"The Real Panic Hasn’t Even Started Yet, Part 1”
Chris Martenson, Peak Prosperity
The video above is a great introduction to understanding the current state of the financial system of the US…and that we are on an unsustainable path (admitted by Jerome Powell), which is nearing the breaking point. This is well worth the 44 minutes of your time today. For the adults remaining in the room, we have a responsibility to ourselves, our loved ones and to Holy Church, to be awake and respond appropriately to as is said below, “the hand we are dealt.”
Here are Martenson’s notes on the video:
“The core insights that define the Peak Prosperity way of seeing the world are set against real-world data in this episode. Energy, debt, wealth, currency, GDP, & the fiscal vandalism of Congress combine to assure that the future will consist of hard choices as we navigate self-inflicted predicaments…Staying on top of and making sense out of the world is a real problem these days. At times like these, I like to back way up and take a wide-angle, big-picture view of the situation. When I do, things clarify, although I often wish that the picture were more benign or hopeful. Alas, we play the hand we are dealt. Once enough people see things this same way, and we cross over the common knowledge boundary line, real financial panic will set in. That’s how it will be perceived and reported on, but it will actually be a sudden and quite necessary realignment between what we have been conditioned to think of as wealth and real wealth. The difference is between primary and secondary wealth which are real and tangible, and tertiary wealth which is abstract and nothing more than a claim on real, tangible wealth. Cash only has value if you can buy something with it.
To understand this and then act on it, it’s essential to grasp the connection between oil and the economy, and the degree to which our economy is fictional due to its dependence on the perpetual expansion of debt at a rate that far exceeds the underlying economy’s rate of growth. It’s a complicated set of connections, to be sure, but vital to grasp. Armed with this information and framing, you will be far in front of the rest of your fellow humans and able to more gracefully navigate the emerging risks and opportunities.”