CHINA AND JAPAN BEING DOWNGRADED TOO?

As many of you know I am a fan of The Daily Bell website for staying abreast of contemporary news, and even for its often provocative analysis. Well, here's one you may have missed on Faux news, Mindless Sh*t News Broacasting Company (that's MSNBC), See No News (CNN), or SeeBS (that's the one with the Eye of Horus/Ra as its logo).

Fitch May Downgrade China and Japan: Worldwide Depression Draws Closer

The article does indeed raise some questions, and you won't hear the politicians raising them (except maybe Ron Paul, but he's a "fringe candidate", right? Why indeed do we need ratings agencies, for example, if their failure during the derivatives build--up to the bubble-that-bust was so palpable? Why indeed do we need central banks at all? The article points out that the current system does not work, and other recent articles in The Daily Bell have indicated their peculiar bullion-is-money attitude.

The Bell is right, of course, millions if not billions of people are waking up to the fact that this system does not work. I am one of those, and probably most readers here are too. But this system - with all respect to the bullion advocates like Ron Paul - does not work, not because of the post World War One departure from the gold standard, but because of the departure from the idea of real money in the first place. Let us be clear, there are two kinds of money, real money, and debt notes that circulate as money, or what I like to call, the facsimile of money, which is the kind of crap loaned into circulation by the Federal Reserve. Money is issued into circulation by governments, monetized debt is loaned into circulation by banks. Under this system that we're in, debt can only accumulate, to the ultimate benefit of the few who control those central banks.

Perhaps the Bell is right, perhaps the internet revolution is making a big difference, and the world is entering an era where the lies of the elites who control those banks - and there are but a few family dynasties that do, comprised of some well-known names, and some not so well-known names - are coming unraveled. But like many of you, I don't expect them to go quietly into the night, but only to become increasingly desperate. THe lesson of history here is well worth remembering. When FDR's Keynesian policies failed, the last World War was the desperate result, and we are entering a period where the parallels between then and now are all too palpable.

But there is another parallel worth remembering too, and that is the parallel at the end of the Renaissance and the beginning of the modern era, when the old banking houses of Venice and Florence failed, in part due to the emergence of the internet of the day, the printing press, and the old elites, including the religious one, lost their monopolies on power. THe banksters were able to pull out of that one - barely - by relocating their shell game to Amsterdam and later to London. This time around, however, there's no place left for them to run... It will get messy folks, but they will, ultimately, lose. In the meantime, it is time to start rethinking the structures of society and economies in a deep philosophical way