US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

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Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.
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If people thought the last Great Depression was the worst humanity has ever seen, readers had better wake up and open their eyes. Indeed, most of humanity has forgotten the worst depression on record 650 years ago when the Black Death, or Bubonic Plague was spreading like wildfire along with wars. In an eerily reminiscent circumstance, it seems humanity is headed toward this same path with the current worldwide depression and swine flu (h1n1) pandemic. A little known fact.

Excerpt


How Venice Rigged the First, And Worst,
Global Financial Collapse

by Paul Gallagher

Six hundred and fifty years ago came the climax of the worst financial collapse in history to date. The 1930’s Great Depression was a mild and brief episode, compared to the bank crash of the 1340’s, which decimated the human population.

The crash, which peaked in A.C.E. 1345 when the world’s biggest banks went under, “led” by the Bardi and Peruzzi companies of Florence, Italy, was more than a bank crash—it was a financial disintegration. Like the disaster which looms now, projected in Lyndon LaRouche’s “Ninth Economic Forecast” of July 1994, that one was a blowup of all major banks and markets in Europe, in which, chroniclers reported, “all credit vanished together,” most trade and exchange stopped, and a catastrophic drop of the world’s population by famine and disease loomed.

A “free trade” mythology has been developed by historians about these “sober, industrious, Christian bankers” of Italy in the Fourteenth century—“doing good” by their own private greed; developing trade and the beginnings of capitalist industry by seeking monopolies for their family banks; somehow existing in peace with other merchants; and expiating their greedy sins by donations to the Church. But, goes the myth, these sober bankers were led astray by kings (accursed governments!) who were spendthrift, warlike, and unreliable in paying debts which they had forced the helpless or momentarily foolish bankers to lend them.

Excerpt


The Real Story

Two recent books help to overturn this cover story, although perhaps that is beyond the intention of their authors. Edwin Hunt’s 1994 book The Medieval Supercompanies: A Study of the Peruzzi Company of Florence,* establishes that this great bank was losing money and effectively going bankrupt throughout the late 1330’s, as a result of its own destructive policies—in Europe’s agricultural credit and trade in particular—before it ever dealt with Edward III. “Indeed, the great banking companies were able to survive past 1340 only because news of their deteriorated position had not yet circulated.” Just as in 1995.

This triumph of “free trade” over the potential for national government, rigged the Fourteenth century’s global human catastrophes, the worst onslaught of death and depopulation in history. It was not until the Renaissance created the French nation-state under Louis XI, one hundred years later, and then England under Henry VII, and Spain under Ferdinand and Isabel, that the human population would begin to recover.

Population: The Fundamental Measure

The clearest measure of the destruction wrought by the merchants and bankers of Venice and its “allies” in the financial crash of the Fourteenth century, is shown in Figure 1. What had been 400-600 years of increasing population growth in Europe, China, and India (altogether, three-fourths of the human population), was reversed.

A Cancer on Production

In the Eleventh, Twelfth, and into the Thirteenth centuries the growth and development of population both in Europe and particularly in China, was accelerating. China’s population doubled in two hundred years during the Neo-Confucian Renaissance of the S’ung Dynasty, to 120 million; meanwhile, the population density of northern France and northern Italy began to approximate the levels these regions have today.

Read the rest of the article at The Schiller Insitute.

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This entry was posted on Friday, October 2nd, 2009 at 9:33 pm and is filed under Poverty. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Comments

  1. October 7, 2009 @ 5:15 pm


    This is some scary stuff! I don’t think people realize how bad it was before. We didn’t always have “rights” and independent states and governments. It used to be feudal system with slavery.

    Posted by Jacques
  2. October 8, 2009 @ 7:02 pm


    It still is a feudal system with slavery, we are all slaves to money with very little rights and all of our governments are corrupt. Nothing ever changes! This depression happened after a long population boom, so it’s no surprise to see it all happening again now. Get ready for the s*** to hit the fan, once this swine flu thing really gets going, and the US dollar collapses, then it’s going to be scary stuff!!

    Posted by TheFixer
  3. October 13, 2009 @ 11:47 pm


    1340′s was a ’8′, 1930′s a ’4′ and the one we are going into will be a ’11′!!???

    Posted by whitewash

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