The Attack of the Real Black Helicopter Gang: The IMF Is Coming for Your Social Security | WHAT REALLY HAPPENED


The Attack of the Real Black Helicopter Gang: The IMF Is Coming for Your Social Security

Last week, the IMF told the United States that it needs to start getting its budget deficit down. It put cutting Social Security at the top of the steps that the country should take to achieve deficit reduction. This one is more than a bit outrageous for two reasons.

First, the IMF deserves a substantial share of the blame for the economic crisis that gave us big deficits in the first place. The IMF is supposed to oversee the operations of the international financial system. According to standard economic theory, capital is supposed to flow from rich countries like the United States to poor countries to finance their development. In other words, the United States should be having a trade surplus, which would correspond to the money that we are investing in poor countries to finance their development.

However, the IMF messed up its management of financial crises so badly in the last 15 years that poor countries decided that they had to accumulate huge amounts of currency reserves in order to avoid ever being forced to deal with the IMF. This meant that capital was flowing in huge amounts in the wrong direction. One result of this reverse flow was that the United States ran a huge trade deficit instead of a trade surplus.

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The problem is that the reserve system of banking, in which all public currency is issued by private banks at interest, results in a permanent state of there being more debt than there is money to pay it. As long as new generations of borrowers can be found to allow new money to be printed up to pay the interest on the old money the system, continues to operate, even though the debt continues to outstrip the money supply. This makes the entire reserve system a pyramid scheme.

But when the population stops growing, or worse, shrinks (as the baby boomers start to retire and die off), the pyramid collapses. The interest debt owed to the reserve system is still there but there is no new money being generated to pay it and the whole system comes crashing down. That is what is occurring now, and this looting of the people by banks, government, and the IMF is the grabbing of chairs in anticipation of the music stopping.

This type of disaster has happened many times before, including the collapse of Rome, which is why so many cultures and even the early Catholic church forbade usery. The Knights Templar got around the prohibition by charging "rent" for the use of their money, but in actuality this was the secret of the Templar wealth; they were allowed to charge interest for loans in a world where nobody else dared do so.

When the United States was founded, one of the revolutionary ideas the founding fathers had was that the government should issue the public currency interest free. And it worked to make the young America a prosperous land. But in 1913, a corrupted Congress and a deceived President sold this land back into the clutches of private bankers and the ruin they foisted on the people is plain to see.

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