The End of Growth - Banksters vs. Capitalism
Excerpt:
It was always inevitable, on a finite planet, that there would be a limit to economic growth. Industrialisation has enabled us to rush headlong toward that limit over the past two centuries. Production has become ever more efficient, markets have become ever more global, and finally the paradigm of perpetual growth has reached the point of diminishing returns.
Indeed, that point was actually reached by about 1970. Since then capital has not so much sought growth through increased production, but rather by extracting greater returns from relatively flat production levels. Hence globalisation, which moved production to low-waged areas, providing greater profit margins. Hence privatisation, which transfers revenue streams to investors that formerly went to national treasuries. Hence derivative and currency markets, which create the electronic illusion of economic growth, without actually producing anything in the real world .
For almost forty years, the capitalist system was kept going by these various mechanisms, none of which were productive in any real sense. And then in September 2008 this house of cards collapsed, all of a sudden, bringing the global financial system to its knees.
If one studies the collapse of civilisations, one learns that failure-to-adapt is fatal. Is our civilisation falling into that trap? We had two centuries of real growth, where the growth-dynamic of capitalism was in harmony with the reality of industrial growth. Then we had four decades of artificial growth - capitalism being sustained by a house of cards. And now, after the house of cards has collapsed, every effort is apparently being made to bring about 'a recovery' - of growth! It is very easy to get the impression that our civilisation is in the process of collapse, based on the failure-to-adapt principle.
Such an impression would be partly right and partly wrong. In order to understand the real situation we need to make a clear distinction between the capitalist elite and capitalism itself. Capitalism is an economic system driven by growth; the capitalist elite are the folks who have managed to gain control of the Western world while capitalism has operated over the past two centuries. The capitalist system is past its sell-by date, the bankster elite are well aware of that fact - and they are adapting.
Capitalism is a vehicle that helped bring the banksters to absolute power, but they have no more loyalty to that system than they have to place, or to anything or anyone. As mentioned earlier, they think on a global scale, with nations and populations as pawns. They define what money is and they issue it, just like the banker in a game of Monopoly. They can also make up a new game with a new kind of money. They have long outgrown any need to rely on any particular economic system in order to maintain their power. Capitalism was handy in an era of rapid growth. For an era of non-growth, a different game is being prepared.
Thus, capitalism was not allowed to die a natural death. Instead it was brought down by a controlled demolition. First it was put on a life-support system, as mentioned above, with globalisation, privatisation, currency markets, etc. Then it was injected with a euthanasia death-drug, in the form of real-estate bubbles and toxic derivatives. Finally, the Bank of International Settlements in Basel - the central bank of central banks - pulled the plug on the life-support system: they declared the 'mark-to-market rule', which made all the risk-holding banks instantly insolvent, although it took a while for this to become apparent. Every step in this process was carefully planned and managed by the central-banking clique.
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