Transcript for scene 2 of the video " From Global Warming Delusion to Ice Age Climate Change Reality - Part 3 - Dynamics for War" by Rolf Witzsche - Ice Age Ahead not Global Warming  

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Write-down of any debt is no longer possible

Another admission that the monetarist system is hopelessly dead was issued by high-level European officials.

With the Greek national debt having risen to such gigantic proportions that no hope exists for it ever to be repaid, rational voices called for a "restructuring" of the Greek debt, which typically includes massive write-offs. The official answer was, no, no, no! This means that any write-down of any debt is no longer possible, because the derivatives gambling contracts that are riding on the debt instruments are many times larger than the debt itself.

The system is now in a deeply hopeless crisis, since the collapsing physical economy in the monetarist world, which presently produces only millionaires and billionaires and not much else, is no longer able to pay the mushrooming interest on the debt that resulted. Nearly every nation is now in this kind of situation, in spite of the evermore brutal austerity measures and tax increases that are being imposed on the population to bleed more blood out of them.

Thus, with the populations becoming increasingly 'choked to death', many a government is about to tumble in the near term, by which the masters of empire are increasingly loosing their grip onto the nations and the world, and are becoming evermore desperate.

 

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Published by Cygni Communications Ltd. North Vancouver, BC, Canada - (C) in public domain - producer Rolf A. F. Witzsche