Bwahahahaha hahahaha
2011: The Year Cities Go Bust?
Strange Bedfellows: The right, which usually sees the government as the villain, now wants states to have the right to declare bankruptcy and default on their payments to bondholders. Of course their goal is not the losses to the bondholdrs (who will turn out to mostly be pension funds – the middle class), but to enable “restructuring contracts” and thus force government workers, police, firemen, etc. to accept vastly lower wages and benefits. But the big prize is letting/forcing states to privatize everything. Roads, water systems, parks… Look at it this way, if Grover Norquist is for it, it cannot be good for the great majority of us. (Source)
- Illinois Governor Wants to Borrow $15 Billion to “Balance” the Budget; Illinois Total Unfunded Liabilities Exceed $200 Billion Already
- Indiana Bill Would Allow Cities to Declare Bankruptcy; Gary, Lake Station, Georgetown Likely Candidates; Hands Tied in Rhode Island
- Pensions Eat 70% of Decatur, Illinois’ Budget; New York City’s $76 Billion Shortfall; Houston Mayor Wants Pension Benefit Cuts
- WSJ Reports New Jersey Pension Deficit at $54 Billion; Actual Deficit $174 Billion; Illinois, California, New Jersey Among Worst States
- Alabama Town Defaults on Pensions, Breaks State Law; Renewed Calls For San Diego Bankruptcy; “Prichard is the Future”
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It’s no mistake–it’s a planned takeover:
The plan is for the controllers of global money to further consolidate their power by instituting widespread debt slavery: “to bankrupt all countries and turn them into satellites by foreclosing on the bankrupt countries.” (Source)
Debt is not just a credit instrument, it is an instrument of political and economic control. (Source)
Follow the money: “Every area of the economy is still about taking wealth from the great mass of people and putting it into the hands of a few.” (Source)
Remember the old days when the landlord advanced the money and had first dibs on the harvest? And the harvest was never quiet enough to clear the debt. And so the farmer got poorer and poorer, until he had nothing. Substitute Citibank as the landlord and your own name as the tenant farmer/sharecropper. (Source)
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Curious how this works in practice? This video/media series explains:
http://www.swarmusa.com/vb4/content.php/299-Renaissance-2-0-Section-One
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Here’s how our global financial system is set up to extract a maximum amount of money from effective farming of the middle class:
- Farming the Middle Class–how to extract maximum dollars
- de Facto Decriminalization of Elite Financial Fraud
- Give ‘em easy credit, when they can’t pay it back, use their default to take WHATEVER you want–bwahahaha, hahahah
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Related Articles
- Let states go bankrupt (politico.com)
- GOP: Bankruptcy Is Good For States But Not Individual (middle-class-populist.com)
- Grover Norquist to States: Go Bankrupt, It’ll Feel Good (crooksandliars.com)
- Give ‘em easy credit, when they can’t pay it back, use their default to take WHATEVER you want – bwahahaha, hahahah (prof77.wordpress.com)
- …And, So It Begins: The Public-Sector Ponzi Scheme is Collapsing (redstate.com)
- Grover Norquist: GOP Must Be Willing To Force Government Shutdown In Battle Against Federal Spending (huffingtonpost.com)
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[...] Bankruptcy for Cities and States–a tool to legally grab the public’s assets [...]