President Thomas Jefferson is often considered to be the smartest President in U.S. history. What is most interesting is that Jefferson warned of the damage that would be caused if the people assigned control of the money supply to the banking sector,
"I believe that banking institutions are more dangerous to our liberties than standing armies… If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."
President Jefferson’s prediction has unfolded exactly as he said it would. Banks and Corporations have done what no enemy could accomplish: they have destroyed the American way of life.
Banks have:
• Crashed our economy with easy credit and lax lending standards
• Left many American’s homeless
• Caused 401Ks to evaporate
• Raided the public treasury of billions of dollars
Corporations have sold out America. Corporations have:
• Outsourced American jobs
• Used tax loopholes to avoid paying their fair share
• Used profit as their only measure of success
The above is part of an article copied from tacticaldefensellc blog by Jim Lubbad. Read it carefully and think Singapore and how it can be similarly affected if things continue the way it is. We are being sold the idea of everything expensive is good, especially housing. The people are all deep in mortgage debt, and smiling at the paper gains of their properties. When deflation hits, looking very imminent, they will all lose their properties and become homeless. The bigger the housing loan, the faster will their properties go. First comes high inflation and follows by high deflation, the perfect formula for taking away the homes they sold to the home owners.
But we are safe, at least for the early buyers of HDB flats when the loans are mostly paid up. The new buyers, beware. The millstone on your neck is heavy.
5 comments:
That is why the word 'retirement' is meaningless and out of reach for most people all over the more developed countries, but more seriously in little red dot. It will get worse, not better for the younger generation. I think in less developed countries like Myanmar or parts of China, retirement at 55 years is still part and parcel of life and a certainty to be enjoyed.
It is really ironic and a fallacy to think that when you live in a more advanced and developed country the better your life and future in old age will be. But not when you cannot retire. They never tell the younger ones that their whole life is about paying off monstrous housing loans, ridiculous car loans, obscene education loans and all that stuff.
Sure, some may be well enough to afford retirement at 62, but how many and who are they? What about the average elderly?
Everything and every cent in CPF is either locked up or eaten up by that brick and mortar pigeon hole. There is no other choice even if you do not want to be burdened by that millstone.
Thomas Jefferson was smart, however he is passe.
Modern Americans are smarter than him, they know how to make themselves filthy rich.
How their Nation fares is not their concerns.
patriot
@Anonymous, If Americans were smart enough, they would not be in this screwed state today. Americans are no longer rich except for the top 1%. Its getting a nightmarish, the figures can show.More are in poverty and unemployment basically has not changed.
The money powers prey upon the nation in times of peace, and conspire against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption will follow and the money power of the country will endeavor and prolong its reign by working upon the prejudices of the people, until the wealth is aggregated into a few hands and the republic is destroyed.
Abraham Lincoln.
It is not just him that is saying the same thing.
Hi Black Knight, Welcome to the blog.
Arab Spring is coming to America. They are is a very similar position, where the elite rob and loot everything in everyway they could. Any losses, pass the buck to the people. The American people are getting all the shit while the elite continue with their plunders.
The view is that all the wealth of the world, whatever country it may be, is being slowly transferred into the hands of a elite few.
Arab Spring is just the hard truth of what will happen eventually to the whole world.
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