You could be the next peasant, and sooner than you think!

By | March 27, 2012
+L. Charles Burch is predicting hyperinflation in the US resulting in a global depression and financial meltdown, possibly sometime around November this year. The coming depression is something I've been expecting for several years now, though I'm not as convinced that all the stars will line up for an onset in November (I agree that it is coming soon, though not that soon).

While going through his comments I found three dots that I haven't connected before:

1. 'War on Islam' – Islamic doctrine calls for the abolishment of interest. That would topple the economy. That means keeping decentralized wealth. That makes more sense for the hatred certain leaders display than anything else. Oil just explains why Saudi Arabia doesn't get picked on, not why Islam is characterized as bad.

2. 'Internet Censorship' – If an alternate currency does arise to meet the needs of global trade, it's going to happen in the digital world. It's not just about free speech.

3. 'SWIFT, SEPA, and Bank AGB changes' – I'd been wondering about the secrecy shrouding the bank protocol changes coming into effect late last year and this year. In light of an authoritarian, centrally controlled bank system and government, they make a lot of sense.

I also recommend reading Charles' comments on his original post. They're very insightful, even if the conclusions are on the dramatic side of the prediction spectrum.

Reshared post from +L. Charles Burch

Wave of Banking Resignations Likely Foreshadows Financial Collapse | MN News Hound
Why are so many bankers, board members, and CEOs suddenly resigning from their posts? More specifically, why are they resigning now?

9 thoughts on “You could be the next peasant, and sooner than you think!

  1. Chris Harrington

    +Sophie Wrobel Actually, off hand that makes quite a lot of sense. I guess the question then is what the interaction of factors is that lead to the current disparity, otherwise it is easy to point to said disparity and say "see, the interest system is better." Colonialism and lack of natural resources (prior to oil) come to mind.

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  2. Sophie Wrobel

    +Paul Hosking The problem with religion today is that it is so mixed up with politics and the struggle for power. I find pure religious and geopolitical motives insufficient to explain the friendliness of western media to saudi arabia and UAE.

    There are likely other reasons behind it as well (the same applies for the other two points), but the suggestions could be a potential consequence.

    +Chris Harrington There is an islamic finance/banking system. Radically oversimplified, it's a 100% reserve system where profits are made based on a cut of the profits the borrower earns off the borrowed capital as opposed to fixed interest on the borrowed capital.

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  3. Chris Harrington

    Three very interesting points. I'm also expecting a financial meltdown, but my hunch is entirely unsubstantiated by anything more than a vague feeling gained from macro level social trends which I cannot really explain even to myself (another way of saying I spend a lot of time wearing tin foil hats……)
    Islam certainly encompasses many concepts to which I am partial, such as obligatory social contribution of a financial nature. I had forgotten about the prohibition of interest. As a thought experiment, I wonder what kind of alternative global economy would be possible without it?
    I have seen the Internet censorship trend as being a result of IP special interest groups playing on the good auspices of uninformed leaders who generally think something like "OK kids, the fun is over, time to let the adults run the Internet now", combined with the extreme right wing trend to increase centralized control and monitoring, in a kind of unholy marriage, if you will. Neal Stephenson, a popular author of speculative fiction, wrote about the creation of an Internet based alternative currency in the Cryptonomicon, and did a very good job at it IMHO, but this is likely the first I've heard censorship connected to the issue. A true tin-hatter would likely blame the troubles with bitcoin(?) on a government or corporate sponsored fifth column? 😉

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  4. Paul Hosking

    I find it really hard to swallow that Islam is "bad" because it would abolish interest. That conclusion blatantly ignores all aspects of religion and geopolitics over the past 40 years.

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  5. Sophie Wrobel

    +Dean Michael Berris thx for the explanation. My 'hunch' on economic depression actually originated based on stock and commodity market prices and charts alone, and is backed by 'strange background activity' going on in the financial sector in the last year (announced two years ago) and still taking place. The rest is a jigsaw puzzle open to anyone's interpretation – always with a grain of salt. I'd be curious as to your thoughts on the validity.

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