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It Ain’t Over Til It’s Over – Is it over?
It was recently discovered in the Chinon Parchment from the Vatican Secret Archives that Pope Clement absolved the Knights Templar of heresies in 1308, six years before their leaders were burned at the stake by King Philip.
http://en.wikipedia.org/wiki/Chinon_Parchment
Could more bankers be burned at the stake today?
Maybe, as those who do not learn from history repeat it.
Bankers and borrowers including the US government, auto, business and homeowners, built a Babel Tower of debt that is crumbling down. Their response was to replaced failing debt with more borrowing from taxpayers, thus further weakening the economy despite artificial stimulus.
Now, on the strength of four weeks decline in new unemployment claims, the President plans to hold a Jobs Summit along with Carbon Caps and Healthcare. Whew.
Has anyone else noticed the emperor has no real money left?
Jack and Jill went up the hill to fetch a pail of water. Jack fell down, they came tumbling down, and broke their crown. Humpty Dumpty fell off the Wall, and all the kings’ men could not put Humpty Dumpty together again.
In other words, bankers and buyers built bubbles in bonds, commodities, equities, gold, oil and real estate. This required ever-larger foundations of debt with declining money multipliers and velocity.
We may find the past foundation of debt turning into so much crumbling sand.
25The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock. 26But everyone who hears these words of mine and does not put them into practice is like a foolish man who built his house on sand. 27The rain came down, the streams rose, and the winds blew and beat against that house, and it fell with a great crash.
Matthew 7:25-27 (New International Version)
