gold. Gold has always been the ultimate basis for money ("Only gold is money,everything else is credit" - J.P Morgan) and people have always attempted to expand it, inventing fancy variations and alternatives to it and then abusing and inflating these mutant creations into oblivion along the way.
If a torrent of displaced wealth is shaken free at the higher levels, it urgently seeks to settle somewhere safer. Once the cascade begins in earnest, where do you think it is going to eventually settle, and what effect do you think this will have on the value of gold?
Wikipedia Entry on John Exter
EXECUTIVE ORDERS ISSUED BY THE PRESIDENT (USA) WILL HAVE NO FORCE OR EFFECT IN ARIZONA, AS INSURRECTION AGAINST THE WHITE HOUSE USURPED POWERS GAINS GROUND.
In March, the Republican-led Arizona House of Representatives passed a bill sponsored by Tea Party Rep Bob Thorpe (R-Flagstaff). It passed on a 36-to-24 party line vote. The bill "prohibits this state or any of its political subdivisions from using any personnel or financial resources to enforce, administer or cooperate with an executive order issued by the President of the United States that has not been affirmed by a vote of Congress and signed into law as prescribed by the US Constitution." The states are finally resisting the plethora, the spate, and onslaught of Executive Orders which resemble a dictatorship. See Washington Post article. It seems Texas and Arizona are the only states that put up any tangible resistance. Don't mess with Texas!
-- Golden Jackass: Subscription Newsletter
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A USMilitary pilot has stepped forward and completely blows the lid off the unlawful and exceedingly destructive Global Chemtrail Program. He has broken ranks with his chemtrailing peers, and thus put his life in danger. Chemtrails are being sprayed non-stop around the globe with terrible consequences to health, living creatures (including humans), and environment.
Read the whole Article
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A USMilitary pilot has stepped forward and completely blows the lid off the unlawful and exceedingly destructive Global Chemtrail Program. He has broken ranks with his chemtrailing peers, and thus put his life in danger. Chemtrails are being sprayed non-stop around the globe with terrible consequences to health, living creatures (including humans), and environment.
Read the whole Article
Walker said this is “not an area that we have any need for in the future” and it would not be a good use of Air Force research funds to keep HAARP going. “We’re moving on to other ways of managing the ionosphere, which the HAARP was really designed to do,” he said. “To inject energy into the ionosphere to be able to actually control it. But that work has been completed.” Martin Revens
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Some time back I put up a post on the death of Keith Green made to look accidental
This is a similar type of confession about the murder of Marilyn Monroe.
When people are on their deathbed, they have nothing to lose and nothing to gain. One of the most awe inspiring stories from the entertainment industry is that of Marilyn Monroe and the 78 year old retired CIA officer, Norman Hodges, who made some of the most ground breaking confessions ever noted from an ex CIA officer.In amongst his many confessions, he admits to being a group member of five CIA agents, whose sole task was to carry out assassinations. He also admits one of his assassinations being none other than Glamour icon, Marilyn Monroe, who was killed not just because of her ties with John F Kennedy, but also because she slept with Fidel Castro, ultimately making her a massive national security risk.Hodges says he has no regrets.He claims he carried out 37 assassinations for the US Government between 1959 and 1972 including Marilyn Monroe.Hodges had worked for the CIA. sourced by Mark Jones
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