Full Faith and Credit

At the moment we’re in the “phony war” stage of the Great Collapse and hyperinflation. Despite the unprecedented creation of fiat money — not just in the USA, but across the West — consumer price increases have only just begun to accelerate. We’re at the beginning of an inflation that has to run its course, and there’s no telling how bad it will become before the situation stabilizes again.

The Congress is determined to spend more money, and lots of it. Even if the “Build Back Better” legislation doesn’t pass, they’re going to spend. They have to — next year is an election year. They need to be able to tell Joe Schmoe: “Look at all the federal goodies I delivered to you! Vote for me again!”

And it doesn’t matter what all those trillions are spent on. It could be windmills; it could be aircraft carriers. New highways, electric cars, gender reassignment surgery for teenagers, new army bases, solar power subsidies, a light rail line from Portland to Pensacola — it doesn’t matter. The resulting inflation will be the same.

The USA abolished the convertibility of paper currency to silver in 1964, and abandoned the gold standard in 1971. Since then the only anchor for the dollar has been “the full faith and credit of the United States government.” I don’t know how much that particular commodity is worth, but we’ll soon find out.

The following remarks are adapted from an email exchange on the topic that I had yesterday with a long-time reader and correspondent.

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Re the financial collapse — I’m sure you remember Trent Franks, the former congressman from Arizona. A great guy, but he got taken down by #MeToo, if I remember correctly. I met him several times back in the day, when I was working with the groups in DC. More than ten years ago, when he had just given a talk, I had a chance to chat with him afterwards. I kind of buttonholed him about the national debt. This was during Obama’s big spending binge and all that quantitative easing unleashed by the Fed after the crisis of 2008-2009. The debt seemed huge even then, but it’s about five or six times as big now. Anyway, I said to Rep. Franks: “The national debt can never possibly be paid off. [Whatever the figure was back then] simply can’t be paid off. We will either have to default on the debt, or go to hyperinflation.” His face fell, and he looked genuinely distressed. He said: “Yes, I know — we’re going to have to monetize the debt. It’s horrible.”

Mind you, that was about twelve years ago, and the rigged system has been kept afloat somehow for all the years since. Back then I didn’t believe it could hold together for two years, never mind twelve. And here we are about to enter 2022 with the same flim-flammery still going on. So I no longer predict when the whole corrupt edifice will come crashing down. It has to happen someday — it’s mathematically inevitable — but it has held up this long, which is astonishing. I don’t even try to guess when it will all fall apart.

From what I read of the plans for the Great Reset, however, the collapse is part of the plan, and will be triggered when the time is considered right. At the bottom of the debt pyramid is consumer debt — credit cards, mortgages, home equity loans, etc. All those instruments are listed as assets on the books of major financial institutions, and are traded as derivatives and so on as if they had actual value. When the economy collapses and the inflation sets in, consumers will go into default en masse, and cause the collapse of everyone further up the chain. At that point the global digital currency will be in place and ready to roll out. Individual consumers will be offered the chance to trade in their assets — homes, cars, whatever — for a slice of the new currency and the forgiveness of their debts. But they will no longer OWN those assets, they will be LEASING them, using the new currency. They will be allotted their UBI, Universal Basic Income, and the subscriptions will automatically be deducted from their digital accounts. They can spend the remainder, but the system will set automatic limits on how much they can spend on certain categories. Not too much red meat! Not too much travel in private vehicles! All to save the planet.

Those of us who are not in debt — and I am one — will not have to opt-in to the new system. However, cash will eventually be abolished, and at that point we can either surrender to the Borg or be reduced to barter and whatever black market currencies appear. We will be squeezed more and more, much like the unvaxed are being squeezed now.

That’s a rough outline of the plan as I understand it. The main point is that the current system will fail because it has been DESIGNED to fail, as part of a careful process that has been rolled out over the last fifty years or so. World government. A digital currency linked to a social credit score. Total surveillance — smart everything, the Internet of Things, etc. Total socialism. The boot in our faces, forever.

That’s my dystopian view of what lies ahead. I don’t know if it’s possible to resist it successfully, but I want to live to be ninety, so I can see how it all turns out.

The best-laid schemes o’ mice an’ men gang aft a-gley.

26 thoughts on “Full Faith and Credit

  1. I don’t know how many times I’ve heard over the years that governments cannot be trusted to print their own money. Bankers are more prudent. Ha.

    They pretend to be prudent, while charging the governments (us) an arm and a leg for the money they create out of thin air. The debt should be repudiated. It’s fakery all the way down.

  2. There are many islands with water Baron. Some with just a few inhabitants.

    I have one lined up – one of many options I have worked on.

    Everyone should take a good look around and see what you have access to if you choose not to fight, or the fighting turns out to be a waste of time.

    The thing is everything the WEF has set out to happen in their writings around 2015 have come to pass. No doubt it will become more difficult to execute each stage of the plan from here on in.

    Singing while holding hands in the street aint going to achieve crap.

    I have a neighbour unvaxxed and his ol mum lives in the next state – she too unvaxxed.

    Every Sunday he takes two outdoor chairs to Coolangatta – the border town near here and his mum sits on her side of the line, he on his and have tea and biscuits.

    The local churches are all done. They no longer take their directions from god, but instead from the local Premier( governor). Masks and distancing apply – so many people do not attend me included.

  3. We will lease everything? Unless the “we” is severely limited, that seems to be a pipe dream. Will Ace Hardware less its stock of finish nails? Will a furniture manufacturer lease their stock of wood? Will farmers lease their seed and fertilizer? Will Walmart lease its stock of Depends to sublease to Joe Biden? Has anyone at the WEF thought this out or do they just like sloganeering and imagining that everyone lives in an apartment in a big city?

    • Many companies in the IT and entertainment industries are aggressively subscription-based these days. Real world stuff is harder to regulate unless it’s “smart” – i.e. connected to the internet where it can be remotely disabled. As for the other stuff, the idea is that the government would allot a budget to the farmers, furniture builders, and other productive people of the world, which will free them to finally achieve the same level of success found in North Korea and Venezuela today. If you’re productive, you get to be a slave. If you’re a filthy subhuman parasite, then you get to live comfortably on the government dole, which is what we saw in the heyday of the Soviet Union. Slimebags never had it so good as they did back then.

      OR! – here’s a crazy idea – our economies can simply fail, allowing our dimwitted “elites” to lose their shirts and probably commit suicide en masse, and then the productive people can take over control of society again, which is what we’ve seen happen throughout human history. Productive people tend to lose control of their nations gradually, while parasites lose it within a couple of generations. Whenever one group loses control, the other group picks it up. I imagine that’s what we’re really heading for, despite the best-laid plans of the WEF. All the plans in the world don’t mean squat when your people simply snuff you out – which, again, we have seen repeatedly all throughout human history.

    • Yes – it might sound ridiculous, but the plan is exactly that: Blockchain control over every resource. They count on having enough computing power and “scanning ability” to charge you for every nail, and every plank of wood. It is even possible to scan a bag full of beans these days, and say where and when those beans have grown, charging you your due lease for the backdoor garden you have. But – on the bright side – everyone has a plan, until they get punched in the face 🙂

      https://odysee.com/@iceagefarmer:42/architecting-the-beast-system-ai-control:6

  4. The bottom of the debt pyramid that referred to is the result of the “Due Bills Doctrine” that was fostered by the Miller Brothers of the New York Fed Bank. The widespread acceptance of their ‘doctrine’ resulted in the Great Depression which contrary to the narrative was worldwide. When Hitler referred to the Jewish Bankers as the responsible parties for Germany’s woes, he was referring to the Miller boys. Roosevelt’s Senate Banking and Finance Committee that wanted the newly formed Fed’s hide and whatever was edible for lunch subpoenaed the brokers who represented the owners of the office buildings in Chicago, Pittsburgh, and New York. Knowing that they were on their way to Sing Sing Prison they took the Due Bills Doctrine, monetized the projected income from the leases of these buildings, (including the Empty State Building), and presented the net income as an annuity that is payable to the building owner and assignable to the lender. These brokers then formed the Institute for Real Estate Appraisal which today is the Appraisal Institute. Back then there were eight methods that were used for property valuation but now there are only three. The land fraud that was involved in the Florida land scam was similar and followed the general narrative that was used in the Southern California boom that ended with the depression of the 1880’s during Grant’s term in office. They now have the whole scam down to a fine art and politically structured so bias and prejudice cannot be allowed despite the prevailing market value of the ‘hood. Because nothing is truly owned fee simple any longer, pulling the plug on the scam will be a piece of cake. I have seen behind the curtain but refused to think ‘correctly’ and so I have been punished. At least I haven’t been forced to endure what Winston Smith did, yet.
    PS. look up my nom de guerre on the internet if you care to. I have a BBA in what I was doing. The Lord God also has seen what is happening and knows where it is heading. You don’t want to be around when it does. Better to be covenanted with Him instead.

  5. I am in the process of restructuring my financials around gold and silver. And I also have a large copper bank in my barn, it is a bonus I get for the dismantling jobs I do on old technologies. Copper jumped up at least twice in price in just last year. I am making a fortune here 🙂

    Anyhow – my take on the problem of the destruction of western currencies is that the west is being destroyed on purpose, but when that currency collapse finally happens, China will be ready with their Huawei powered 5G social credit surveillance/control system. Super high tech, of course, but there will also be another system. Dare I call it “The Islamic golden standard”?

    Islam may be many things, but Allah isn’t stupid. He knows what the “real money is” – Gold and Silver. The western man, on the other hand, forgot what Jesus did to the moneychangers in the Temple, and here we are.

    • These financial geniuses and the muslims really haven’t figured out that it is never nice to bankrupt a man and throw him and his family to the bloody muslims to appease the devil. Once you get that European man very very angry, he burns down countries and slaughters millions with his wrath. The powers that be and their 3rd world pets are about to unleash a beast it cannot control nor run away from, for that beast will devour all in it’s path in very horrific Medieval fashion. It will be talked about around 100,000 camp fires for a thousand years.

  6. In the long run, the so-called “Great Reset” can’t work, for the simple reason that the globalist oligarchs and billionaires have made a fundamental misreading of human nature. Specifically, “You’ll own nothing and like it” cannot work.

    Man – human beings – respond to incentives, one of the most-powerful of which is to profit by his or her own labor. Absent ownership or compensation thereto, for his labor, the entire incentive to work is undermined and eventually destroyed.

    The failure of socialist/communist societies has proved this over-and-over again, throughout history. In the old Soviet Union, the common Russian had a saying: “We pretend to work, and they pretend to pay us.”

    The late economist Milton Friedman once spoke about visiting a shoe factory in the USSR. He was astounded to see only left-handed shoes and boots. They were only making footwear for the left foot! When asked about it, he was told that the state and the party had not yet given them permission to make ones for the right! Since the workers were paid no matter what, no matter how shoddy their products, they didn’t care.

    The globalists apparently believe that man can be replaced by robots, and that of the humans who cannot be replaced by them, they can be induced to act like them and be treated like them. They are mistaken in this belief, too. Human-beings are well-aware of who’s treating them badly and who isn’t – and they have memories, long memories indeed, for such things.

    The globalists must imagine a world in which they can’t go outside without an armed escort, because that’s what they’re setting themselves up for. If they follow through with these insane plans, 98% of humanity – maybe more – will hate them with a fervor they cannot imagine, and will out for their blood. It’ll be torches-and-pitchforks time, on steroids, no less.

    No one wants that, least of all your humble correspondent, but angry mobs of hungry and destitute people tend not to listen to pleas for mercy by those who have abused them and deliberately reduced them to de facto poverty and slavery.

    “Universal basic income” …. a few people will welcome it, but the vast majority will see it for it is – an attempted bribe or payoff in return for silently acquiescing to the new dystopian way of life they – our rulers – are creating.

    • I agree 100%. My opinion is that the “globalists” – and I include all the bankers, elementary school “teachers” and “extinction rebbelion” or “blm” leaders – I believe they have no idea what it means to “really work”. And I don’t mean sweeping the pavements for the city council: I mean real hard core work in construction, energy, telecom…
      So far – they simply solve every problem by throwing money at it, and there still are millions of proffessionals willing to put in the hours and the sacrifice. But if these proffessionals will get the same money (reward) as anyone else, why bother working 30 hours straight in dirt just to keep the lights up, when you can just as well sweep the floors…
      My granddad flew Migs in Czechoslovakia. In the 1950’s, the communists made it so that the Mig pilots got the same wage as the cleaning ladies at the airbase. Because “Equality!”
      In this way, Czechoslovakia went from being one of the richest countries in the world down to a dirty communist s hole withing 40 years. CZ bikes would win world championships as late as in 1960’s. Soichiro Honda was copying “Czech technology” when making his early bikes. But in 1989 – the CZ motorbikes were still the same, like in 1960. No progress at all…

      • Those Czeck bikes had nothing on BMW’s friend. Your Grand dad probably worked for the Germans and flew BF-109’s and the Czecks built thousands of them during and after the war. The same with Panzer 4’s who they gave to the arabs to fight Israel.

    • Very well said. These powers are screwing with human nature and when nature goes beastly, it never ends well for these powers who thought they knew better. Oh the fun and reindeer games that are coming.

  7. I can’t help but think that the globalist elites have extensively war gamed this scenario, and they know that an immediate likely consequence of a financial collapse and breakdown in the credit system would be the trucks stop moving for lack of ability to pay for fuel resulting in immediate breakdown in the food delivery system to grocery stores.

    The military and combined police forces would be completely inadequate to deal with the riots which would follow for the same lack of fuel. And this system, once broken would be impossible to restart. Lack of ability to purchase fuel would mean employees at power plants would very quickly run out of the ability to get to work and those power plants would go offline and shortly thereafter most of the country would be out of power due to cascading grid failures. Ditto for natural gas and water infrastructure. The BLUF is that most of the population would very shortly die from lack of food, lack of essential medicines, diseases from drinking contaminated water, exposure to the elements, rioting, criminal activities, or being shot by those they’re trying to loot from.

    The wet dreams of Schwab and Soros are just that, or another misdirection from their real goal, which is elimination of 95% of the global population. Or, possibly they might think they will be able to direct a meltdown of the global financial and credit system into a global enslavement, but I disagree. The hubris is mind boggling, and while the elites are certainly evil, they aren’t stupid.

    • @ The Moon is a Harsh Mistress

      Re: “I can’t help but think that the globalist elites have extensively war gamed this scenario, and they know that an immediate likely consequence of a financial collapse and breakdown in the credit system would be the trucks stop moving for lack of ability to pay for fuel resulting in immediate breakdown in the food delivery system to grocery stores.”

      Yes, undoubtedly you are correct. But war games and reality are vastly different things, and the ruling class will learn that lesson anew, come what may. Professional military men – and smart businessmen, too – have a saying: “No plan survives contact with reality.”

      And the plans of these powerful people will no different. That’s the good news for humanity. The bad news is that these guys are past masters & experts at setting one group against another, a.k.a. factionalism.

      Re: “The wet dreams of Schwab and Soros are just that, or another misdirection from their real goal, which is elimination of 95% of the global population. Or, possibly they might think they will be able to direct a meltdown of the global financial and credit system into a global enslavement, but I disagree. The hubris is mind boggling, and while the elites are certainly evil, they aren’t stupid.”

      They are smart in certain ways, to be sure… but they are also foolish and quite dumb in others. Their arrogance is certainly one possible ‘Achilles Heel’ for many of them.’ Another is that they believe that anything can bought with money, that anything worth having can be purchased like so many shares of stock. That, too, is false. Not every human is for sale, at any price – some are, but many are not.

      Their population reduction goals are a matter of public record at places like the Georgia Guide-Stones., Agenda 21/2030, etc. They are quite mistaken that some five billion souls will simply consent to being switched off like some light switch. The entire nation of India, for example, which numbers more than a billion people all by itself, has already dissented from the planned program and is acting on its own. They won’t be the last.

      As more and more people awaken to the enormity of the crimes being committed against them, those tech billionaires may want to hunker down in those secret hideaways in New Zealand or wherever, since they will figure out pretty quickly that they won’t be welcomed much of anywhere else once the proverbial cat is out of the bag.

    • I believe that they also made live excercises, in Rhodesia, and in Venezuela…

      If that “total blackout” scenario goes through, then once the lights are out, there will be ethnic war in Europe the very next day, I believe. Hundreds of thousands of battle hardened Afghanis will start killing millions of Europeans at once. I have no doubt about it.

      I am not so much worried for “eastern Europe” in this regard. But when I see the Austrians and Germans, I can’t help but think how they behave as sheep watching how the wolfs are being transported in, and so far, the wolfs are being fed enough not to touch the sheep. But once the feed is cut, all bets are off.

      I would like to be wrong, but I think that Western Europe is being set up for slaughter.

      • Don’t worry too much about the western half of Europe, once the militaries take over, the culling of every 3rd worlder will begin in earnest. As for the alphabet people, feminaxi’s and leftist hangers on, they too will line lamp posts, ditches and walls with a vengeance along with their 3rd world pets. We are tribal by nature, and these marxist sob’s mess with human nature at their peril, because nature, one way or another, always bites back. There are over 500 million arms and trillions of rounds of ammo and other weapons systems that lie in thousands of miles of bunkers and tunnels all over Europe ready to be unleashed at a moments notice. The so called elite believe they can control the militaries, they don’t realize that the man who holds the guns and will use them are the true rulers. They are all about to find out to their collective horror.

      • @ Barn Swallow

        Granted, after decades of brainwashing and attacks upon traditional masculinity, places like Germany aren’t look so good right now, and perhaps neither are their men. But fear not… the martial skills are buried deep within their DNA since that bit of unpleasantness during WWII, but make no mistake, they are still very much there.

        The Germans do have a problem, however: The Muslims most-drawn to their nation are the Turks, and they are no pushover when it comes to making war. They’re a tough out, as the Australians and New Zealand troops found out at places like Gallipoli during the Great War.

        Worse still for traditional Germans, the forces of the European Union and NATO might very well take the side of the immigrants, and not them!

        • The militaries of Europe will be for their own people, for they have nothing in common with a 3rd worlder, but have thousands of years DNA with their own. Once the balloon goes up, they will take over and cooperate with one another to rid themselves of the 3rd world pestilence and leftist vermin. As for the bloody turks? Germans despise them with a smile. They are all located within cities that can easily be sieged and starved out and with some urban renewal by howitzer, can be reduced to nothing but starving masses for the cleanup crews.

  8. For US states with annual assessments for property tax purposes, if there is hyperinflation, a lot of people get to lose their houses. People lose homes because of property taxes all the time. Imagine if those tax bill spike and then you lose your job or you are close to retirement and you own your home.

    • @ One of the Quiet Ones

      There are two dangerous kinds of men: Those with everything to lose, and those with nothing to lose. If the globalist billionaires are foolish-enough to actually throw tens of millions of people out of house-and-home, and deprive them of the means to earn a living, guess what those people will do? Grab torches and pitchforks, and start marching toward the tyrant’s mansion, that’s what. No sane person should want that, but whoever said these guys were sane?

    • They can come try to take those homes, taxes be damned. You will find that a man faced with homelessness and his home will pick his home everytime, I would hate to be the guy who tries to evict that man from his home or property. There will be a lot of dead people who try after the coming collapse.

      • @ G

        The basis of English common law, which has informed so much of American law since the founding of our republic, is that a man’s home is his castle. I see your point: Someone pushed against the wall will fight very hard indeed to keep what he views as rightfully his – especially if it involves the safety of his family. Are the globalist billionaires actually dumb-enough to open that particular can of whoop a**? Stay tuned and we’ll find out….

      • Agree that banks might try to use law enforcement to evict people from their homes, and in some instances it might actually succeed. More likely is they’ll just have all power, water, heat, gas, sanitation, etc cut off, and freeze bank accounts and access to credit of anyone living at the address. Most would be forced to leave on their own after a couple days of no heat in the middle of winter, or no ac in a hot summer. Shutting off water would mean no toilets, showers, clean clothes, or food prep. There would be no need to expose LE personnel to physical harm or possibly choosing to take sides against the banks if forced to do evictions.

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