Submitted by Simon Black via SovereignMan.com,
Chances are you’ve never heard of William White.
You might have heard of the organization that he used to manage—the Bank of International Settlements (BIS).
The BIS is often called the central bank of central banks; their role is essentially to facilitate international financial transactions among the world’s central banks.
So they are a major component in the international financial system, just like the IMF and World Bank.
William White is a central banker who used to be on the BIS management committee. And this makes him a key member of the global financial establishment.
It’s not too often that central bankers are particularly transparent with the public.
Ben Bernanke famously told the world in July 2005 that there wouldn’t be a nationwide decline in home prices in the United States.
Then just a few months later when home prices did fall, he told Congress that the adverse effects of the housing market were ‘contained’ and wouldn’t affect the broader economy.
He was dead wrong on both accounts. And one of the biggest financial crises in history broke out shortly thereafter.
Central bankers seem to always miss the crisis just around the corner.
That’s pretty scary given that they have the power to dominate and control just about everything in the entire economy.
And despite a serial track record of failure, we’re just supposed to trust them to be smart guys. It’s madness.
A few days ago, however, William White gave an interview stating some things that you never hear coming out of the mouth of a central banker. Ever.
According to White, the global financial system is dangerously unstable.
“The situation is worse than in 2007,” he said, and went on to explain that central banks no longer have the ammunition to fight off a major crisis.
He railed against the mountain of government debt that has accumulated worldwide, saying that “it will be obvious in the next recession that many of these debts will never be serviced or repaid.”
White also suggested that banks, particularly in Europe, will have to be recapitalized on an unimaginable scale.
And due to all the new regulations, it will be depositors who have portions of their accounts confiscated by the state in order to fund the bank bailouts.
William White is not alone.
Michael Burry, the man who made $100 million betting against the last housing crisis, sees the same thing.
In an interview last month, Bury spoke about the “absurdity” of the massive level of debt in the system, and the Federal Reserve’s pitiful balance sheet.
When he gave the interview, the Fed’s balance sheet was leveraged 77:1. Today, barely a month later, it’s over 100:1. Incredible.
Financial markets have been in panic mode since the beginning of the year.
Just in the first few weeks of January, US stocks are down more than 10%. In China, the epicenter of the chaos, stocks are down 20%.
Commodity prices continue to fall. Pessimism abounds.
Look, maybe this is it. Maybe the global financial system has truly reached its limit.
Maybe the world has realized that the path to prosperity is not in conjuring money out of thin air, raising taxes, or going deeper into debt.
Maybe people have finally figured out that an insolvent government and insolvent central bank cannot possibly continue to underpin the entire financial system.
Or maybe not.
Maybe this will all be forgotten in a few weeks. And this coming Christmas no one will remember the great crisis of January that almost was.
But to me the incredible thing is how much panic there has been, particularly in banking and financial markets, just at the mere HINT of problems in the system.
It’s a clear indication of how quickly people can lose confidence and an entire system can become unglued.
Maybe things drag on like this for years, with government continuing to pile up debt and central banks continuing their slide into insolvency.
Maybe interest rates can become even more negative, and banks can become even less liquid.
But one day that confidence will turn. And as this month shows, it can all happen in an instant.
Look, I’m an optimistic guy.
Crisis always brings opportunity for those who can see the obvious realities. And I think what’s starting to unfold is tremendously exciting.
Economics isn’t complicated. The Universal Law of Prosperity is very simple: produce more than you consume.
Governments, corporations, and individuals all have to abide by it. Those who do will thrive. Those who don’t will fail, sooner or later.
When the entire financial system ignores this fundamental rule, it puts us all at risk.
And if you can understand that, you can take simple, sensible steps to prevent the consequences.
We do appear to be at some sort of an inflection point.
Capitalism is ending. What emerges has some elements of capitalism, mainly amongst the top 20% of the population. The bottom 80% get a basic sustenance with severe price controls on basic supplies.
‘The Time Machine’ redux…
TPTB House of Cards (the Fiat Dollar) will soon be going up in smoke as planned (re Reichstag Fire) to be replaced with their e-money and the Mark of the Best. Beware of Illuminati bearing gifts.
Rob in Nova Scotia? If you haven’t already found that little piece of farmland… it is time.
With quite a bit of luck, when the pseudo-capitalism we now enjoy, rolls over and croaks, it may well be our propensity to try an force equal results from unequal people will stop. Work or Starve. Produce or die. Since there no way to cure stupid, the fall out will be painful and quite deadly I suspect. The top 1% will go down fighting to hold their advantages and the lowest 60% will go down fighting just to survive.
Equality isn’t. Never has been and never will be. Those who are smart, productive, honest and perseverant will succeed. Those who are stupid, on the dole, dishonest and lazy will die trying to steal what they need to survive without doing anything but killing others for what they want.
Diversity (Political Correctness Speak) is merely another glaring example of Equal isn’t. Trying to change that by force or dumbing down a portion of the population to attempt to force equal results will never succeed and just make things worse unto collapse given sufficient time.
We are almost there but timing is a bitch. The outcome is assured but when it’s pops off no one knows.
MA
There are a few facts that were not mentioned in the above article which are very important in understanding what is really going on in financial markets. The economic problems that afflict the US cannot be solved by focusing on symptoms while ignoring the ultimate cause.
1. The Federal Reserve is privately owned by an international banking syndicate and was established to control the monetary system and government, as part of a giant conspiracy (read: The Creature from Jekyll Island). The Federal Reserve was established in violation of the US Constitution and therefore represents a criminal entity that must be destroyed and those responsible indicted for high treason and theft.
2. Greenspan and Bernanke may be a lot of things but they are definitely not fools and they represent the interests of the bankers who created the Federal Reserve, not the interests of the American people. To quote from FDR, if it happened then you know it was planned that way. The money printing to infinity, dollar debasement, bank bailouts and ZIRP are all part of a plan to destroy the United States of America and in fact the entire western world. By controlling the money supply, they create booms and busts such as the boom period of the roaring twenties which was followed by the bust of the Great Depression.
3. The motive is a New World Order controlled by a small and very wealthy International Criminal Banking Syndicate. Below is a quote from historian and CFR insider Caroll Quigley’s Tragedy and Hope, Chapter 20, that describes the agenda rather clearly.
“The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert by secret agreements arrived at in frequent private meetings and conferences.”
Not just yet people…….
Wait for it…….. wait for it………
The “event” were waiting for is when the shale producers go to the banks and say ” we’re broke and we can’t pay you”
The stock market doesn’t make an economy, we do. It can/will fall to below 10,000 if need be, but in the end, it will be the banks that determine when the event will happen, just like last time. Yes there are cracks in the foundation, but a few more pillars need to fall before things really get rolling. And like last time, there will be more QE injected to the wrong places, (.01%) but it won’t matter. Retail corporations are reporting there worst year ever, and are fast running out of cash. Governments are maxed out on their (our) obligations to the tune of 1 million per household.
Just a couple more months……………….
Hi Maggie
Weird I think fate has struck me again. This time though I can say it is opportunity for the better. Saw a place on listings earlier tonight and just sent inquiry. Showed post to my wife where hardscabble talked about farming. She was impressed at how eloquent he writes.
It really is a no-brainer. The only thing I want to avoid is taking on a bunch of debt. House we have now is pretty much paid for. It’s now or never.
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Do you want to raise or board horses? Start farming commercially, hobby farm, raise a family in the country? This once successful strawberry u-pick farm is for sale. With enough land to do what you want. Trails for the horses, farm land that is some of the best in Antigonish Nova Scotia. The river runs through it so you’ll have more than enough water to irrigate or feed the animals. Main barn is 30×80 and garage is 20×30. There is also a chicken coop for approximately 100 chickens. We can sell land without the house and buildings or we can sell the house and barn with just enough land to suit your needs. If your looking for any of that, this is the place for you.
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What say you folks!
The place is talking to me for some reason. My Grand Dad if he was alive would probably tell me I’m nuts.
Go look at it and walk the perimeter… see if it feels right. I can’t help but think you can do this, even though I only know you a bit from your writing…
I’ll get with you soon, btw.
Mr. Simon Black: your statement that Ben B. was wrong twice is in error. He LIED, to install CONFIDENCE to the sheeple in order for the Banksters to rob the peasants.
Just like Paulson when he said that Fannie and Freddie were well capitalized. He purposely LIED.
Just like NAR (Nat’l Assoc. of Realtors) LIED about home sales in 2007/2008 to install Confidence in the RE Market.
Get it thru all your heads that any gov’t official or any NGO that receives gov’t funding will LIE.
Thanks for the encouragement Maggie. I’m in midst of the winter blahs. I haven’t done much writing these past couple of weeks. I wish I could say I’m busy at work but I spend my days sitting at a desk. I get stuff done and everyone is happy with my work. But sitting at a desk is not how I want to live out my life. I am finding it hard to write these days. Out of focus. I think the real problem is that I am not doing real work. Sure I am part of team designing bridges and buildings but I don’t get my hands dirty anymore. There are millions of people like me. Sitting at desks in thousands of offices all over North America counting days until retirement. Wishing their lives away. It is no wonder so many people are lost.
Digging in the dirt is way better. I did financial analysis once upon a time and I’d much rather bury chicken and rabbit poop to enrich my topsoil for the garden this spring. Is more productive and honest.
Rob, just curious, how many acres and what is the asking price? There is a land sales company that is operatig in Southeast Ohio that is marketing very large tracts of former farmland for what I believe are ridiculous low prices say 50 acres for $500,000 as an example. This is just worthless land to most people, but as a potential bugout place there are real possibilities.
The motive is a New World Order controlled by a small and very wealthy International Criminal Banking Syndicate.
You couldn’t write “Jews”? For what is the difference?
Rob– the name of the company is called Bruner land (brunerland.com). Worth checking out!
I’m not sure how many acres. I’m guessing about 120.. I emailed person selling property earlier tonight and he is going to get back to me with more details. I send him a quick email. …
Property is listed for 295,000 Canadian. It isn’t all that far from town but it does have only one road to it.
One plus.
Hey Rob – I like your idea and Antigonish is just so beautiful. I cycled a lot around there and would not hesitate a second to make it my home . We did this move 5 years ago when we bought a 700 acre farm in Québec with beautiful barns that had not been operating for over 30 years. No chemicals, no GMO, only great neighbours and tons of lakes and rivers 100 km around us. We are preparing for a helluva ride, but what a feeling it is to be free again. Go for it if your wife is on board!!!
He just got back to me.
It’s 170 acres.
I need to make this happen.
Hi Gerry
Thanks for the kind words and encouragement.
Yes, it is time. Make it happen.
Rob in Nova Scotia…
If you can afford it, do it. If the city isn’t too far, you can
still work for a while, and keep your new place a secret.
Then, when the time is right, pull the plug and split.
The fresh air, the peace and quiet, and the space around you…
will sustain your family while you plan out your farm.
Good luck and God speed.
Suzanna
“The Universal Law of Prosperity is very simple: produce more than you consume.”
Except that is an impossibility, flouting the laws of thermodynamics.
Everything we paint as “production” is actually consumption.
Check it out, yo!
The Law of prosperity is produce more than you consume as stated in original piece. I should be able to do that there.
The current system looks to me like it is going to come “unglued” and I realize that I can’t fix it. Christ, I get the 1000 yard stare from my Boss and Financial advisor anytime I start talking about systemic problems in finance and business. TBP is the forum that seems to share my concerns. Funny thing is it won’t surprise me if the Masters of the Universe from which sprung Mr. White will somehow manage to keep all the plates spinning for some time yet. But it does seem to me that the world is becoming more cruel thru wars, more unjust thru it’s finance and more obtuse thru it’s politicians. I’m tired of sitting at my desk watching all this and hoping. Hoping against hope that the dormant mass of public sentiment will rise up and sweep all this away. That would be the hard choice. The easy way out is too cross one’s fingers and hope that somehow common sense will prevail. But common sense and hard work doesn’t stand a chance against the cliché and slogans of people like Bernie Sanders and Donald Trump. Those two men appeal to the base instincts of the two sides of the same coin. They spout slogans written by the best Philadelphia Lawyers money can buy. Simple and easy to understand. Those enthralled by their words can then run through the streets with their torches armed with the direction of who to blame for their problems. I don’t mention Hillary because she has not only contempt for the public but for herself as well. How else can it be explained. She kept her horse hitched to the wagon of the Philanderer in chief Bill. The rest aren’t worth mentioning. Jeb Bush maybe but that’s only because he comes from royalty. In my opinion he has a better chance of being eaten by a Polar Bear than becoming President of the United States of America. Leader of the Free World. A free world where nothing is free.
Trump is going to be next President but I really think he will end up being The Hindenburg in the History books. Like that old soldier he will hand the keys to a truly nasty piece of work. But that is five years from now.
So for now the plates spin. I work and as Suzanna above recommends I wait. At least it’s a plan that doesn’t end with me sitting at a desk waiting for my gold watch.
Chubby
People here know that I am not religious. However you are wrong. The sun in the sky, my God, rises in the morning and provides the gifts of life and energy free for anyone to use. It will end one day but that is something that not even Donald Trump cannot control.
Rob, I am 100% behind your scheme. I am doing the same thing. Distance from large population centers may aid us, but in the aggregate there’s no hope. The employment of any kind of “energy” only creates waste heat and noxious by-products. It has never been otherwise, just fewer folks and fewer toxic enterprises on the planet made it seem not so bad.
Lol.. As if Donald Trump could control anything….! I loved Sarah talking about the private sector balancing the books. Mr. Four-Bankruptcies mugging and grinning like the repulsive ape he is…
For what it’s worth:
I just bought 5 acres (330’ x 660’) near 48032 for $18,000. I always use to think 5 acres was too small but once you walk the property it seems plenty big for small type of hobby farm.
The American People have become gross caracitures of themselves. Not only are they grotesquely bloated from gorging themselves at the trough of prosperity, they have taken the glistening cloth of liberty and turned it into a gaudy shell of indulgence.
A society that once valued individual merit and uniqueness of character now pants and slobbers over collective greed and lavish excess, believing that wealth accumulated by any means, even unethical, is somehow akin to accomplishment.
The American People may once have been a shining city on a hill, but they are now ready for collection by the garbage collectors who will toss them onto the junk pile of history.
Only in remote areas where man’s humanity to man can be rejuvenated and nurtured will there be any hope for resuscitation of a society able to treasure and protect individual rights. The tide has turned and will soon wash this monstrosity from the beachhead.
At least that’s what I think.
DGB… Five acres is a kingdom.
Rob, Can you swing a weekend off to travel to New England and visit? Let me show you what you can do.
That place calls to you for a reason.
DGB-
A classic read, MG Kains- Five Acres And Independence
HSF
Thank you for the offer.
That would be a great idea and an excuse to go to what we call around here the Boston States. Anyways I’ll mention it to my wife. First thing is going to have a look at this place. It’s funny my wife has been the impetus getting the ball rolling but I think for her the vision is bucolic. I love her to bits but she is more concerned about location and a nice kitchen then the practicality and function. I on the other hand see things different. In Engineering there are three things one worries about in design.
Fit
Form
and Function
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For me Function has always been the most important. If it doesn’t work then nothing else matters.
Cubby
I wasn’t trying to beat you up in my comment. You are right we can’t repeal entropy and enthalpy. But the Donald and the Berne have millions convinced that they can. This isn’t going to end well when the opposing camps followers realize that their Emperors have no clothes.
It may have looked to some that I hi-jacked the thread with my original post but this project is the only anti-dote I can come up with to the current malaise.
@Rob
There is enough acreage for you to grow your own feed for whatever livestock you endeavor to raise. That said, I’m unsure of your climate and whether or not the region can grow oats, wheat, corn, etc — those are the standard grains used by most livestock. Then there is the grassy feeds — HAY. Can that region grow hay to sustain the livestock you are interested in raising?
If you want to farm as a job, you will need to do some detailed guestimates on whether or not the acreage, the manpower, and the horsepower can support the full cycle of farming or not. If you can grow the feed to support your farm-system, you can turn a profit. If you have to pay out for the feed (grains and/or grass/hay), you will have a different profit margin.
Questions to think about: Would you have a diverse farm or would you concentrate on one type of livestock or product (ie monocrop farming)? Do you have ample barns and outbuildings already at this property? What is the existing property set up for — just chickens? Could you sustain your family by raising only chickens? If so, would you be chicken-farmers for meat or eggs? Would you be a “contract farmer”? (Ugh — do not consider this!)
Other questions: Would you buy purebred/registered livestock and breed for specific qualities (even build a ‘legacy’)? Would you breed for confirmation and ‘show quality’ and build up livestock to sell for potential profit from registered animals? Would you consider AI services?
When do you need an actual income if you become a “farmer”? How much money would you need to ‘live on’ per month — could you provide this income solely from a farm? Do you have available finances to fund your farm? Could you purchase this farm and spend several years in preparation for the physical move to this farm (or do you need to sell your current residence first)? Would you have access to any grants in that area, if and when you become a bonafide farm on paper? (There are MANY questions but these are a few to get you thinking.)
Have you assessed the current system in the region to determine if there already exists a commercialized venture with specific livestock (ie processing plants/factories)? If there is no means to transport livestock to their next destination (sale/auction, processing facility), then it will be up to you to arrange for that transportation. Will you have funds to purchase/lease/hire the trailer(s) to move livestock?
Would a more community-based CSA-type of farming appeal to you and your family? Some CSAs offer a full range of edibles, including chickens, turkeys, rabbits, beef, etc. What are the restrictions in Nova Scotia for selling retail meats? Can you butcher yourself and sell or are animals sold ‘live’, or must all farm-raised meats go through a govt-based butcher/processing facility?
Lots of questions but these are the real-life issues you need to consider before thinking about how wonderful farming looks to be. Bucolic, yes, but there is real work involved….and there is cost involved, too. Don’t be discouraged, be smart. Think logically, not with emotion. The calling may become your reality and it just might work for you and your family. I hope it does. The world needs more REAL farmers!
Personally, I believe you can farm for profit, especially when much of the resources come from within the farm itself. Also, there is strength/profit with a diverse farm but it can also be overwhelming and may not be the easiest to achieve if you are a newbie to farming. Personally, if I had the chance to do it all over again, I would forget the college education and become a farmer or rancher. I was never really happy in an office and always hated when someone asked me “What do you do for a living”. That job was never a ‘living’, it was just an occupation. Being outside w/ all of the beauty and the seasons — and the critters — and being as self-sufficient as possible, now THAT is living.
Please keep us informed!
Rob, getting out of an office job and onto the land is very much “on topic” with the start of the crisis. It is still the very best thing Nick and I did with the rest of our lives, no matter what is in store.
In spite of my weird little bunnies.
@ Rob , 208,879.00 US dollars? …even at this price 170 acres is a steal..Does this include the house too? Either way, it peaks my interest…if you’re not so inclined , please post the listing , I may be.