I am not We

120
Wed, Oct 16, 2013 - 10:26am

Just for fun, I thought it would be fun to see what the late Puck T. Smith thought of the previous debt debacle in 2011.

Below is a short post of Puck's from his blogspot site:

FRIDAY, JULY 22, 2011
I am not "we"

I am not "we." I did not incur the debt. I do not owe one single cent of it. My signature is on none of their fraudulent instruments. It is their problem and they are trying to fix it by destroying what little value is left in the US dollar--and all other currencies for that matter. There is nothing you nor I nor anyone else is going to be able to do about it.

Call me a doomsayer, but I am convinced it is at most a matter of a few months before shit is really going to start coming unglued. This is the culmination of 100 years of either colossal ignorance or diabolic intent (or some malignant symbiosis of the two). There is no one in any position of power who has any clue about how to manage the Frankenstein clusterfuck of fractional reserve central fiat banking at the exponential culmination of compound interest.

All paper is on the verge of reverting to its inherent worth. I intend to be completely out of it by the end of next week with the exception of day-to-day living from my paycheck. My money will weigh a lot, shine and be well hidden.
POSTED BY PUCK T. SMITH AT 8:43 PM

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Dyna mo hum
Oct 17, 2013 - 12:04pm

CHASE FEES ON CASH; LIMITS WITHDRAWALS ON SOME ACCOUNTS

This is big news for some folks...for us not so much...

Wizard
Oct 17, 2013 - 11:26am
Hammer
Oct 17, 2013 - 11:01am

Classic ! India's central

Classic !

India's central bank governor, Raghuram Rajan, said India has a reserve of $280 billion which is 15% of its GDP. "The country can pay three-fourth of its debt from its Forex reserves," First Post cites him saying.

"We bought over $60 billion dollar gold last year. $60 billion accounts for three-fourth of our current account deficit," he said. "If the push comes to shove, we can pay the world in gold."

Rajan also said that India will not approach the IMF for financing in the next five years, adding that countries only go the IMF when they are "desperate."


Read more: https://www.businessinsider.com/rajan-india-will-sell-gold-to-pay-debt-2013-10#ixzz2hzY1C36q
Hammer
Oct 17, 2013 - 10:51am

With the above article in

With the above article in mind, I propose somewhat tongue in cheek, that we stop calling any spotlight currency the Reserve Currency and henceforth start calling it Reserve Debt (with interest). Whaddya think ? Who's with me ? :)

Leeroy Jenkins
Mr. Fix
Oct 17, 2013 - 10:49am

And now a brief gloat from the dictator in chief:

Obama Victory Lap Tour: Day One - Live Webcast

Submitted by Tyler Durden on 10/17/2013 - 10:34

Yesterday, before the House vote, Obama's pre-GOP capitulation speech was technically Day Zero. In a few moments, the president will take his victory lap tour on the road for the next three months, at which point the next season of the government shutdown/debt ceiling soap opera returns. One notable difference between yesterday and today: then, he wasn't late; now, he is.

Hammer
Oct 17, 2013 - 10:26am

I think this is a comment

I think this is a comment dear Puck wouldn't have minded on a thread with his name on it (highlights are mine). Excerpts from a much larger article

Global Debt, Global Currency By Golem XIV on October 17, 2013 in latest

With the latest installment of the ‘US debt ceiling’ melodrama over, for now, perhaps it’s a good time to ask, what was it all about really?

I know that officially it was supposed to be an edge of your seat, high stakes thriller about how much debt the US government can carry before some disaster strikes, and who has the authority to decide. But I think that behind the lumbering domestic stage show there was actually a different, larger battle, with different stakes, being played out. The debt ceiling debate was, to my mind, something of a proxy war. Real for those caught up in its angry rhetoric, but seen from further away, clearly just a local manifestation of something deeper, and something being directed by different people than those making speaches in the spot-light.

Actually I think the fight over the US debt ceiling is a proxy for who controls the world’s real reserve currency. And that currency is not the dollar. I suggest we would understand events more simply if we recognized that the world’s real reserve currency is debt -pure debt. We should not be confused by the fact that debt, globally, is denominated in several forms. Much like the dollar comes in bills of ten and twenty, so the debt currency comes in dollars, euros, Yen and Yuan. But they are not the currency itself they are just the different bills it comes in.

In Britain we have pound notes issued by the Bank of England but also by the Royal Bank of Scotland, Clydesdale and Ulster Bank, but they are not different currencies, they are all pounds no matter whose logo in on the notes. I think globally we are now in the early and perhaps not quite recognized days of a similar situation. It is debt which is globally traded and used to settle and value all deals everywhere. The problem is this global debt system is not yet fully formed. It is still umbillically tied to the old system of national currencies and their issuers. And like mummies everywhere the old issuers like to think they are in charge long after they no longer are.

If you are willing to accept this idea, at least for argument’s sake, then the domestic dramas in different countries over how much of this or that kind of debt backed note with this or that logo on it, should be permitted, take on a different character. I am not saying that the domestic arguments over how many dollars or euroes can be printed up, how much debt should be carried are unimportant. They are important and do have profound real life consequences for people and businesses. But I am saying that the driving logic is not domestic and nor is it controlled or even understood by most of the domestic players.....................................................................................

............................................The Democrats and Republicans think they are arguing over who should control the amount of debt the Fed will take on. Not realizing that neither of them, neither Republican nor Democrat controls the matter over which they are arguing. Neither do they realize – not fully at least – that theirs s no longer a theatre of power, it is mostly just a theatre. Power, fundamental power, has moved elsewhere.

What the debt-celing debate was about, I suggest, was a fight between those who think they control the Fed and the currency (because once they did) and those who do control it but would prefer we not quite realize this.

I think the real battle going on is between the financial players led by the global banks, assorted funds and Insurers, all of whom are very much addicted to fiat debt-money, and a dwindling cadre of politicians who still think central banks control the currencies and elected officials decide how much debt is enough......................................................................................

.....................................What our politicians – most of them but crucially not all of them – seem reluctant to underdstand is that neither the FED nor the ECB nor any other central authority, can limit the amount of debt that is issued into the global markets. The banks issue the debt not governments. But that debt, conjured into existence by extending loans does then, particularly in periods of market uncertainty, ‘need’ – or rather or ‘demand’ - backing from a national currency. This creates a pressure on central banks to ‘issue’ more sovereign debt paper to provide the backing for the ALREADY created debt.

The big banks issue the reserve currency. It is a global reserve currency and replaced the dollar some time ago, only no one noticed becaue they kept the old brand name going. It’s not even as if it is just American financial intitutions which issue dollar debt which the Fed finds itself being forced to cover – foreign banks do it to. And anyone who issues dollar denominated debt has a hand on the strings which move the Fed around. Obviously the same is true for other major currencies and their contral banks.

The governments and central banks can try to influence the creation of debt though interest rates or ‘stress tests’ and setting levels of ‘regulatory capital’ that must be held. But all of these can be and are gamed by the banks. And when gaming is not sufficient then a debt crisis can be brought in to play to force the reluctant politicians to do what they ‘must’. And that last ploy is the debt ceiling.

for the rest of the article........https://www.golemxiv.co.uk/2013/10/global-debt-global-currency/?utm_source=rss&utm_medium=rss&utm_campaign=global-debt-global-currency

mac
Oct 17, 2013 - 10:01am

China downgrades US

https://www.businessinsider.com/dagong-downgrades-us-to-a--2013-10

from Max Keiser's site...very timely...China Downgrades USD Debt to A-

ancientmoney
Oct 17, 2013 - 9:55am

China and Maloney's video . . .

As we know, China has played ball with the U.S. for several decades.

Why not? They had nothing to lose and everything to gain.

The Chinese revamped their industrial complex in about 1/4 the time it took the U.S. during the industrial revolution. Using western finance and technology.

Now, they own the factories that make most of the things we use in everyday life. Their people have the middle class jobs.

Sure, we bought their production with debt, USTs, etc. China now sits on nearly $2T of dollars, which they know are simply digits created in computer systems, as per Maloney's vid.

But, they have the technology and plants now. And, Geithner promised them access to western gold in exchange for not crashing the financial system by dumping, en masse, their USTs.

China holds the cards. There will not be nuclear war with China, as the elites on both sides realize that is a death sentence for everyone, including them. There could be tactical use of nukes for terrorism purposes, such as EMP strike, and/or for selected population extermination. But all-out nuclear war is taboo for the elites.

When China declares they have had enough, and they seem to be hinting that way lately, then we see the hyperinflation, bail-ins, martial law, etc.

The current corrupt system, as perverted as it is, can continue as long as the elites here want it to, so long as they have the blessing of China and, to a lesser extent, the ROW.

The elites do not care about the U.S. Republic; they care only about their own wealth and power. However they can find ways to maintain it, they will do so.

They will sell out to China when it is in their interest to do so, and when they are safely out of harm's way. In fact, as mentioned, western gold moving east is one example that proves the sellout is underway.

Since the people have no clue that this process is ongoing, it may be wise to learn Mandarin soon, so we can converse with our new masters.

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HappyNow
Oct 17, 2013 - 9:41am

I find it odd that Chase is

I find it odd that Chase is limiting cash deposits. While we all focus on the withdrawal part the wording is that the combination of withdrawal and deposit is $50,000 per account.

To me the whole thing sounds like they were told to get real about money laundering.

Patrancus
Oct 17, 2013 - 9:36am

The only Hard numbers

that continue to remain intact are the sequester numbers. demoralcrats and rinorepublicants tried to quietly do away with sequester but failed, it is the only part of the deal that the people can hold onto and say they won at least to wage battle another day in the not so distant future.

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