The Panic of 2008 is a deliberate banking consolidation

[Originally posted on iTulip.com]

May I suggest it [the current banking crisis] is both a runaway disaster, and an orchestrated consolidation.

I imagine that after that famous asteroid hit the Yucatan peninsula 65 million years ago and wiped out the dinosaurs (if that's what happened) that shortly thereafter, the fastest, most ferocious raptors were feasting on the carcasses of their weakened comrades.

Presently, I figure that the debt-based money system of the Rothschilds, Rockefellers and Morgans, which lives on in the financial institutions of JPMorgan Chase, Goldman Sachs, the New York Fed and the U.S.Treasury, inter alia, has achieved its final, greatest, climax.

The asteroid of such excessive leverage that an even greater bubble can no longer be constructed has hit planet earth. The king raptor, JPMorgan, is feasting. Raptor steak is momentarily the coin of the realm.

The main event is a runaway disaster. Credit based money tends to do that. However in this case, Western Civilization had a few centuries of magnificant glory, and terrible wars, in the process.

But the king carnivores are doing their best to herd the weaker animals into killing pens during the chaos.

I do not expect the fall from such heights to be as disastrous as befell the dinosaurs. But looking back on the present from a century in the future, it might look like the decline of the British or earlier Spanish empires. I am optimistic that civilization has well enough integrated into the fabric of everyday human life all over this planet that the fall will not be anything as serious as the Fall of the Roman Empire, relative to the size of the known world.