2015 crash part 2 of 4

2015 CRASH part 2

I believe our buddy over at Peak Prosperity, the author of Crash Course ( field reports from minions report that his newest book “Prosper” is underwhelming ), was the first to popularize the concept of banking and oil tied together moving our economy.  If oil supplies kept growing ( going back further, if all carbon fuels kept growing to power industrialization and mercantilism ) then debt could keep growing because extra energy introduced into our economy was extra wealth which was mandatory to pay back the interest on debt.  Without wealth growth, conjured up by growing energy, no extra money was available to pay the interest.  Not on all the old debt and certainly not on any new debt.  And as we might have discussed a time or two, without central banks creating debt you can’t grow an industrial empire which controls the world.  The reason England became the world super power before us was because it had the central bank which worked the best, providing credit to invest and expand, rule and conquer.  The price was ceding control of certain assets to the private bankers.  Whose profits were the interest paid on debt ( this isn’t an evil nefarious plot by Jews or the Illuminati or Little Green Space Men.  The government benefited handsomely in this arrangement, and so it came to be ).  And that interest was paid by the wealth created by colonizing and harvesting extra energy ( in the form of food and nitrates-the Spanish focused on gold, which ultimately doesn’t produce gunpowder or feed a growing population.  Poor misguided bastards ).

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You can bet that the US power elite was well aware of this dynamic.  They tried to start a central bank from Day One of the founding of the republic ( sad to say, more than likely it wasn’t strong freedom minded individuals who thwarted its formation, but most likely the world power central bank in England who wished to keep us as a resource producing colony rather than a competitor.  After it was plain that Germany was eclipsing Britain economically and militarily, the owners of the English central bank jumped ship, came over here, used a few Quislings to push through legislature and set up house in the brand new Federal Reserve Bank, a new relatively unexploited continent ripe for the plucking and the old corpse left to rot quickly and thoroughly ).  The east coast Yankee Scum went far in turning slave trade profits into mills and factories, colonized the South and did a great job kicking the crap out of a sickly aged Spanish empire to acquire the Philippians and other islands, but we never would have grown enough to become the new empire the sun never set on if we didn’t have a central bank to fund our climb to the top.  Dictators in the Fed Gov were well aware of the Faustian bargain they signed to be all powerful, and none cared the slightest since at first it seemed the deal implied centuries long rule before collapse ( oops!  They didn’t see the very new rich prize of oil being on a much shorter lifespan ).  Continued next article.

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