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This story is evidently floated to hide the real weakness in the system, the systemic volatility that becomes ever more difficult to hide. Thus, a tiny bit is admitted in order to keep the focus off the big stuff, the derivatives exposures. In this manner, 'investors' are becoming desensitized towards sizable losses that normally cause panic. Thus, when the tremors hit, investors have been 'educated' to see it as merely "a correction," while in reality a global catastrophe is unfolding in which even the biggest banks, funds, and financial enterprises may be wiped off the map; in which entire currencies can become non-negotiable.
Does this sound unbelievable? It should! Unfortunately, this is where the reality lies. The fact is, that a $.03 trillion in additional write-offs nearly wiped out the Japanese banking system, the biggest in the world, that carries over seven trillion dollars in assets. If this tiny amount causes earthquakes, it takes no genius to extrapolate the effects that a major upset in a $100 trillion market can produce, which itself, is anchored in the most volatile 'waters' on the planet.
Speculation and self-interest, as seen in the larger context.
Speculation is related to self-interest. There are four types of self-interest by which persons aim to gain a stronger position in the world.
01
.1. A person can participate in the universal development of society and find a richer life through the advance of civilization. This is reflected in the principle of the nation-state.
.2. A person can also gain a stronger relative position by stealing from others and by destroying their prospects. This is reflected in all feudalist structures.
.3. A person can push forward independently to gain advantage over others by exploiting their needs and general reactions, without any concern for their impact on society. This is reflected in speculation.
.4. A person can also do nothing, and imagine himself to be drifting in the right direction while regression erodes all standards that define the quality of life.
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Each of the four processes relate to a different type of self-interest. The feudalist process (see item 2), for instance, developed out of the interests of the rich, influential, and powerful - the oligarchy. The oligarchic interest is focused on creating short-cut processes to wealth that bypass creative productivity in favor of various forms of stealing or looting. Historically, this involved colonialization and slavery. The modern means for colonialization are found in the cartelization of resources through mining cartels, oil cartels, food cartels, etc.. The modern means for slavery are provided by free trade between unequal-wage-cost economies, and the creation of debt bound economies (some call this usury or interest rate slavery).
As economic theft through colonialization and slavery is strongly antisocial, the oligarchy has found it necessary throughout the ages to artificially create an environment that protects its position of power. This involved two platforms: The creation of poverty and the creation of impotence, not for itself, but for the general society.
In historic times, feudalism created sufficient poverty on its own, to satisfy the oligarchy. Except, this is no longer deemed to be enough as in modern times poverty has been eroded through technological and industrial progress. In modern times, therefore, the stark poverty of bygone ages is being recreated by means of deindustrialization (the post-industrial society dogma); by means of a general devolution of education and housing; and by the glorification of mysticism and the deculturalization of society through drugs, focus on sex, degradation of music, art, and literature.
In historic times, feudalism also created a general impotence among society. The peasant presented not a threat to the status of the lord. A highly developed and population rich society, however, poses a great threat to feudal oligarchism. The creation of impotence, therefore, became important to the oligarchy in the modern times, which it aims to achieve through depopulation.
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Stories about
Sex
from novels by Rolf A. F. Witzsche
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