The next and greatest Depression ever.

I suggest the OP starts re-taking the little white pills. To imply that bankers are in some huge conspiracy against the people is loopy.

Thanks for your concern but I am not implying, I'm stating that it is a fact; read the Rockefeller quote, that gives you some idea.

The following will happen. We'll have approx 18 months of massive financial readjustment, banking will be changed forever, with plenty of products/schemes binned. Anyone who has borrowed unwisely and overstretched themselves is going to have a very unpleasant time.

Unemployment will rise and the quality of living for most will dip.

By 2010 things will have sorted themselves out, banks will regain the confidence to lend to each other, investors will return to the markets and we'll begin a slow return to where we were.


You are entitled to your opinion but you don't give any references to back it up so I take it as just your view of things; mmmm, ok.

Lets not forget that unwise borrowing is a two way street - the banks should have made it more difficult for such people to get credit, but those people also had a personal responsibility to only take on debt that they could afford to repay.

Maybe you should have given this advice to all the banks that have recently folded because they don't have the reserves/resources to pay?

Can you not see that the men behind the scenes want us in debt so that they can aquire for peanuts all the companies that fold, all the houses repossessed etc when we can't pay and have to sell up to try to meet their demands?

Killa Ken was saying how well he's doing and I hope that he continues that way but he won't be as happy when the banks call in their debts/mortgages and take his two properties because he cant pay up.
 
I found that video quite compelling. I know next to nothing about how the banking system works, so I except that it may be a load of pish! Would be interesting if someone that does understand the system, dissected and discussed the points raised. I just can't believe it's all that simple.
I concur with all of this. I watched that video last night after seeing the link elsewhere and found it equally compelling and rather shocking in its implications. If those implications are grounded in fact, and it seems to me that they are at least plausible, then that changes an awful lot of my views. I'm still not going to pander to the conspiracy theorists but it certainly makes me wonder who really does pull the levers.

while the vid give some info on the current banking system, it did gloss of some points. and currently there is no banking system that does not have flaws. it may not be perfect but then what is
True - I have no doubt whatsoever that the video is an oversimplification, but that's not a bad thing provided that does not lead to drawing the wrong conclusions. While I'm sure it's not perfect, I've yet to see anyone debunk any significant part of that video or show it not to match reality. I encourage anyone who can to please do so.

Obviously it's all a conspiracy. Let's blame the bankers, not the people who lied about their income so they could afford a nice house and still get Sky. It's easy to blame the corporations, isn't it...

It's true that fractional reserve is perhaps a scary system but it depends on the fact that so few understand it, because it relies on human nature which is largely to save rather than spend! (They thought/hoped)
True, to a point. I'm sure a lot of people have overstretched themselves - from people on 125% mortgages to those who reportedly have £400,000 plus in loan/credit card debt - but if the system relies on ever-increasing debt, then the consequence of people taking less debt could well have just been this mess getting triggered sooner.
 
So what can we expect to see happen from all this?

As most of these problems seem to have originated in the US i suspect they might set up something like the EU with a new currency in the coming years.
 
Not that one again. People have been suggesting that for the last decade - ever since some congressional report put forward the idea. That particular idea was scorned and I don't see it being resurrected except in the minds of conspiracy theorists. Of course, who knows what'll happen a decade or two down the road.
 
Not that one again. People have been suggesting that for the last decade - ever since some congressional report put forward the idea. That particular idea was scorned and I don't see it being resurrected except in the minds of conspiracy theorists. Of course, who knows what'll happen a decade or two down the road.

Take a look at the Security and Prosperity Partnership of North America or the North American Union; some interesting stuff that is not at all conspiracy
theorists.
 
The NAU stuff was the congressional proposal I was talking about. That wasn't a conspiracy, but it has since been turned into one by those who persist in promoting ideas that have long since been dismissed 'out of hand'.

If they tried it, I wouldn't be surprised if civil war resulted. Sure, there's a lot of people that probably wouldn't care, but there's this thing called 'patriotism' which in the US is next only to religion (or maybe even the other way around) when it comes to American culture. The fact that you see US flags everywhere is one expression of this.
 
Ok, I know I'm opening myself up to all sorts of abuse from some people but I'd like to stimulate some serious debate on the subject so here goes anyway: (got your tinfoil hat on?)

Given recent economic events, I believe that we are headed for a serious depression that will make the 1929 crash and the following depression look like a Sunday school outing!

The recent Iceland fiasco showed what Fractional Reserve Banking can do ..... but not to worry eh? Our Chancellor will underwrite the shortfall ....... where does he get this money from? ...... the central banks, borrowed at interest; and who pays for this bailout of banks again? ..... we do!

I honestly believe that this crisis has been engineered by the central bankers, in the same way that the last one was, and that we, the ordinary people, will soon lose almost all our property and freedoms; there will remain the lucky few who have paid off their mortgage, who may be able to keep their homes but the rest of us will become poverty stricken. There's maybe a while before it's that bad but it IS coming.

Like most people nowadays, I obtain a lot of my information from the internet and much of what is out there refers to American problems but as we have seen, what has an effect there also transfers over here and around the world. I'm also aware that not everything one reads should be taken as total truth but much of the information avilable is factual and can be varified.

Soon, there will be no cash money, only your new ID card/driving license which will contain all your personal info including health, financial, family etc together with a tiny RFID chip that can track you and your habits. When it comes to paying tax, you won't get the option, it will be deducted from your credit ..... and if you get stroppy, they void your card so that you can't even buy food etc.

A few quotes:

David Rockefeller in 1991.

"We are grateful to the Washington Post, the New York Times, Time magazine and other great publications whose directors have attended our meetings and respected the promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the world is now more sophisticated and prepared to march towards a world-government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the National auto-determination practiced in past centuries."

Mayer Amschel Rothschild: (Banker)

"Give me control of a nation's money
and I care not who makes the laws."

JP Morgan (Banker)

"Capital must protect itself in every way... Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd."

Henry Ford (Industrialist)

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

Lord Acton (historian)

"The issue which has swept down the centuries
and which will have to be fought sooner or later
is the people versus the banks."

Josiah Stamp (Banker)

"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 deposits,
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 deposits."



Many more quotes around but I'm sure you get the idea.

Apart from flames, what do people think about this stuff?


I think you are bang on. I woke up many years ago. I recently watched "Zeitgeist" I and II and "America - Freedom to Facism" a year or so ago. Pretty compelling stuff that people find hard to deal with and so just label everyone as tinfoil hat wearers, rather than dispute the facts or produce any evidence to rebuttle the points... usually resorting to name calling.

It was after watching Zeitgeist that I had a flashback to 1997 and a conversation that I had with the head accountant of the company that I worked. He'd worked very high up at some of the biggest financial mangement companies in his time, including Meryl Lynch, and sat in on board meetings and the like.

I remember being sat in the car and him saying to me how the financial markets were controlled and that the boom and bust cycle was orchestrated deliberately. I didn't have a clue what he was talking about although in my defense he was pretty non-specific and when I asked who was controlling it, he woudln't tell me.

But getting back to the OP, yes the Federal Reserve (Incorporated) is not part of the Federal Government and is owned by a consortium of private banks. The US income tax law is unconstitutional. Fractional Reserve Banking is the biggest scam ever levied upon the peoples of this planet.

Texas Congressman Ron Paul (Rep) explains about the Federal Reserve and how it is Unconstitional and the effect that it has on the economy. I'm pretty sure if he was a "Tinfoil-hat-wearing-conspiracy-nutjob" ... he'd have been voted out of office a long time ago.

http://www.youtube.com/watch?v=ji_G0MqAqq8

http://www.youtube.com/watch?v=O6j3T5bcPxE

Its the reason why Ron Paul was not included in some of the debates and given nowhere near as much tv time as other candidates, because the Neo-cons dont want someone who is not hand selected to run for office, upset the apple cart and expose the corruption in the whitehouse/senate/congress.

The last independant president was JFK. He tried abolishing the Federal Reserve by his Excutive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve and started issuing silver certificates. 8 Months later he was assassinated.

Think about it, why the hell would the US government borrow money from a bank AT INTEREST when they could coin the money themselves and not have a $10 trillion national debt that can never be repaid under the current system, because its desigend so that there is more money owed than there is in existence. :rolleyes:
 
The financial crisis will end when america starts its next war, iran is being lined up for "regime change", ww2 took america out of the depression of the 30's, made america a superpower, vietnam, the so called gulf of tonkin incident, which lead to increased troop levels in vietnam, a war that dragged on for over 10 years with us troops with their hands tied behind their backs, with ludicrous rules of engagement, so that the conflict could be prolonged to feed the greed of the rich political backers who invested massive amounts of money in the defence companies.
 
Vanquisher making some dam good points there and I urge everyone to go do some research into this and find out how deep the rabbit hole actually runs.
Certainly opens your eyes.
"Money as debt" on youtube is a good start (five parts)
 
The financial crisis will end when america starts its next war, iran is being lined up for "regime change", ww2 took america out of the depression of the 30's, made america a superpower, vietnam, the so called gulf of tonkin incident, which lead to increased troop levels in vietnam, a war that dragged on for over 10 years with us troops with their hands tied behind their backs, with ludicrous rules of engagement, so that the conflict could be prolonged to feed the greed of the rich political backers who invested massive amounts of money in the defence companies.

Again, I think that Iraq and Afghanistan cannot be won the way that they are being fought but that is by design ....... keep the conflict going, it's far more profitable for the bankers, who, as the world wars showed are happy to finance both sides.
 
There doesn't need to be two quarters of negative growth for it to be considered a recession. There have been several "official" recessions where this has not happened.

Organisations like the NBER defines a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.".

http://www.nber.org/cycles.html
 
I was having a conversation about all this kind financial stuff tonight in a bar (yeah, I know) with a friend who works for a company that enforces the FSA rules; he's a compliance officer, ie makes sure all the so called independant advisers obey the FSA rules: we eventually got around to the USA and I casually mentioned that there was no law requiring income tax from your average Joe ..... he said, "what a load of ********!" ..... so I bet my car (£2000) against any £1000 of his that he couldn't produce a statute from the USA that states that any ordinary citizen is compelled to pay income tax; he declined; anyone else wanna bet? (genuine)

This is just to outline that many people shout down so called "conspiricy theories" because they sound outrageous but when it comes to the crunch ...... can't or won't back up their bravado with genuine assets ..... any takers?
 
Everyone keeps saying it's going to get worse, it's going to get worse...well when? We've been saying that for the past 6 months +. Are we in the recession now or not, coz I would say we are in one already.
 
I was having a conversation about all this kind financial stuff tonight in a bar (yeah, I know) with a friend who works for a company that enforces the FSA rules; he's a compliance officer, ie makes sure all the so called independant advisers obey the FSA rules: we eventually got around to the USA and I casually mentioned that there was no law requiring income tax from your average Joe ..... he said, "what a load of ********!" ..... so I bet my car (£2000) against any £1000 of his that he couldn't produce a statute from the USA that states that any ordinary citizen is compelled to pay income tax; he declined; anyone else wanna bet? (genuine)

This is just to outline that many people shout down so called "conspiricy theories" because they sound outrageous but when it comes to the crunch ...... can't or won't back up their bravado with genuine assets ..... any takers?
Sure. I present my evidence, so where's my car?
 

Did it mention that they've been predicting it constantly for the last 6 or 7 years and consistantly getting it wrong too?

If you keep predicting something that moves in cycles, you'll get it right eventually, it's doesn't make you suddenly insightful when you've been constantly crying wolf...
 
Sure. I present my evidence, so where's my car?

The car is yours when you cite the statute/law that requires the ordinary working man to pay income tax ...... gimme the law?
edit: I'll even come and give a BJ (eugh!) if you can find the law in question.

Can't be that hard surely (don't call me Shirley!!) .... loads of double entendre there .... but.....where is the law?
 
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