No meat on the bone

I bought a book on the currency crisis in Germany in the 1920s.   It certainly made grim reading particularly when one considers the similarities between our current monetary problems and the ones the book concerns its self with.
Today there are no "war reparations", but the imbalance in the "current account", with deficits (reparations to sovereign paymasters) paid for out of "current borrowings", without the hope of offsetting the debt through "foreign earnings" obtained by exports is a receipt for disaster. 


We, like Germany, are printing money on a mammoth scale to hide the imbalance and in effect devaluing our currency against all other currencies. This wouldn't be so bad if we produced any of the goods we consume but we buy "everything" on the foreign market and, as we devalue, this import bill goes up and up.
Germany maintained full employment and conceded to union driven wage increases which cushioned the price increases for a section of society. The UK has the "Welfare State" which artificially also deceives us as to the dire straits we are in.  For how long can we keep maintaining this welfare blanket without the tax base of full employment ?        
In Germany the stark contrast in the lives of the currency speculators (today's Goldman Sacks),or the ones able to invoice their way to move money into other currencies was the virus that infected the general population to choose extreme leaders such as Hitler and his Nationalistic solutions.


Our democratic notion of fair play, of equality, of everyone shouldering the load will break apart if the overt sight of Bankers bonuses, and Oligarchs vying with each other for ever larger yachts. Will another Fascist party conquer the hearts and minds of the people of Europe ?

Another major similarity is the growth of money.  Money used to be based on something !!  Gold. Assets, held within a country. GDP. Today it is based on nothing !!!  No one has any control on its growth since its growth is based on an artificial concept. Money is an entry in, if you will, an international journal that grows every-time a bank creates a loan. Every transaction, every mortgage that is granted adds to the money account entry and in a debt laden world this has passed from millions,to billions to many trillions, an amount that far out weighs the total assets of the whole world. Scary and growing !!!

Imagine, we now trade, useing super fast computers in nano seconds, on minute variances within the complex financial structures that cover the world. This is a trade with no sense or morality other than to make money for an exclusive few. It benefits society not a jot since even the profits are reinvested in nano seconds and exist only to bolster the banks outward sense of security in terms of their balance sheet. 
There is no meat on the bone !!!!!!!          
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