Chapter 5 - DEBT!

DEBT! This chapter is exceptionally important. Grasp this, and the future will be revealed.

This chapter, all on its own, should motivate us all to take action, build resilience, and find our tribe. I created and am now recreating the Crash Course because I truly (desperately) want to help as many people as I can become more resilient and prepared.

Once you understand debt, you understand how our entire system is on a truly, unequivocally unsustainable trajectory.

However, once you add in energy and other physical resource and pollution limits the conclusion that what we call “our way of life” is about to take a few body blows is unavoidable.

Please watch and then engage with your views and comments below. I am eager to hear how this line of thinking is either right or wrong.


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This is a companion discussion topic for the original entry at https://peakprosperity.com/chapter-5-debt/

Alternate Systems

Debt+interest is so entwined in our system I can’t wrap my mind around anything else. How would an alternate financial system work? Without interest, why would lenders lend?

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Some Possible Good News About Oil

Just this morning (June 10) I read that ExxonMobil is developing new technology to re-frack oil wells. One quote in that story was especially heartening, and I believe the person quoted was referring to the Permian Basin in West Texas. He said that there is still plenty of oil “down there”, and re-fracking can in some cases fully restore the original output of the well, and extend its useful life.
Of course, that depends on at least some degree of federal cooperation, which may not be forthcoming. And I’m aware that US refineries are not well equipped to deal with the light crude that emerges from fracked wells.

Free Money Tree

https://peakprosperity.com/wp-content/uploads/2023/06/03-Free-Money-1686413985.4426.jpg

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Excellent Episode!

Being familiar with the Crash Course (for many years) I haven’t been watching these episodes. For some reason I took a look at this one about debt and it was excellent! What really struck me was the point of “how would we even spend enough money to double the debt again? What could we possibly buy?” True, when you think of today’s prices. However, add a few zeros to the price of everything and it’s easy.

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Not everybody is convinced that this latest Exxon announcement is all it’s cracked up to be. Here’s an old oil field guy’s perspective:
https://www.oilystuffblog.com/forumstuff/forum-stuff/and-the-lies-they-just-keep-on-a-commin

research “Sharia lending.” Sharia Law banking does not use interest it uses negotiated set profit. Instead of thinking “amortization”, think installment loan + profit. If debts are paid early in interest based systems, profit is reduced/destroyed for the banks and the currency is destroyed. In an amortization + profit system, even if paid early, the profit remains and the currency is destroyed. It would probably be more inflationary (possibly?), but there are no overbearing credit cycles that become extractive of others’ wealth before they collapse.

The Plan

So, I am still ruminating over Dr. Day’s lecture. Watched JP’s recent parody on Target’s recent losses and posted this:
“This is all part of the Plan. We are being corralled into a smaller and smaller marketplace. If you own every brand, do you care if one of the brands is boycotted? To make an impact we have to boycott Intoxication, that would foil part of the Plan. The Plan includes pushing intoxication.
If you want an insiders take on the Plan, listen to the recollections of Dr. Day’s Lecture to a group of pediatricians in spring 1968, and take heart, the Plan is 30 decades behind schedule: https://drrichardday.wordpress.com/audio/ “
Target, Budlight are self-immolating. Why? Especially now when we are undergoing a retail and commercial rental space apocalypse? Is to further reduce our options? Accelerate disruptions? I remember when Chris was reporting there is an enemy out there, it’s too obvious, but who is it? In order to fight an enemy you have to identify the enemy.
On the mundane level, the enemy is obviously the Eugenicists, so how do we out them?
They have couched all of the tenets of Eugenics into euphemistic language that corrals and nudges people to adopt these tenets against their own vital interests. For instance in one little example they have done such a good job, that a good many people really believe farming has to be stopped to save the planet and/or that people have to die in order to save the planet. They have indoctrinated people generationally and throughout all socio-economic strata.
I came to the conclusion a long time ago that in order to defeat them, we would have to “unplug” from Corporate. That would mean no corporate food, no corporate entertainment, no corporate medical care, no corporate education, no corporate information feeds, no corporate travel, no corporate nothing – because the people pulling the strings at the very tippity-top own it all. (I often post on other sites to really hit them where it hurts and to foil part of their Plan #BoycottIntoxication.)
A substantial percentage of us would have to go all out Amish to defeat them.
Well, I’m not the only one who thinks like this. Just listened to a great interview of Mark C. Miller, a former guest here on PP, and who is a professor at NYU. One of the classes he used to teach was “Propaganda.” He’s not permitted to teach it anymore - after something like 20 years of teaching it. He is losing his slander lawsuit filed against colleagues. Mr. Miller also does the weekly tribute to the people who have died suddenly across the globe by way of Substack.
Mr. Miller also thinks there has been a plan in place by the Eugenicists and instead of coercively killing people, the Propaganda was so good, people lined up for it.
https://usawatchdog.com/cv19-a-propaganda-masterpiece-mark-crispin-miller/?unapproved=1881623&moderation-hash=8bc30e8cf6d5c65cbcad9c0346eea98e#comment-1881623

I can’t upvote this because I have experienced this student loan debacle personally. The student loans are set up like mortgages for paying back - it’s a lot of interest up front for years before you start to bite into the principal. They are practically designed to be impossible to pay back.

Hub

My last month paycheck was for 11000 dollars… All i did was simple online work from comfort at home for 3-4 hours/day that I got from this agency I discovered over the internet and they paid me for it 95 bucks every hour……> https://www.pay.salary49.com

Hi Chris,
Any thoughts on the Willow project that Biden just approved? 576 M barrels of oil over 30 years. About one day’s worth of oil per year, at current usage rate.

Confiscation Of Wealth

I’ll put this on the public channel so everyone can read it. Probably many of you have already, but just in case:
Gold and Economic Freedomby Alan Greenspan
It’s quite clear and succinct.

Interesting Linguistic Fact

Just read this today in the notes of my Bible:
“In the language of the Jews, the word for debt was the same as the word for sin.”
This was referring to a Gospel passage, not sure if they are speaking of Hebrew or Aramaic. But…it’s interesting!