Saturday, March 24, 2012

They Are Resigning And The Ground Hog Digresses


Since September 1, 2011, there has been a wave of resignations in the banking community worldwide. I do not know if this is normal turnover, but most of these people were high ranking individuals in their respective institutions. There are similar high ranking resignations taking place in the insurance industry, health care and governments all around the world. In the banking industry alone, there have been 358 resignations in major institutions worldwide. A list of these along with the reference site can be found by clicking this link to American Kabuki.  I can't believe that this is normal. My gut tells me that something is up. People of this stature do not simply leave the gravy train unless they sense that the gravy is about gone.

Another individual named Gabriel has been tracking resignations of high ranking individuals in private industry, insurance, health care and government. Click on this link to read his insights. 

The question is, where did the gravy go? Is my little thimble of gravy safe? How can I safeguard it?

Since 2008 and the collapse of the real estate market and the derivatives debacle, banks throughout the world have been constantly on the edge of collapse. So far and since before it began, the answer has been to create more currency and bail out those banks in trouble. Can we continue to do this forever or are those in resignation mode aware that we cannot? Are they making provision now to prepare for the day the feces hit the oscillating wind device? If this is the case, should we be making similar provision?

The problem here is not us that use banks and banking products. The problem is the way in which banks make their money with compound interest and creation of previously non-existing and unbacked cash reserves. If you or I set up a business to do what modern banks do, we would be arrested for loan sharking among other things.

Perhaps there is a better answer for dealing with the fumbling of the international bankers; one which would take care of the problem for good and smash the useless banking cartels worldwide forever. We could do what they are trying to do in Egypt - Repudiate The Debt owed to these monsters. Why not? And after that, we can reform the banking system and make it impossible for these things to happen again. We might consider sending the people responsible for this mess to jail too. The image of Ben Bernake behind bars is somehow pleasing to me. So, rather than an actual revolution, why not a financial revolution that makes central banking, baseless currency and compound interest illegal? Make banks local and do not ever let them acquire international power again.

It has to start some time. Why not now?