Interesting charts. In 2007, prior to the Wall Street created worldwide financial collapse, the Fed Funds rate was 5.25% and credit card interest rates were 15%. The Fed then provided free money to their Wall Street bank owners with a Fed Funds rate of 0% for the next 6 years. But your friendly Wall Street banker only reduced credit card interest rates to 13%. So not only did Wall Street fuck you with millions of foreclosures, absconding with $700 billion of TARP, having the Fed buy up $4 trillion of their toxic mortgages, but they reaped far more interest income from credit cards by not lowering rates to 10%. Wall Street always wins. ‘Merica Fuck Yea!!!
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As I have said over and over again ” Just grab you ankles and smile” It’s on its way again!
One of the great features of bitcoin and some other crypto’s is a way to put a stick up the banksters ass and the jew IRS scum plus the paracites aka poltitions. But the caviat is me thinks they want form their own “fed coin” in which case we would be toast. Total tracking of the sheep.
This the ONLY website in the last F*CKING ten years that has brought this to anyone’s attention! Rates have dropped to record lows and yet the spreads are at record highs! Since 2008 the lending lizard assholes have duped millions more Americans into teaser-rate credit card offerings of “0% for 18 months!” that are and will reset at much higher rates moving forward. In fact, you can bet the farm that when the next downturn hits the banks will jack interest rates on existing credit card balances as far as they can legally go (in many states, just under 30%). Many families have increasingly had to rely on credit to make ends meet, and anyone caught swimming in revolving credit debt in the next financial tsunami is truly going to be miserable. Look into the “means tested” bankruptcy laws that were rewritten several years ago. This won’t end well.
deserves article of its own:
http://cdrsalamander.blogspot.com/2018/05/prepper-math.html?m=1
sofa, excellent food for thought. I’m not sure I agree 100% with the math, or the premises that it’s based on, but the conclusions are in direct alignment with my own thinking.
currency collapse and/or depression due to financialization is a regular occurence. since 1700, about once per lifespan. sometimes more often.
across all the globe. it’s how ponzi schemes implode.
now it’s our turn again.
failing to plan,
is planning to fail.
In the next downturn the FED will again write itself another debt jubilee, wiping it’s own debt slate clean, while tightening the screws on private debt. This is a historical pattern of behavior. During the great depression the banks foreclosed on property zealously.
When you look at the population map in the UN’s Agenda 21 documents one has to wonder how they plan to move all the people out of rural areas that are designated as wilderness into high density population centers. Its just speculation on my part, but I can see the banks handing over foreclosed properties to the government, in exchange for fair market value of fiat currency. As Backtable points out in his comment above, large rate hikes can be expected as part of the next crash. When you look at such events, inevitably there are winners and losers. Ever expansive centralized government and central banks being the big winners and you and I being the big losers.
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I could not imagine any young man (in particular White) fighting for this place anymore.
License to steal.
Don’t fight FOR it…
i only wish that i could buy a portfolio of the junkiest bonds and have the Fed pay me back at par if they went belly up!
“We’re going to screw you just a little bit longer…”
Just one example, of many, of how the bastards that crashed Wall St. turned right around and on the taxpayer’s own dime, screwed them again. If ever there were an argument that sociopaths run most of the financial system this is it.
If you want to do the math you can read the FDIC’s official website, https://www.fdic.gov/news/news/press/2009/pr09001a.html.