Could this be the spark that starts a global revolution? Tiny Buddhist Bhutan and the economics of happiness:
Must see video. Why did the financial crash or “credit crunch” happen? Why was President Kennedy murdered. What is happening in the world. If you want answers to the most serious questions facing us, if you care about human rights and freedom, please take the time to watch
You might think I’m telling you old news here, and I am. This is about a man who died 68 years ago. What has it got to do with today? This man understood exactly how bankers use creation of false credit and then financial busts or “credit crunches” to steal from the public and line their pockets for total control.
One five sentence quote sums up the problems with banking, the thieving nature of the very basis of debt-banking, the position we find ourselves facing today, the solution and, the fact that massive accumulated wealth in the hands of a few is a bad thing.
Josiah Charles Stamp, the 1st Baron Stamp was born on June 21, 1880 and died during the Blitz of London in World war two. He was a director of the Bank of England and the second richest man in the country when in a talk at the University of Texas in the 1920′s he said the following:
Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money .
Now there is an honest and honourable man: Wishing for the demise of his own great fortune because he saw the reality of the situation in which we find ourselves.
His fortune was quite diminished by the events of his death. His eldest son Wilfred died in the same house, hit by the same bomb at the same time. Under English law (at the time – I do not know if this has changed) there was a legal fiction that where the order of deaths of parties can not be established, the eldest is assumed to have died first.
Perhaps because of Stamp’s clear insight into the nature of the abyss into which society was headed his death and inheritence were treated unfairly. Despite the obvious fact that both Stamp and his son died simultaneously, it was determined that Stamp had died before his eldest son, who therefore inherited his title and wealth (albeit very briefly and not that he got a chance to enjoy it).
This meant that the already dead Wilfred paid death duties on the estate, then the estate and title were inherited immediately from Wilfred by his younger brother Trevor. Trevor Stamp also had to pay death duties and thus Stamp’s fortune and the power of his descendants was quite disrupted by this inequitable behaviour. Perhaps after the things he said it was decided this would be a good way of demoralising his remaining offspring and putting limits on them.
On July 26th 2007 I predicted the current state of global markets in this post.
There is a false idea in the market now that the worst may be over but I promise you it has just begun. The long term support levels for the Dow Jones Industrial Average are in the range of 2,500 – 4,500 points. We are very likely to see the Dow Jones under 7,500 by Christmas – if not under 5,000. This may happen much more quickly than that – the ostriches have mostly lifted their heads from under the stand and are looking around them wondering what to do. Most seem to quickly turn into lemmings and jump off the cliff when they take in the landscape.
Every time the market rises a little the sellers will arrive.
The problems with the economy are structural, deep-rooted and will not be solved by each country nationalising it’s banking industry or part thereof. Though this surely marks Capitalisms’ greatest failure point yet it merely delays the inevitable in terms of economic downturn by a matter of days or weeks.
The current state of the markets recognises that – the gains made since the weekend are quickly being lost as wise investors are continuing to sell, whilst the sheep who think “it can’t get worse” pour good money after bad into the dying markets.
There will be significant global economic hardship over the coming two years.
Equities are still significantly overpriced in major markets, asset values having divorced from reality in 1992 or thereabouts and having never returned to an appropriate level.
What is an appropriate level? An ordinary family needs to be able to buy an ordinary house without being mortgaged to an impossible level. On this basis the UK and US housing markets are something like 50% overpriced.
The equity markets are going to yoyo for a while – but do not be in doubt – the trend will be strongly downwards, and for some time to come.
Super-Bank-Bail-Out-Rescue-Man will not do the job.