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Rothschild Bank Stores:
When a few bankers control money store (can be based on oil, gold, silver...),
they can increase or hoard as they desires without any reason than to squeeze interest and fees...
for example... interest rates, credit/loans, print or hoard cash....
for 200+ years of long wars, WWs and needless sufferings... which gave them more "mystical powers" OVER the indebted Nations/Institutions /Corp...
An d we saw what happened when mabsters funded all sides of the conflicts... Very cruel games indeed!
Dit ch their fiat money, stop using cards, re-learn self-reliance, simplify your life, united!
Mr Denninger misunderstands 100% fractional reserve, which merely intends to separate deposit banking from investment banking. Banks create money when they are allowed to keep less than 100% of their depositors money, and this pyramids as banks borrow from each other. The credit thus created setting up a pyramid scheme.
The reason for the decline of the middle class is that self-reliance is disappearing, dissolved by the Ponzi scheme created by the issuance of more and more fiat credit in a misguided attempts to enforce equality, and outlawing the use of other forms of money, which necessarily values equity over labor.
The basis of America's poorer lower middle class relative to Europe is easily explained. USA more individualist & not war-devastated, hence as economy sinks, lower middle class has no govt. support so becomes a working poor.
In Europe (UK intermediate with USA) such conditions occurred in 19th century but welfare introduced en masse after WW2 when France & Italy ready to vote Communist, taking all Europe into Stalin's camp. This welfare was generous and raised the lower middle class into relative prosperity. Even today this welfare exists, albeit at lesser level - hence lower middle class better off in Europe.
Trailer-trashificati on is no surprise given the increasing wealth of the very wealthy - but this old term of abuse is now threatening to envelop the majority of US citizens. Living in Australia I shudder to think of living in a Minnesota trailer at -20C, but the investors in trailers have a captive market (if they don't freeze to death)!
Sim ilar things in Australia with a ridiculous chain of child-care facilities (ABC Learning) with banks lending to a very naïve entrepreneur - as if working mothers (& sole fathers!) are a source of profit! How long is such idiocy to continue? Invest in Ukraine war-bonds?
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John Brynjolfsson on technology, Europe and the currency wars
The Colder War Part 2, Auerback on Europe
Coppola on the mess in Europe, Kling on basic income