Andrew McKillop
21st Century Wire
Last week, The European Central Bank (ECB) announced they have no choice but to fire-up the money-printing presses again – to kick-start a new inflationary cycle.
ECB President Mario Draghi, aka Dark Helmet, swore that he and his Sandmen will to do anything to stop the price of everything from ‘staying too low’.
We’re told it’s out of altruism for the common herd that quantitative easing must happen, again. Who really are they concerned about – us, or their wonderful global casino?
Grunge story from the groping world of the Vampires
All you need to know is that when there is inflation, the banksters don’t want it. And when there is no inflation – or heaven forbid, deflation and declining prices – they also don’t want it.
Yes, the Masters of the Universe are mighty hard to please. Plenty of people say they are crackpots, and very dangerous ones at that.
Almost exactly 100 years ago, in 1913, the US Federal Reserve was founded as a private entity, but for decades before the writings of Norwegian-origin economist Thorsten Veblen and militant anti-banker action by American activists, including Thomas Jefferson himself, hammered the message that private central bankers were the final capstone layer on the Bloodsuckers’ Pyramid. Jefferson, Jackson and others were right, the money changer were then, and are still now – all pitiless. They not only ‘pump and dump’ the value of money, but also routinely start wars and ruin peoples’ lives. Jefferson, for example, wanted nothing to do with them, and was adamant that the ‘US should never have a private central bank’. But it got one.
Stack Jones from The Banking Swindle described the climate leading up to the creation of the US Federal Reserve circa 1891, where one British labor leader described the Rothschilds banking oligarchy as follows:
“This blood-sucking crew has been the cause of untold mischief and misery in Europe during the present century, and has piled up its prodigious wealth chiefly through fomenting wars between States which ought never to have quarreled. Whenever there is trouble in Europe, wherever rumours of war circulate and men’s minds are distraught with fear of change and calamity you may be sure that a hook-nosed Rothschild is at his games somewhere near the region of the disturbance.”
Flash forward to 2014. Why the central banksters should suddenly want inflation, because there isn’t any, is what Sherlock Holmes would call, “very intriguing”.
How interesting that the ultimate central bank – the IMF, sent along its winsome sorceress Christine Lagarde to the microphone on April 3rd, at exactly the same time that Europe’s arch-bankster Mario Draghi (image, left) was also on stage. Both of them said that, at least in Europe, ‘something needs to be done and fast – because we banksters are losing the fight against inflation. Inflation is too low. This is a crisis!’
She even coined a new term, calling it “low-flation”. She warned us that if they don’t act fast, then prices of all goods and services might even turn negative – and morph into deflation. Her April 3rd outburst reported by all news agencies, was timed to coincide with Dark Helmet Mario’s somber press conference at the European Central Bank, telling the world that low-flation is the real menace. Then Dark Helmet found himself on a roll and couldn’t restrain himself (it’s his passion for the Empire you see), insisting that his governing board, with only a few dissenters like German central bank chief Jens Weidmann, were all coming around to his call for emergency measures – where savings accounts, whether belonging to millionaires, or to common plebs and proletariat, should be given a dose of “negative interest rates’. In other words tax them – don’t remunerate them. Dark Helmet believes that those ‘do-nothing savers’ would soon get the message: Go out and spend it, or we’ll take it!
Reuters reported on April 3rd, how Draghi’s ECB is now committed to doing anything it can to stop low inflation from dragging on. The agencies added that the ECB is also now openly committed to printing money to buy assets, “something that previously was considered highly undesirable by some Eurozone central bankers”, again meaning German banking chief Weidmann. He already faces a storm of protest from German savers for interest rates on their savings accounts that are tailing away towards nothing – which, of course, is exactly what the ECB wants.
The Phantom Menace
During a break between skiing in the Alps and topping up her perma-tan in Cannes, Christine Lagarde found time to announce this profound statement: that Low Flation is a rising menace to the global economy, threatening “growth and jobs”. She told the world that although the global economy “has stabilised”, the recovery is “too weak for (her) comfort” and this new obstacle to growth is emerging, and that the dragon of Low Flation must be slain.
SHOW AND TELL: IMF Supreme Chancellor Lagarde holding up a leather hand bag, notice the similarity.
Neither her nor Draghi went into the details of exactly why, or how, “low flation” is a menace, but press hand-outs at their conferences, and ultra-boring internal reports from the IMF and ECB (compiled by their struggling PhDs trying move up the greasy pole), mix and mingle the low inflation theme with other “new threats” to the global economy which fall under the new heading Darth Vader Economics. Draghi claims that Europe is not only menaced by Low Flation – but also by “weather problems”, and by “holidays that fall at awkward times”. It’s good to know that we have our smartest people on the job.
All this is making it hard to predict how the Consumer Herds, or people who still have a job, will react to these bankster’s latest esoteric signals. Banksters are anxious to know how palpable the public excitement might be over whacking your savings account with a neat new tax. As yet, the banksters can’t accuse you of having unearned income – but it seems now that they will penalise you for not spending everything. Of course, you’d want to spend your money as soon as you get it, because in the banana republic world of inflation, it will be worth less tomorrow anyway.
Draghi told reporters that the risk of outright deflation ‘may remain limited’, and said Europe’s latest low-flation figures “are hard to read, partly because Easter holidays fall in April this year after coming in March last year”. As a result, insightful ECB studies show that Europeans simply didn’t travel enough, or pay higher travel and hotel prices, and they ate too few restaurant meals. Also, they had an extreme-mild winter, which unfortunately cut back on their energy spending, resulting in an unwanted ultra-low inflation stretch for the Eurozone in March.
Better luck next time.
Some signs of life from the rebel alliance? David Stockman, former Budget director of Ronald Reagan’s first administration, on April 4th, ripped into Lagarde, calling her pep-talk for the Banksters “70 words of pure Keynesian clap-trap”. Stockman also said “her new jabberwocky expression “low-flation’” is “positively ridiculous”, and her claim that it menaces growth and jobs – and even the global economy – is the worst type of mumbo jumbo”.
Stockman, like plenty others, might wheel out a few arguments of why the Keynesians got things so wrong (again), but the Banksters Ball will continue, and with a pumkin-coloured Christine Lagarde still playing Cinderella. Rant all you like, but the banksters will still reject anything and everything that Stockman says, because they have a Herd Fear even stronger than the clock striking midnight. Firstly, any talk about Peak Debt is strictly taboo – the equivalent of blasphemy in banker circles. Debt contraction is like garlic to them, totally repellant in fact. Debt reduction just simply can’t happen. It must be prevented – by all means.
To remind us all that central banksters are crackpots, Dark Helmet Draghi’s predecessor at the ECB was another intellectual giant named J.C. Trichet, who ran a seemingly endless campaign of reducing interest rates in Europe – “to reduce debt!”
If you can manage to see through all of their financial sorcery and ritual magic, what they are doing basically boils down to this: Banksters want more debt, but don’t ask them to ever admit it, because they simply won’t!
KEYNESIAN BDSM FINANCIAL FREAKSHOW: Debt is the central bankers’ favourite fetish.
Why They Want Debt and Inflation
Right now, the banksters have things the way they want them, out there on the economic battlefield. Plenty of consumers and companies are in debt up to their eye balls and way over their heads. Nice. For the ‘still-employed’s’, they will quickly recognise that the Eurozone has around 27 million jobless, making it the fifth-biggest “nation” in the 18-nation grouping – and so fewer and fewer contenders for ‘that promotion’, and non-unionites too, will dare asking for a pay rise.
See how this new horror tale pieces togther? The ECB, almost proudly, now wants to hit savings accounts and increase inflation to rack their fear quotient up another notch, which for Vampires is really great stuff.
Speaking in tongues, their Keynesian babbling called “economics”, actually imagines this kind of treatment will make the unwashed masses get out there and ‘make it happen’ by not only spending whatever they’ve got, but also by forcing them to borrow more. In fact, as the Banksters know in their stem cells, nobody out there in that thing called “the real economy” will be borrowing, so all the new chaff money the banksters print can (and will) go straight to their “friends” – their allies and partners in crime – the brokers, traders, shell game flippers and roulette wheel spinners of the 24/7 casino, called financial markets. Make no mistake – this is the real program here.
For banksters its only a detail, even if details count, that the vast amounts of chaff money used to keep the roulette wheels humming is multiplied umpteen times – just like their spiritual leader Keynes talked about – through debt and credit-based gambling in the 24/7 global casino. Check up on derivatives and credit swaps. This is all fine, for Keynesians, and expect them to quote what Keynes himself said about credit and debt. He basically said that if you can lever it high enough, mega-debt is the problem of lenders, not borrowers. The lender has to ease off with the big borrower who can’t repay their debt – because if not, they both lose. There it is, Darth Vader economics. Welcome to the Vampires Ball.
The Master Plan
For banksters, cranking inflation back up to a healthy clip helps an awful lot. Hmmm, 10% would be a nice, because then, the anti-inflation panic routine can be played out. This has exactly the same bottom line as that popular drama, Austerity for The Masses, but also real debt for the gambling fraternity which will gently disappear – and then a fresh round of new borrowed money for them at 0% real interest rates.
With inflation, real debts get reduced and real interest rates are low – or like the ECB says it wants, negative rates – which means even more credit and debt for the roulette wheel flipping fraternity. Think of the possibilities – the casino party can notch up to new frenzied heights.
But don’t forget the crony capitalist State. What is good for individuals and companies, starting with the private banks, is even better for the State, Keynes said…
When (not if) the State borrows money with no intention of repaying it (that’s the norm), the State will then use a small, symbolic part of the chaff money in headline-grabbing, make-work (jobsworth) programs for the Needy Masses. Keynes himself suggested to US president Roosevelt that he could ease America’s 1930s-era massive unemployment by placing dollar bills in bottles, burying them, and telling the Needy Masses to start up excavation companies and “get digging”. Of course it was only a cute joke! That Keynes guy was so cute.
The scary thing is that the world’s major central banks, not least of all the IMF, have inherited the mental defects of Keynes and his smug degeneracy. The banksters and national government apparatchiks have developed a hang-up about savings, for starters. For Keynes, savings are anti-social, whether it concerns millionaires and their savings or average Homer Simpson consumers who still hanging on to their jobs. Banking Degenerates routinely hide their dark agenda: the inflation has to be stoked – until it busts savings and terrorizes everybody into spending.
Forcing that along, the banksters will print money until way after the clock chimes midnight. If hyperinflation results and ushers in that 1930’s Darth Vader economic lookalike, the banksters will then join Adolph Hitler on their cozy chain of private Caribbean islands, each with their personal stash of gold.
You want to take a bet?
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