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Paul Volcker: Ultimate Villain

Few historical figures of our recent era have been (falsely) lionized in a more egregious manner than the infamous Paul Volcker. According to the economic mythology written by our Revisionists (i.e. our “history”); Volcker almost single-handedly “rescued” the U.S. economy – and thus the entire Western bloc – with the ultra-extreme monetary policies for which he is credited as the architect at the end of the 1970’s.

During 1979 and 1980 the FOMC [Federal Open Market Committee], under Volcker’s leadership, sought to reign in [sic] double-digit inflation by setting strict money supply growth targets…The result of the switch in policy was a substantial rise in interest rates, with the prime rate peaking at 21.5 percent in December 1980.

The reality was that Paul Volcker was a monetary berserker. The task assigned to him by his Masters (the Old World Order) was not to “save” our economies – but to destroy them. In a recent commentary; Darryl Schoon identifies what Paul Volcker really represented:

In August 1971, at the urging of Paul Volcker, then Under-Secretary of the Treasury, President Nixon ended the convertibility of the dollar to gold; and for the first time in history gold was no longer money...

Paul Volcker took full responsibility for triggering capitalism’s end game. In a 2013 interview, Volcker explained his role in that consequential act with more than a modicum of pride: “I certainly was a major proponent of suspending gold convertibility, in fact the principal planner.” [emphasis mine]

As all sophisticated readers understand; it was the assassination of the gold standard (by Nixon/Volcker) which instigated the runaway inflation of the 1970’s – as all of our currencies were no longer “backed” (i.e. anchored) by any hard asset. Thus even if one actually believed the mythological account of Volcker’s exploits as written by the Revisionists; the best that could be said of this bankers’ stooge was that he was trying to fix a problem which he created.

Of course (as previously noted) “fixing” anything was absolutely the last thing on the mind of Volcker (and his Masters). They were purely obsessed with destroying. Proof of this requires nothing more than the ability to operate a calculator. What was the consequence of the draconian “21.5% interest rate” which Volcker inflicted upon the West – and the entire global economy?

What is the principal consequence of any/every increase in any interest rate? Higher interest payments. Specifically; the sadistic interest rates inflicted upon us by Volcker (and his Masters) roughly quadrupled the interest payments for everyone/everything, and with respect to all debts. Who are the obvious (and only) beneficiaries when interest payments on all debts are quadrupled? The bankers: Volcker’s Masters.

The mythology of the Revisionists that Volcker’s scripted sadism somehow “helped” our economies (and thus indirectly helped all of us) isn’t simply absurd, it’s mathematically/economically impossible. Again, proof requires nothing more than the capacity to operate a calculator (and some minimal familiarity with the economic context of those years).

At the time of Volcker’s savage attack on our economies; our governments had already descended into the era of permanent deficits. Thus, obviously, every penny by which interest payments were increased was directly and permanently added to our national debts. With many citizens already struggling to “make ends meet” (because of Volcker’s inflation) even before Volcker’s monetary attack; for many of them these higher interest payments also buried them in debt.

Simply, Paul Volcker is the Father of Debt Slavery. He (more than any other single individual alive today) is personally responsible for enslaving our governments (and our populations) in debt – and thus enslaving them to the holders of (the vast majority of) those debts: the bankers, more specifically, the One Bank.

Read more: Paul Volcker: Ultimate Villain

 

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