Here's a story that many of you shared, though I am going to draw your attention to the Washington's Blog for this story (which was shared by Mr. S.D.):

Global Debt Is MORE THAN TWICE AS BIG As the Entire World Economy … What Does It Mean?

Now, the question is, indeed, what does this mean. The debt-to-GDP ratio of individual countries in the world has skyrocketed to historically unprecedented scales, and, as the article itself avers, the debt-to-GDP ratio stands at a place that has no precedent in human history; indeed, without any precedent, how to explain it? What does it mean? Will any conventional economic, or fiscal, analysis, really do it justice? Can it really be reasonably argued that this is confirmation of the "favorite" schools of thought, whether they be of von Hayek, von Mises, Rothbard, Keynes? THe article itself makes clear what it is for: a debt jubilee, a write of - a forgiveness -- of bad debts. But whose? the big banks? the small individual debtor?

But again, I cannot emphasize my own personal displeasure with these types of analyses, for they all have one thing in common: they're only looking at one half of the balance sheet, that is to say, they're only looking at the public system of finance, and indeed, if one only looks at that, one obtains a rather bleak picture. Thos debt-to-GDP ratios that inform so much recent financial analysis are only looking at the public GDP, at the public assets. But there is a hidden economy, and it's quite large. There are hidden technologies - hidden assets and hence hidden gross domestic product - that we can only guess at, not only in terms of the size of those things in relation to the rest of the economic pie, but at their capabilities.What happens to economic analysis if such a hidden system has grown so large it has literally swallowed the public system? What happens to financial and economic analysis if such a system, having swallowed or overwhelmed the public one in the sheer scale of its operations, is nevertheless completely ignored by financial and economic analysts who continue to focus only on the public one? Would their confident and easy Keynesian or Austrian school predictions and dogmas perhaps paint a very false picture of the world's finances?

The only individual whom I know to be even close to attempting the kind of financial analysis I am suggesting here is former Assistant Secretary of Housing and Urban Development during the GHW Bush administration, Catherine Austin Fitts. On her view, the public system is being gradually and deliberately unwound and the hidden one being brought more and more into light, in a kind of "slow burn" rather than "collapse" scenario. And she stresses, there is much more liquidity, and in the case of the US, much more sturdiness, in the system than other experts give credit. The key, of course, is future technology and advance.

To be sure, the lending and derivatives and sub-prime spree that the West was on prior to 2008 was financially insane, and that's putting it euphemistically. But that highlights the two interpretive choices we see before us: we are confronted either with a financial world that essentially "went crazy" and has decided to stay thereand continue its craziness because it has no other solutions, which is more or less the underlying common meme behind current conventional financial analysis, or there is something else, some other factor, at work, out of view for the moment, but whose telltale signs are slowly beginning to seep through the cracks. I don't doubt, nor dispute, the analyses of those who contend the current picture is crazy, and that something like a "jubilee" may be in order. But by the same token, I don't that that the public economy is the whole story, nor, really, in the final analysis, do I think we are looking at a picture that only includes the gross domestic product of planet Earth...

See you on the flip side...

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".


  1. kchuray on March 31, 2015 at 11:33 am

    Or as we say here in Chicago, “The fix is in.”

  2. kchuray on March 31, 2015 at 11:31 am

    I think you and Catherine Austin Fitts are absolutely right. That prompts me to another observation, though. Aside from unofficial leaks and whistleblowers (and who knows whether those are real or psyops), we ought to be extremely wary of any kind of information leaked from an official government source, or outright disclosed. It seems to me that they only disclose to the extent they’re sure of control over us galley slaves. The more disclosure, the more “control files” and control mechanisms in place. If they ever come right out and admit what they’re doing, God help us.

  3. Gaia Mars-hall on March 29, 2015 at 9:29 am

    The core issue, concerns the fallacy of the issuance of credit with out proper understanding and practice regarding the true nature of wealth, which is ultimately related to biology and physics.

    Black budgets, etc, while certainly true represent an epiphenomena of piracy that is generated on top of a feudal model.

    America went feudal when the marketing rights of agricultural production was captured by the Federal Government May 12 1933, to which by appeal to the Courts determined that Farmers were due 5th Amendment compensation for the forfeiture of such rights, which was properly put into practice in 1942 with the advent of a 90%-110% Parity window as regards agricultural production, thus the creation of wealth became properly monetized at a level at par with the purchasing power of the industrial and service sectors of the economy. What thus happened was that PROFIT for the producer, was generated on what is essentially important Food, and where such profit is the building block for the health of the rest of the economy.

    In 2014 we had to borrow $5 Trillion dollars to make up what was not properly earned on the national level by proper monetizing of Agriculture or to put it another way, because we underpayed the producers of essential wealth, the economy on a national level was left
    with a $5 Trillion dollar loss, to which credit expansion then opens us up to further gouging by the banks. The National Organization for Raw Materials is the repository of information on the multiplier effect discovered by Carl H. Wilken concerning agricultural income (1) to national income (7). Underpay agriculture and you underpay the whole economy.

    This collapse has been going on since 1952 when Parity was totally dropped, through it still is on the books, as is the National Emergency and thus the solution to the problem.

  4. old97polarcat on March 28, 2015 at 4:20 pm

    What does this hidden economy consist of? What does it sell and what does it buy? Does it ship products? I don;t mean to be flip here, I just want to point out that if you state that the black-world economy dwarfs the public economy, it would be useful to cite some statistics or even speculate on the very basic commodities that the black-world economy trafficks? Also, by what mechanism would the black-world economy prop up the public economy. Again, I’m not saying it isn’t possible, but some mechanism needs to be proposed.

    • moxie on March 28, 2015 at 8:51 pm

      “..there is much more liquidity, and in the case of the US, much more sturdiness, in the system than other experts give credit. The key, of course, is future technology and advance(ment).
      The hidden economy is like a parasite inside the public economy(host). Also feeds on legal/illegal revenues. So I guess when doing the global economy’s “balances sheet accounts”, the US economy would considerably be (though unseemingly) more “sturdy” than what is estimated when you factor in assets from the black world, hence an invisible prop up.

  5. Avenkat on March 26, 2015 at 5:46 pm

    I do think the new technology that is creeping up to the surface will change the entire earth radically. It needs to come soon, though. At this point in the mortgage meltdown, the banksters do not know who owns what loans. The loans/notes have been sold multiple times, as many as 47 times. The so called securitization trusts are empty and nothing was ever put into them. The government regulators did not regulate and are captive. Taking down the banksters and cleaning up housing will go a long way to cleaning up the mess. Massive number of class action suits are in the works, and the insurance companies who took it on the chin by insuring the mortgage notes against default are awakening and will be suing this year. I think a jubilee of all debts in the US will have to be done. We shall see.

  6. Blue Dragon Lord on March 26, 2015 at 12:54 pm

    Well country debts and the spiraling debt cycle has never been fixed since 2008 and no matter how much funds is thrown into the bottomless pit it will never be fixed. The people who caused the problem are still creaming it or all it is worth you hear we could be heading for another down turn ‘hello’ we are still in the 2008 ripples on the pond we never got out of it. Now there is a way but as none of the old style methods works as they only made it worst can we now try the new program. So poor countries like Greece, Spain, Portugal, Italy, Ireland and USA who this has hurt so badly can finally get off their collective knees and let us fix the problem now people are fed up with the spin as it just makes them dizzy and sick it does have a solution.

    I know it does simple, do the program stand out of the way if you are the elite bloodline shadow government stand aside your time is done you have brought yourselves down and still wondering how it happened as it was not in your plan. Your control plan was flawed but your ego could never admit to the failure so blind to the reason which was in front of you all the time amusing really. You had the olive branch held out and offered to you to save face and for once do the right thing but instead what did they do.

    The other factor which was mentioned above another force at work is true the others behind the scenes have given those to blame the second chance on the second chance but that is enough there comes a time when one must say stop we can longer stand by and watch what your action have caused time or us to act now so pay heed it is foolish to continue and all they had is seeping away right now and or once they are the guys who are frustrated the world problems shall be fixed at their expense a sense of justice there. They should not have made the deal the devil by his very nature has deceived them and cannot come to help them never could.

    Sorry for being so criptic but those who know what this means (Elites) know that those who are good to their word do keep it, as that is in their nature and as it was written so shall it be, if you do not fix it we shall with or without you and should that mean your thousand year plan fails the lease was up anyway. So says we all.

  7. DanaThomas on March 26, 2015 at 12:27 pm

    Off topic. It’s now “official”, there is apparently a Russian statement to the effect that the German plane went down because of a US high altitude laser (HELLADS) test gone wrong:

  8. nines on March 26, 2015 at 11:35 am

  9. Aridzonan_13 on March 26, 2015 at 9:33 am

    It’s an serious indication we’ve been farmed. Walter

    Burien’s chronicling of the CAFR MIA funds should be front page news everywhere. There was a scandal about CAFR funds in the town of Cave Creek, where I live about 20 years ago. It was about the same time Catherine Fitts had pointed me at Walter Burien’s work. My barber had been on the Cave Creek City Council and related the story of how a local attorney had discovered and demanded to see the 2nd set of CAFR books. He was denied access and the scandal erupted. It took an AZ State Rep to show up and sweep everything under the rug.

    The fact that there is not rioting in the streets over these huge MIA sums. Tells me entrainment / mind control is working above and beyond expecations.

  10. marcos toledo on March 26, 2015 at 8:57 am

    It’s enslave everything in the World we are the masters. Anybody who doesn’t enjoy torturing and murdering other living things is only good for slavery and being work to death to further enrich these already wealth bloated parasites. There is no cure for these addicts greed is their only reason for existing.

  11. Robert Barricklow on March 26, 2015 at 8:33 am

    A “purposed” method to madness.
    Those at the tip of the power spear are performing an alchemical on the spear itself; transforming the nature of Public/Private. The end goal is a private dictatorship being cloaked under the guise of some form of public. We have that now. But, it has become “too in your face” in most of it’s manifestations.
    The untold trillions upon trillions have goon to privately “own” it all: the land, the sea, the sky, the technologies, infrastructures, – the very nails, to put in the “public’s” coffin. The will Own it all; including YOU. The public is currently undergoing “last rights”.

  12. basta on March 26, 2015 at 8:16 am


    It means that everything is going according to plan.

    Seriously though, I don’t think that financial policy (if there even is such a thing) exists on some Wizard-of-Oz level beyond this mundane reality, nor do I think there is any rationality anywhere in the markets. It’s an endgame being played out right now, grabbing the chips before the table is tipped over by the penny-slots players and the casino set on fire.

    If anything it is the looming prospect of financial Armageddon that will drive — or better, force — the release of sequestered technology, because that technology will be so disruptive that the financial sector will go into the dustbin along with the energy and defense sectors, and most likely health, too.

    TPTB don’t want to commit financial suicide, but their greed has undone them. As they say, Karma’s a *****.

    • Blue Dragon Lord on March 26, 2015 at 1:10 pm

      There was a biblical story i read once it must be allegorical as sorry i do not believe in Jesus but anyway the turning over the tables outside the temple of the money changers comes to mind. Sometimes the righteous must step in and say this is wrong and must be stopped this surely is one of those times. Sorry no offense meant to those who do believe that is your right, but as i am actually on a daily speaking terms with the creator he will understand.

    • moxie on March 26, 2015 at 2:15 pm

      “It means that everything is going according to plan.”-That’s what I think too. One would have to be profoundly naive not to wonder about those serial credit offers in the mail..
      And about those decades long economic predictions not happening yet, well of course they’re in control of it. It will happen in their timeline, and in their terms. Renaissance have requisites.

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