‘Global debt crisis has created an illusion of wealth’

September 17, 2015

 


Graham Bridger

DEBT ADDICTION: Retired financial accountant Graham Bridger, who has alikened the world economy’s addiction to debt to a drug addict who is being pumped full of heroin to keep it alive.

 

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FIAT MONEY: This is what money was called when much of the world’s money became paper based. Is printing money actually increasing global debt with the banks and governments making us think it gives a false sense of security, of being more wealthy?

 

 

 

 

WORLD debt has reached unsustainable levels and has reached an imminent tipping point, says a retired financial accountant.

Dale Bearfoot was interviewing Graham Bridger of Illusion 2 Reality on the satellite channel Revelation TV and posed this question: “Do you remember the financial crash of September 2008, and if not, why not?”. He described as the “biggest financial earthquake in the earth’s history”.

He has been researching about the global financial system since the last major crash in September 2008, where he claims the world economy was within one hour of running out of money.

Mr Bridger said: “Had this happened, it would have changed the lives of millions of people and it would have caused unimaginable losses. Since this happened seven years ago, the western media has done a reasonable job of saying everything is reasonably OK.”

The world has been living in a world of illusion and it has been “very cleverly hidden” from ordinary people and they have been “conned into thinking that there can be perpetual expansion and growth with finite resources”.

Mr Bridger said: “We’ve been deluded into thinking paper money is real wealth, when actually it is more and more debt. The word for this is Fiat and the Latin for fiat means ‘let it be’ and 1971 is when the whole world’s money became paper based.

“The only basis on which you can trust that – although people don’t understand it – is that it is backed by government. In 1971, it came off the back of the Gold Standard, and whereas it had a backing of real assets, in reality it had none.”

Gillian Tett, the assistant editor of The Financial Times, says in a You Tube clip: “Most societies have an elite and these elites try to stay in power. The way they stay in power is not just to control the means of production, to be Marxist (ie controlling the money) but by controlling the collioative map, the way we think and what matters is not so much what is said in public but is what is undebated and unsaid.”

Gordon Brown, the former Prime Minister, was allegedly asked by the Queen in one of their regular meetings in 2008 after the last economic crash, ‘Why didn’t you see this coming?’, to which she wasn’t given a straight answer.

Mr Bridger says the public has been misled into thinking that the deficit (the difference between imports and exports) is the national debt and is being reduced, when in fact the credit card is being maxed out and national debt in the UK has actually doubled in the past eight years.

He said: “What we have experienced is a principally western monetary system being like an edifice that has been irreparably damaged. Much as the world’s press and western press is trying to put out the belief that it is all coming good, it is irreparably damaged.

“It is no different to somebody who has been on heroin all their lives and they are dying. The way you keep that body alive is to pump more heroin into it and that is what they are doing.

“The world debt is increasing dramatically. If we’ve gone from £800B in 2008 to £1.5 trillion, I mean that’s where we are at. The American debt has doubled as well – that has gone from $9USD trillion to $18USD trillion.

“The total debt in the US is supposed to be around $200Utrillion and we are dealing with numbers that people can’t remotely get their head around.

“We’ve got a gullible and financially uneducated public, so they are not in a position to judge what is being said. The politicians are the ultimate cause, they had the ultimate ability to call this.

“We have had a clear agenda for the last 40 or 50 years, you can call it neo-liberalism. This agenda has got a specific way of bringing the wealth to the wealthy and moving it from the masses and they have also got a strategy that involves moral decline.

“We know it is media-controlled and we know it is an economic decline. It is not a decline that anyone can do anything about. It is not possible to repay the debt, simple as that. You cannot have this much debt, that is no way it can be dealt with. If you taxed everybody in the country at a 100%, it wouldn’t even make a dent in it.”

Mr Bridger claims that Greece is in no position to pay the millions of loans given by the European Central Bank, and their debtors have known this all along.

“We are being sold the idea that austerity will bring us around and it is totally impossible. In Greece the government is simply telling the European troika this can’t be paid back.

“Most of these people are unelected and most of them come from a major global investment bank. They are being told you’ve got to repay the billions that you owe. It is like me saying to you knowing you have no money, I’m sorry but I’ve got to have it back but you’re saying ‘I haven’t got it’.

“The big problem is that if they allow them to get away with it, the whole of Europe is in that situation – France, Spain, Portugal, all of those countries on the sidelines owing multi-millions. If they moved interest rates by half a per cent or even one per cent, they would double the amount of interest that has to be repaid and bankrupt all the western countries.”

On a more positive note, there are solutions to this crisis but we need to wake up and fast, there is more information here.

 

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