Billionaire Hugo Salinas Price - Elites Plan to Control the World

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_http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/8/2_Billionaire_Hugo_Salinas_Price_-_Elites_Plan_to_Control_the_World.html

From King World News, interview with Hugo Salinas price, in part about how "barbarians" who have no clue what they are doing have taken over the world. Partial transcript:

With regards to the social question in the world, in 1929 a Spanish thinker by the name of Ortega y Gasset wrote a book that really shook up the world titled, ‘The Revolt of the Masses.’ He was talking about the appearance on the world stage of new individuals.

He was writing about the growth of the population and the appearance of new individuals coming in to the mass of humanity. And these individuals evidently are (what he described as) ‘barbarians.’

They came too suddenly to be educated, and for the knowledge of how to keep the Western way of life alive. These (barbarian) people have increased (in numbers), and now they have taken over power (in the world).

So now we are in the hands of ‘barbarians.’ They have no idea of how our society came to be, and what is necessary to keep it going. They are fiddling with the controls: You might think of a monkey flying a 747 (airplane) -- they don’t have any idea what they are doing. And this is not going to end well with the barbarians at the controls.

We don’t have people who write books in power any more. I remember when a Prime Minister of England was a skilled musician and wrote books before he became Prime Minister. Where do we have such people in power today? We don’t have scholars or people with a true background of education, history, economics and politics.

They are all working on the spur of the moment. They are experimenting to see if this works and that works. And I have very serious doubts about the survival of our civilization under such people. I expect that a great crisis is coming. We are going to see a great separation and some people are just not going to make it, and the old truths are going to come back into fashion because of the need for survival.”

Hugo Salinas Price also added: “I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).

There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.

What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world.”

Full interview audio here:
_http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2013/8/4_Hugo_Salinas_Price.html

Replace "barbarians" with "psychopaths" and it's pretty spot on. Audio interview goes into more detail, especially the point that "elite" does not mean "superior human being" as it should, but rather just some nutcase in power screwing things up.

 

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Hugo Salinas Price also added: “I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).

There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.

What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world.”

I agree with the remark on the interest rates. Currently the 10 year term rate is 2.65% in the US, which is rather low but still too high when the debt is 160% of the GDP (in a nutshell, it means that a 5% growth is needed every year only to pay for the interests on the debt. We can forget about it).

Ben Bernanke is resorting to the only solution left : quantitative easings. He has created approximately 1000 billion dollars since Januray. Shinzo Abe in Japan has done the same while the Japanese economy represents only one third of the US one (he has even declared "unlimited" quantitative easings, thus creating a new figure, the "unlimited"). Unbelievable. Both the dollar and yen have completely lost their value, and the euro follows the same way. The aforementionned countries and some ones of the eurozone (Greece, Spain, Italy, Portugal, France...) will never pay off there debt. The quantitative easings are "desperate forward moves" because there is no other solution to keep the economy "alive". I do not know how to say in english "fuite en avant". From this observation, 2 endings may happen :

- A president publically announces that his country will not pay off his debt, which implies that the small savers and creditors are ripped off.
- The quantitative easings continue until trust in the currencies is lost. At this point, end of the game.

I would vote for the second solution because i do not see which politician would have enough guts to go in front of a mike and announce "I will not pay off what i owe you" to his creditors (thus ripping off his citizens). Such a politician could finish "deleted". But in case of loss of trust in a currency, the politicians can blame other people for it, saying "if you had still accepted this money, everything would be fine. I'm not responsible for this situation". The yen should fall first, but i'm not sure. It may be the dollar or the euro first. I must add that China is turning its huge dollar reserves into physical gold, like it was aware that dollar is bound to fall very soon.

_http://goldnews.bullionvault.com/china-buying-gold-062520133
_http://www.forbes.com/sites/gordonchang/2012/01/29/why-are-the-chinese-buying-record-quantities-of-gold/

Is that the massive bankruptcy the author is talking about? Does anyone see a third solution ? Will the G20 regroup and find a magical one ?

It is not crazy to talk about gold payment in the near future as the author does. How will the economic crisis be solved ? Is there any way not to be robbed of our savings ? What will come next ?

My conclusion : the only way to fix the problems of capitalism is to get out of it. To continue existing, capitalism has to become authoritarian. Are we going back to the economic prehistory in the next few years/months ?

PS : I do not believe that the system will collapse because it is too strong and has never been that strong. If it does, it will be because of an external event.