In times of universal deceit, telling
the truth is a revolutionary act.
         - George Orwell

Napoleon once observed that "history" is a set of lies agreed upon. In an era of ubiquitous fake news and information warfare, this has never been more true. The very concept of objective truth in history is fading out of our world. Pure propaganda and outright lies are passing into our history textbooks as unquestioned truth, condemning future generations to false views about historical reality. But the task of sifting through the lies and propaganda is overwhelming, limited by the ambition and time constraints of most observors. Only those who have dedicated their lives to sorting reality from falsehood are qualified to rewrite "consensus" history as a duty to humanity. The contributors to this site endeavor to do just that.

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Tuesday, June 27, 2017

Government Ponzi Schemes Set to Implode, All That's Needed is a Trigger Event

       When the Bank of International Settlements (BIS) in Switzerland warns about too much global debt and excessive risk to the global financial system, you know that all is not well with the global economy.
Several days ago, in an interview with Eric King of King World News, Harry Markopolos confirmed this dire state of affairs.  Markopolos was the Wall Street banker who exposed and took down Bernie Madoff's $65 billion ponzi scheme. Markopolos is now describing governments around the world as the new ponzi schemes, issuing promises to citizens regarding health care and social security that can never be kept.

In his view, the insurance industry will be ground zero for the next financial crisis.  As gatekeepers for the financial industry, they are ridden with fraud and false accounting. Then there is China, which is experiencing an unprecedented housing bubble.  Markopolos believes China's housing prices face an 80% decline in coming years, yet the country lacks the legal and financial infrastructure to handle the level of bankruptcies which will result.

Europe, he argues, is sick.  The banks never properly recapitalized after the 2008 crisis.  And with a shrinking population across the continent, its demographics are working against a long-term solution.  The overwhelming debt held by the banks there will inevitably lead to "a very nasty ending" to the ever-worsening banking crisis there.

Across the world, bond yields are shrinking such that investors don't want to park their money there.  Stock market prices are overly inflated. Gold and other assets are manipulated downward. There's nowhere left to put one's money to get the kind of returns necessary to meet promises to investors.  Pension crises are popping up all over.  There's going to be a crisis of confidence in the US dollar, which spreads to become a currency crisis worldwide.

When the mega-crisis hits, governments will have no choice but to cut health care and social security payments to citizens.  The crises will "happen all at once."  The ponzi schemes which are government finances around the world will implode just as Bernie Madoff's scheme imploded a decade ago.  We are headed for a Great Depression unlike anything seen since the 1930s.

Are you prepared?

Listen to the full interview between King and Markopolos here:

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