Does it really matter which bankster puppet is elected today? In his latest update, Greg Mannarino discusses 4 major things the next US President cannot fix.
The first is the economy, which will continue to deteriorate regardless of today’s outcome. The 2nd is US debt which will continue to accelerate to the upside as The Fed increases QE to oblivion. The third is unemployment, which continues to deteriorate. The 4th is the continued decline in salaries in real terms.
The International Monetary Fund’s paper, “The Chicago Plan Revisited” by Jaromir Benes and Michael Kumhof highlighted a means to wipe out debt by legislation by using state created money to replace the private banking system and was commented on in The Telegraph by journalist Ambrose Evans-Prichard. In sum, the paper illuminates on a plan created in 1936 by professors Henry Simons and Irving Fisher during the aftermath of the US Depression. It examines how money created by credit cycles leads to a damaging creation of wealth.
Authors, Benes and Kumhof argue that credit-cycle trauma – caused by private money creation – has been around forever and lies at the root of debt catastrophes as far back as ancient Mesopotia and the Middle East. They claim that not only harvest cycles lead to defaults but rather the concentration of wealth in the hands of lenders would have augmented the outcome.