Blog

Alamy

All Hail Our Banking Overlords!

We work for them, plain & simple
Friday, July 17, 2015, 4:39 PM

You really have to be paying attention to see what’s truly going on these days. The keepers of the system, that is the banking elites, now openly control everything -- though you'd never know that by listening to the media.

Consider this:

Eurozone backs €7bn bridging loan

Jul 16, 2105

Eurozone ministers have agreed to give Greece a €7bn (£5bn) bridging loan from an EU-wide fund to keep its finances afloat until a bailout is approved.

The loan is expected to be confirmed on Friday by all EU member states.

In another development, the European Central Bank (ECB) agreed to increase emergency funding to Greece for the first time since it was frozen in June.

The decisions were made after Greek MPs passed tough reforms as part of a eurozone bailout deal.

How generous of the finance ministers of all those EU member states to agree to a “bridge loan” that will help Greece "keep its finances afloat". This should provide the people of Greece with a bit of breathing room, right? Maybe access to their bank accounts (finally!), perhaps?

No, not at all. Here’s what the entirety of the “”loan”” will go towards instead:

The bridging loan means Greece will be able to repay debts to the ECB and IMF on Monday.

Ummmm…that “money” will not ever go anywhere near Greece.

This is all merely electronic window-dressing for entirely esoteric bookkeeping purposes. Servers will blink at one location in Europe as digital 1s and 0s are transmitted to another. The electronic balances at the ECB and the IMF will change, but not much else.

The people of Greece will see none of it. Nor will they see their bank accounts unfrozen.

This act of banker "largess" is, of course, of, by, and entirely for the bankers. It has nothing to do with Greece or its people, about whom the banker class cannot care less.   

But, they hide this disdain under and increasingly thin and condescending veneer of graciousness. Take, for example, the recently-announced 'generosity' of the powers that be -- that is, the banking powers that be -- which will permit the long suffering depositors to…*cough*…deposit more money into the banks:

Greece: Banks Can Reopen ... for Deposits

Jul 17, 2015

Greek banks will reopen Monday after a three-week closure, the country's deputy finance minister says, though withdrawal restrictions will stay in place. Bank customers "can deposit cash, they can transfer money from one account to the other," but they can't withdraw money except at ATMs, the official says, and a withdrawal limit of 60 euros ($67) a day will stay in place, he said, though Greek authorities are working on a plan to allow people to roll over access to their funds so that if they don't make it to a bank machine one day, they can take out 120 euros the next day.

Yeah, depositing more money into the Greek banking system is exactly what all 12 remaining Greek idiots are clamoring to do...everybody else just wants their money back, thank-you-very-much.

Obviously, the only rational response of anybody in Europe watching this charade of theft continue would be to sell gold, right? (which has happened vigorously ever since the Greek crisis began) Because, you know, nothing says “confidence” quite like selling your gold so you can then park that money in a bank that may not let you withdraw it again.

Of course, we here at Peak Prosperity hold to the view that everything, and we mean everything, in our ””markets”” is stage-managed. And that especially includes gold. The central banks are demanding and commanding complete fealty to their story line, no exceptions tolerated.  We are at that all-or-nothing moment in history when everything either works out perfectly or it all falls apart.

Savers have to be punished so debtors can be saved.

Why? Because if debtors are rescued, that makes it possible for more debts to be issued in the future..

And why is that important? Because the banking system needs ever more loans in order to survive.

Why do we slavishly feed a banking system that is rapacious, insatiable and always threatening calamity whenever it doesn’t get exactly everything it wants, when it wants it? That is a question nobody in power is willing to address.

Why not? Because there's no good reason to do it -- unless you're a bank, or one of the many proxy agents (like politicians) receiving kick-backs from the banks.

We have a banking system that feeds on the blood, sweat and tears of the public. But the public's collective output is no longer ‘enough’ to subsidize everything that central planners have promised. So with a stagnating/shrinking pie – surprise! – the group that writes the rules, the banks, has decided that they should be the ones to get as much of it as possible.

Naturally, this will not work for very long.  History is replete with examples why it can’t.  Just consider the root meaning of “bankrupt” which has an interesting history:

The word actually comes from Italian banca rotta, a broken bench (not a rotten one, as the false friend of Italian rotta might suggest — it’s from Latin rumpere, to break). The bench was a literal one, however: it was the usual Italian word for a money dealer’s table.  In his dictionary, the great Dr Johnson retold the legend that when an Italian money trader became insolvent, his table was broken. 

(Source)

To “break the banker’s table” means to smash the money lender’s physical place of business after they have taken or lost all of your wealth.  It’s speaks of an act of anger by the betrayed. And that’s where the banking system finds itself again and again over time, for the exact same reasons all through history -- today being no different in anything but scale and complexity.

Conclusion

You have to read past the headlines today because they quite often say exactly the opposite of what’s actually happening.  Like today’s description spinning GE’s 2Q, $1.38 billion earnings loss as a 5% rise in profits.

The bankers and financiers are badly overplaying their hands, again, and people are starting to catch on to the scam.

Real wealth is tangible things produced with tangible effort. Loans made out of thin-air 'money' require no effort and are entirely ephemeral.  But if those loans are used to acquire real ownership of real assets, then something has been exchanged for nothing and one party is getting screwed.

That’s what has just happened in Greece. And expect it to happen increasingly elsewhere, as Charles Hughes Smith and I recently discussed in this week's excellent Off The Cuff podcast.

If you had asked me ten years ago if there was any chance of Greece becoming a failed state within a decade, I would have said ‘No, no chance.’  But here we are. In ten years, I suspect, we’ll be marveling over all the other failed states as the rot proceeds from the outside in. Again, Charles does a wonderful job articulating why in his recent report More Sovereign Defaults Are Coming.

There’s simply too much debt and too little cheap oil for there to be any other trajectory to this story. Boneheadedly, our leadership is so out-of-touch that their best response to this set of predicaments is to sacrifice the populace of an entire developed nation (for generations to come) just to keep the status quo stumbling along for a bit longer.

We need to all prepare for the inevitability that, as the rot proceeds, the people of Greece will not be the only casualties of the banks' attempts at self-preservation. They'll try to throw all of us under the bus before taking any losses themselves.

~ Chris Martenson

Endorsed Financial Adviser Endorsed Financial Adviser

Looking for a financial adviser who sees the world through a similar lens as we do? Free consultation available.

Learn More »
Read Our New Book "Prosper!"Read Our New Book

Prosper! is a "how to" guide for living well no matter what the future brings.

Learn More »

 

Related content

27 Comments

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
Why don't small banks revolt?

Are small banks getting any of the big bank benefits?  If not, they should leave the FED System.  But would the military then take over the local small banks?

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2839
Banksters

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2839
Oh, yeah...almost forgot

Hail Xenu.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The cure to madness.

We are in the grips of a psychosis. The whole banking thing is an extreme example of the despotism of the Left Brain.

We are only using one of two brains. I am sure Christine la Guard and her peers think that their world views are sound. They are not. They are the product of a florid madness, up to and including lack of insight.

What they need is a good dose of Ayahuasca,  which is why it is banned. The Left brain knows that Ayahuasca will be fatal to its power, and is terrified. 

Once again Dr. McGilchrist.

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5456
revolution against the overlords

The good news is, we have the power to stage a solo revolution against the overlords.

CAF talked about the "tapeworm economy":

... What a tapeworm does is inject into you a chemical that makes you crave what's good for the tapeworm — so you are the one who feeds yourself whatever it is the tapeworm wants.
 
And so you go through this process where you feed the tapeworm and the tapeworm grows stronger and stronger and stronger, and you grow weaker and weaker and weaker.
 
And that's a very beautiful description of our relationship with what Eisenhower called the "military-industrial complex" — and the financial sector — which has grown like a big, fat tapeworm, particularly in the past fifteen years.
 
Because if you look at the tapeworm economy, the media feeds us information about what's good for the tapeworm and bad for us. So we watch TV or we listen to the TV news, and we're encouraged to do things that make money for big corporations, but in ways that reduce either our physical equity or our financial equity.
 
So they get richer and we get poorer. And so we have this dynamic where we're the host, and we're feeding the tapeworm, and the more we feed the tapeworm, the more powerful it gets, and the more we lose.
 
So a tapeworm economy is an economy where a few insiders can constantly drain subsidy from the outsiders in a way that preserves their wealth, but it shrinks total wealth, because the host is getting weaker and weaker and weaker.
Individually, we have the power to stop feeding the tapeworm, but it requires going against the flow of the rest of society to do so.  We have to consciously stop consuming the things the tapeworm wants, and that takes effort.  I think we all know that here, but I'll repeat it just because I like hearing it myself.  I like knowing we have the power, and that its not hopeless.

Society surrounds us with marketing/propaganda that all focus on us feeding the tapeworm.  Depressed?  Don't explore to find the root cause, just take a pill.  Unhappy at work?  Buy a new car - on credit!  Easy payment terms!  You'll feel like an instant success.  Feeling poor?  Get a credit card and "live richly."  Upset about your life?  Political talk shows will push your favorite buttons: wars on christmas,  gays getting married (the horror!), guns are responsible for all violence everywhere so we should ban them all, the Iranians (or someone else) are going to end the world if we don't attack them immediately, etc.

I see society as a million tiny streams all currently feeding step by step into the grand river of the tapeworm.  I try to do my part to dry up the one tiny stream coming from my life.  I have that power, and I'm using it as best I can.

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Good post Dave.

I'm glad that someone of your caliber is taking CAF seriously. She has some profound insights. Not all of them would be welcome by people with sclerotic imaginations.

BTW I think I was just offered a limitless credit card. I do not know because it was instantaneously dismissed.

Nichoman's picture
Nichoman
Status: Gold Member (Offline)
Joined: Nov 1 2008
Posts: 422
Bankers & Government Joined at The Hip?

Chris hit on a key point...

 

Savers have to be punished so debtors can be saved.

Why? Because if debtors are rescued, that makes it possible for more debts to be issued in the future..

And why is that important? Because the banking system needs ever more loans in order to survive.

 

Some questions to consider...

If Bankers & Governments (both are in the business of debt) are joined at the hip, isn't this what constitutes central planners & results in Manipulated Markets?

Now, who produces wealth?   People or Institutions?

As long as people think they need the institutions, instead of the other way around, the runaway train will accelerate down the hill...until it crashes (the system fails).      "Crisis in Confidence".

 

 

 

 

Atreat's picture
Atreat
Status: Bronze Member (Offline)
Joined: Dec 4 2011
Posts: 33
T2H Thanks for the George C reminder

Thanks for posting this!!  I try to watch this every now and then.  It's just so clear.  I have nothing to add to what Carlin has to say in 3.5 minutes about how the world works.  Perfect.

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1922
Chris' article very well received on zerohedge

and my facebook page.

:-)

http://www.zerohedge.com/news/2015-07-18/all-hail-our-banking-overlords

Hladini's picture
Hladini
Status: Bronze Member (Offline)
Joined: Dec 28 2011
Posts: 83
What is CAF?

I'm doing my little tiny part to dry up the stream, too!  No meat, fish or eggs in 32 years means I have not supported the big-ag/GMO/depletion of water and topsoil industries.  No television since 1983 (which means no cable or satellite tv).  No cell phone for last 2 years.  Growing soil, annuals and perrenials.  Diversified income.  Developing a community.

The tapeworm analogy is spot on.  What is CAF?

 

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2839
Hladini's picture
Hladini
Status: Bronze Member (Offline)
Joined: Dec 28 2011
Posts: 83
Chris is Getting Pissed

Chris fantastic article and insight on the Robber Baron Bankers of the 21st Century.   I have followed you for a number of years now, and I see your patience wearing thin, anger and incredulality rising along with the tenor of your words.  If only we could get a candidate with the campaign slogan: "It's the Banks, Stupid."

I have gone from writing very polite letters and making very polite phone calls to my representatives to getting more angry, more impatient,  and more sarcastic in my written and spoke words. 

The good news is that everything, without exception, is temporary.  The Banksters will have their day of reckoning.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2839
Re: Chris is Getting Pissed

The whole planet is getting pissed.  The awake part of it, that is.

David Allan's picture
David Allan
Status: Silver Member (Offline)
Joined: Nov 15 2009
Posts: 105
Better get used to it

Whenever a particularly egregious offence is committed - like the Greek situation or gold being smashed $50 in under 2 minutes - I find it useful to 'zoom out' or 'chunk up' to the big picture. It helps diffuse the emotional affront. These events are simply symptoms of the stresses in  of a civilization that is  absolutely dependent on growth but less and less able to achieve it. And things have barely started to unwind yet...

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2839
FIFY
davidallan wrote:

These events are simply symptoms of the stresses of a civilization monetary system that is absolutely dependent on growth but less and less able to achieve it. And things have barely started to unwind yet...

Civilization doesn't have to be dependent on growth. It just is - in the context of the existing narrative.

David Allan's picture
David Allan
Status: Silver Member (Offline)
Joined: Nov 15 2009
Posts: 105
The real stinger...

Yes, you are quite right T2H, but the real stinger is that the financial system can not be disentangled from the rest of civilization. Our society is patterned and structured on growth. So is critical infrastructure. At every juncture it is coupled to the money system. And therein lies the bitter pill; when the economy collapses so does our global, technological society. A new world and a new narrative are possible but they can't emerge till the old one has been erased.

kaimu's picture
kaimu
Status: Silver Member (Offline)
Joined: Sep 20 2013
Posts: 160
WETDREAMS

Aloha! The cure for the troublesome tapeworm is quite simple ...

Certain medicines are used to remove it, such as Praziquantel or Albendazole. Physicians also give enema treatment to the patient to completely remove tapeworms.

The entire banking and political system in the USA needs a great BIG enema!!!! Even if we have to drain Hoover Dam!!! 

Oseld's picture
Oseld
Status: Member (Offline)
Joined: Aug 4 2015
Posts: 1
George's Farewell Address

Yep, ol' George knew a thing or two about a thing or two. We could sure use him now.

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2247
"That's their playbook"

I like Rob Kirby, , and found an interesting podcast with him at Dr. Dave Janda's site,  "Operation Freedom", @ http://www.davejanda.com/guests/rob-kirby/sunday-august-2-2015

Check out 15:12+ ... It sure sounds like the economic pain we are/will be experiencing isn't "by accident", nor are the attacks against our countries' sovereignty.

Jim H's picture
Jim H
Status: Diamond Member (Offline)
Joined: Jun 8 2009
Posts: 2387
I like Kirby too..

He is a sincere guy.. experienced the beginnings of the era of derivatives from inside the banking system.  My favorite commentators (other than Chris) happen to be folks who experienced the rot from the inside, and had to leave before they died of the smell... guys like Krieger, Kirby, and Kranzler.  Thanks for posting Pinecarr.  

edit:  apparently I like k-names too. 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1922
Janda, Kirby and Carroll Quigley

I listened to the Dave Janda podcast with Rob Kirby (15:00 mark) posted above by Pinecarr.  Thanks.

I have heard a couple of times about the writings of Carroll Quigley, Georgetown University professor that had such an impact on Bill Clinton's thinking.  Bill Clinton referred to Carroll Quigley by name in his speech where he accepted the Democratic nomination for presidency.  (My guess here is that by this mentioning Quigley's name, he was nodding and winking to the oligarchy and signaling "I will represent you if elected.")

I'll put out 2 of Quigley's more famous quotes here.

And,

“The argument that the two parties [Republican and Democratic] should represent opposed ideals and policies... is a foolish idea. Instead, the two parties should be almost identical, so that the American people can throw the rascals out at any election without leading to any profound or extensive shifts in policy. Then it should be possible to replace it, every four years if necessary, by the other party which will be none of these things but will still pursue, with new vigor, approximately the same basic policies.”
― Carroll Quigley

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2247
More on Kirby interview

Hi Jim H, I agree; nothing like (Kirby and others) having had an inside view to "see" what's going on!

SP, the other line they quoted in the Kirby interview that resonated -from a book written in 1966- was:

"Each Central Bank sought to dominate its government by its ability to control treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world." [bold mine]

Cornelius999's picture
Cornelius999
Status: Gold Member (Offline)
Joined: Oct 17 2008
Posts: 379
Feudal Control

Thanks for those telling quotations SandPuppy and Pinecarr.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2839
.

         

Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 523
Thats an original

way to destroy banking fraud and corruption, no doubt ordered from the top. Cover it in rubble, saves a lot of trouble! 

What happened to that third plane by the way?

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2839
You know, it's all just treason

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1922
Who is the "deep state" and how are they organized?

If any of you are up late and in a thoughtful mood, here are 2 interviews from the Project Censored Website from a year ago.  These interviews seem to reflect the writing of Charles Hugh Smith on the deep state, also.

The first is with Mike Lofgren, writing for Moyers and Company, and reported by Project Censored.  "The Deep State: Government without reference to the consent of the governed."

It is no secret that concerned citizens are condemning the United States government’s lack of transparency, accountability, and honest constituent representation. Reporting for Moyers & Company, Mike Lofgren, a congressional staff member for twenty-eight years specializing in national security, addressed the issue of the “deep state” that undemocratically orchestrates unchecked private agendas, while corporate media distract the public’s attention by focusing on traditional Washington partisan politics. Lofgren contended that, although the deep state is “neither omniscient nor invincible,” it is a “relentlessly well entrenched,” “hybrid association of elements of government and parts of top-level finance and industry that is effectively able to govern the United States without reference to the consent of the governed.

 

Exploiting the world’s resources and governments with criminal impunity, a wealthy elite—sporting an estimated $32 trillion in tax-exempt offshore havens—are the deep dark secret of plutocratic imperialism, operating behind more visible, privately controlled government representatives. Rep. Spencer Bachus (R-AL), the House Financial Services Committee incoming chairman in 2010, openly flouted constitutional rights when he stated, “My view is that Washington and the regulators are there to serve the banks.”

full essay here

The second is an hour long interview by the Project Censored staff with Peter Dale Scott, Professor Emeritus at University of California and former Canadian Ambassador. 

Scott describes a transnational, loosely organized group of ultra-wealthy who influence / control covert sections (black budget) of various militaries and intelligence agencies.  He does not see this as a formal group, though some sections are formally organized, especially the US Continuity of Government (COG) operation.

Scott speaks of his 3 main areas of concern about what the deep state is up to:

1.  Warrantless surveillance,

2.  Warrantless detention

3.  The militarization of Homeland Security, with the domestic stationing of an Army command, NORTHCOM for the purpose of controlling domestic disturbances.

He talks about the formation of the COG rules by Dick Cheney and Donald Rumsfeld over a 20 year period and the irony that it was these same two individuals who activated the COG rules on September 14, 2001, 3 days after the attack.

It was the COG communication network that Oliver North used to arrange shipment of arms to Iran illegally.

One of the big changes I am seeing here is that it is becoming socially acceptable to talk about the deep state without being disparaged with the pseudo-psychiatric diagnosis of "conspiracy theorist."

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments