NEWS AND VIEWS FROM THE NEFARIUM AUGUST 8 2019
August 8, 2019 / /
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Potentially BIG BIG BIG news out of Canada today:
'It's crazy': Chase Bank forgiving all debt owed by its Canadian credit card customers
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There is a fly in the ointment – that debt forgiveness may be a “tax windfall” for businesses because they have offset the debt amount as a liability. Who might say this ? Governments. And who mostly controls governments? The banks.
Anyway let’s see what emerges in the usurious “consumer lending” market…
Great word that describes their market control…
usury, legal theft.
I can identify; as I write I don’t know if this will go out.
Of course, my situation is mini mickey mouse compared to the googles, youtubes, and other monopoly platforms calling the shots, having everyone[the good, the bad, the ugly] conform to it; or, they will not be seen and/or heard.
Good news! Your magic took and the vid chats a go?
Debt collectors are shaking in their shyster-shined boots;
could this catch on like fire?
I hate to say but this Yankee chase doodle dandy storyline is a bunch of macaroni.
Trial Debt jubilee balloons beginning to be floated?
Now Michael Hudson wanted to publish his Christ debt jubilee book; but couldn’t get a publisher. This past year he finally got it to press. That told me that the times were-a-changing. This confirms my suspicion.
This has legs.
I hope they’re not going cashless.
Local currencies need to spring up globally if that’s the case. Of course, they’d say only the Global Kings’ gold is good to go.
Not all of the world’s banks would be in on this game; only the crooked ones. Of course, that is most of them, isn’t it?
Chase Bank w/the modernized swastika logo.
The Yankee story I was referring to, is the official one, where the banks are the good guys and everybody wins….
What a sure bet that is.
Heard on a vlog yesterday
Circle of white light radio w/Alan James & guests: Randy & Thomas
I don’t know these folk from Adam. The ideas put forward have legs though. At about an hour in Randy goes into detail predicting that Bitcoin will make a noble run at replacing all existing currencies but cannot scale to sufficient size. When it fails, Libra and Facebook step in and replace everything including China’s social score keeping. It’s a plan. Almost surprised it’s not one of the points on the Georgia Guidestones. He’s not optimistic given the details and history of fb.
Can’t scale up.
What does CHASE know about the true state of Canada’s economy that warrants such drastic reduction in exposure ?
Could it be a quid pro quo with the Canadian Government : CHASE is made a deal it could not reject . Canada Does not prosecute Chase (for whatever) in exchange for exiting the Country and debt forgiveness for Canadians.
It could also be Both of the above.
When’s Canada’s next election?
October this year.
That explains a whole lot.
Well, has Scrooge finally gotten a visit from the three Ghosts? (Don’t think so…)
In the Smallest Picture, this may just be a cold-hearted rationalization of ‘what is’. Sum-up all of the cost-overhead of the Chase debt-collection apparatus (including personnel and buildings) and contrast that with the likely ‘income’ from non-performing accounts (squeezing blood out of a stone). Remember that these Cards were cancelled over a year ago. If the result is negative, take a haircut and leave. (Put the best PR face on it that you can come-up-with.)
In the Larger Picture that Joseph brought up, numerous authors/researchers have noted that the debt-overload around the world is threatening to bring-down the whole system. (Or get the peasants out with pitchforks and torches.) Prof. Michael Hudson has given very good, practical reasons for Jubilees, including saving civilizations. This is a well-documented ‘feature’ of debt: the destruction of the host country.
In the ancient days, there was probably only one option: do the Jubilee or not. In today’s world, there are probably supercomputers (AI?) madly at work on how to minimize the ‘shaving of debt’ needed to keep shearing the sheeple while keeping the sheeple just-content-enough to not storm the battlements. Kind of an evil Optimization Program. (This has to be done globally…)
The baddies will have to disguise this ‘shaving of debt’ to keep the people from demanding a full Jubilee. So, look for every possible excuse to surface when the ‘shaving of debt’ begins. Some will be laughable. Plus, the baddies will be doing ‘beta testing’, as Joseph noted. It will all be down to maximizing the ‘rent’ while not bringing-down the whole edifice.
And then, there was the statement from the farthest corners of the alt-internet that “If you do not Disclose by _this date_, we will do it for you.” Possibly the Biggest Picture…
Less optimistically: not likely the banking class is worried about their battlements vs pitchforks. They’re probably profiting nicely off the chaos in Paris, HK and where-ever. This is probably more targeted at keeping the host alive a bit longer and a bit more profitably than would be the case if the vise were kept tighter. To those in debt, this sounds like a big write down. The debtors will find soon enough it’s a drop in each of their buckets compared to what they need now and will need later. It’s an even smaller drop in Chase’s bucket. And with the tax incentives for the write down, it’s probably even profitable. At least more profitable than otherwise. I’m of the Bard perspective. I see the lights and do not imagine the Dwarf King is back under the mountain with good times coming down that river. At least not yet.
Yeah, it could be a hollow victory for the debtor if its a large amount, say $10,000, because it is considered income, and if his yearly wages are 20-30,00, it could be big hit…. unless he is insolvent at the time. db
Has anyone ever been paid to deposit money in a bank account? Few years back a number of these big banks (and a couple recently) had offers to deposit $400 in your account if you deposited 10,000 and kept it there 6 months. And they paid interest as well. If memory serves I read articles decades ago about banks doing similar just before the crash and depression in the 30’s as they scrambled for capital. Is this another version of that?
that’s the question that investors need to drive home at the next meeting or sooner. What’s the justification for this huge shift in tactical directions?
Nefarium is working on this end, thus far.
IT is NOT all the work of Google’s and Youtube’s and other suspect social media platforms, although they probably wished it was as they’d be able to secure their profit margins in short order without needing a crash course on peta-flopping Mandarin. It’s unfortunate but they are partly involved by choice and partly, unwittingly. Now, how does one back that statement up. . . . Well, . . One can’t. . . And wouldn’t on an open forum. . . Besides one would need monitoring equipment to start to record statistics and other important intelligence to relate such peculiar traffic in real time. One is certain that Symantec can trace peculiar traffic patterns. However, as one is not an IT insider for some years now, there still are suspect clues and ques of suspect activity that not only feeds the speculation of conspiracies but also has merit for just having some familiar old-time bytes and bits of that Boolean Boogie but with a Mandarin beat and frequency to the electron flow. Enter the high mobility of this connectivity and traffic lanes and one has a difficult time keeping pace without serious resources. One must understand that such things were not always known to be of Orient orientation. Probably more than a dragon belching with intended serious connectivity influence in the works.
One has been pondering the notion of acquiring that “Little White Box” that one’s internet service has offered to better monitor the networks. Ohhh my, to feel so important, eh? . . . Well, . . . To give credit where credit is deserved, I suppose, I have been asking about network architecture improvements and relating suspect behaviour to those customer service folks who bother to listen to this customer on the receiving end of some network annoyances over the years.
One question goes begging, “How does one manage quantum broadband without frequencies getting tangled into a knot of confusion?” Heck, there’s probably not even a good definition or lexicon to be had no matter which one of the thousands of languages that exist is chosen. Mandarin included.
Hugely profitable strategy and tactic for Chase – who can figure an accurate worth for that goodwill. It sounds like a huge write down, right? Doubt it’s a blip compared to say their expenses incurred for the last royal wedding.
Could this be an admission that credit-debit cards are and have always been a money scam? Have the banks come to their senses and waken up here hoping but don’t bet the farm yet.
I hear and see you. Thanks.