credit cards

Don’t Borrow

Don’t Borrow on July 2, 2011

The latest financial bailout of Greece, announced last week, has once more put off the day of reckoning for the European Union and maybe for the worldwide financial system, but that day is merely postponed, not cancelled. The problem is systemic. If democratic politicians want to be re-elected, they must borrow to pay for the free lunches on which they themselves have made the peoples insist, but the folly for individuals, families or nations of taking out loans upon loans cannot last for ever, and one day it comes to a crashing halt. Such peoples and politicians have today long been on the wrong road, because the decision to heap up loans is ultimately stupid or criminal.

It is stupid if the basic wisdom has been forgotten of three lines of Shakespeare, worth volumes written by professional “economists”:— “Neither a borrower nor a lender be / For loan oft loses both itself and friend / And borrowing dulls the edge of husbandry.” In other words a habit of borrowing accustoms one to not “husbanding” or looking after the resources one has. For instance, at least to begin with, money borrowed comes too easily, thus undermining the sense of money’s value and the sense of reality, for instance how hard money can be to earn or eventually to pay back. As for lending, says Polonius (Hamlet, I, 3), not only are loans often not paid back, but also if I have lent to a friend who cannot pay back, he can be too afraid or ashamed to come near me again.

However, not all lenders are stupid. A number of them are criminal, because they know that by lending money at usurious rates of interest they can reduce individuals, families and nations to poverty and slavery – “The borrower is servant” (or slave) “to him that lendeth” (Prov. XXII, 7). Certain credit cards are now paying between 20 and 30% rates of interest, yet the Catholic Church has always severely condemned usury. Usurers are criminals who destroy the fabric of society by impoverishing and enslaving their fellow men, or whole nations.

In modern times usury takes different forms, say the Popes, and this is why the whole world should now be waking up to the fact that it has let itself be enslaved by the cunning money-men, who use their money to master the media and politicians in particular, and thus buy control of an entire society giving itself over to Mammon. The question then arises, how can God have allowed such a state of affairs to come about, and how can he now be meaning to allow the immense suffering that will come with the imminent financial crash and/or World War, both of which will have been engineered by his enemies to give them, as they hope, total world power?

The answer is that he has granted such power to his enemies because their cruelty and inhumanity serve him as a scourge to be laid across the back of a world that has turned away from him, and has preferred to take Mammon for its master – you cannot serve both God and Mammon, says Our Lord (Mt. VI, 24). And God will allow a great deal more suffering in the near future, because “In suffering is learning” (Aeschylus), and in fact only heavy suffering will today be enough to enable any significant number of souls worldwide to learn that their materialism and worship of Mammon are treacherous enemies of their one true interest, the salvation of their eternal souls.

Mother of God, obtain mercy for us poor sinners!

Kyrie eleison.

Crisis Advice

Crisis Advice on February 26, 2011

The Catherine Austin Fitts referred to in last week’s “Eleison Comments” as quoting a Washington insider boasting how the modern world is run on fantasy, was herself a Washington insider, having been Assistant Secretary of Housing in the administration of George Bush Senior. She knows what she is talking about.In the same interview she had other interesting remarks to make, in particular the advice she would give to the average American concerned about his economic future and who wants to preserve his wealth and quality of life. She said (see www.321gold.com, Feb 2, “We are victims of a Financial Coup d’Etat”):—

“Your time and attention count. Stop listening to or associating with people or institutions that have a vested interest in centralization. Start by turning off your TV. Shift your deposits, purchases, and donations to people and companies that you can trust. Lower your overhead. Use your time to build as many skills as possible that can help you do more for yourself and barter with those around you. Invest in tangibles, including precious metals. Do not allow yourself to be drained by what I call the “slow burn.” Finally, build your understanding and ability to engage in spiritual warfare. The financial corruption is a symptom of a much deeper and very invasive moral and cultural problem. Organize your life to serve whom and what you love.

“Protect your health. The food and water supply is slowly being controlled and poisoned. Taking steps to assure local sources of fresh food and water is essential for your health. So is educating yourself on steps you can take to detox your body and build your immune system. The rise of environmental and electromagnetic pollution calls for a level of effort to maintain physical energy and strength that was unthinkable a decade ago.”

In the same line of thinking and on the same web-site (Jan. 17, “Waiting for a Hero” by Larry Laborde) is another paragraph of highly practical advice for anyone who can see trouble coming:—

“So what should the average citizen of these great United States do at this point? Avoid municipal bonds like the plague. They will default first. Avoid long term US bonds as well. Short term US notes (6 months or less) are probably OK for now but keep your finger on the sell trigger. Cut back on all expenses and raise cash. Live BELOW your means. Save cash and hedge that cash with precious metals. Keep your cash in local credit unions or locally owned banks. Check their ratings and make sure you are saving in the safest institutions in your area. Cut up those credit cards and quit using them. Pay cash for your purchases. Keep 2 months of cash on hand in an emergency fund. Invest your precious metals 50% in gold and 50% in silver. Invest in physical precious metals when possible. For small investors a good investment is to simply purchase 6 months of non-perishable supplies that they normally use every day. They will probably cost 5 to 10% more in 6 months (not a bad return). Plant a garden or support a local farmer (or both).”

In brief, wake up! To wake up, readers, start by turning off the television set. Live not beyond your means, but well within them. Save cash, invest locally and invest in precious metals. Get at least mentally out of the rat race, and get mentally from the virtual back to the real. Stop using credit cards. Lay in some food supplies, but be careful what you eat and drink. Wake up to the enemies of mankind poisoning food and water in pursuit of global control, part of a war on mankind which is fundamentally spiritual. Catholics, get your Faith on to a war footing!

Kyrie eleison.

Rampant Unreality

Rampant Unreality on August 28, 2010

On a private visit two weeks ago to the USA, my first since 2008, I was able to enter and leave the country with no personal problems, but on a two-hour tour which a friend gave me of a major American city, devastated by the recent economic downturn, I observed some daunting social problems:—

As we drove towards the city past a handsome housing estate in the country, he said, “You see all these expensive-looking houses? They are in fact poorly built, cookie-cutter houses, way over-priced, bought with money out of nowhere from the Clinton era (1992–2000), by people living in a dream, from paycheck to paycheck, in a false paradise of high credit, materialism and excessive spending. If they lose their jobs, as many are doing, they will be lucky to get half their money back on their houses. The men have no real skill or trade. Theirs is a world of slick tongue nonsense . . .

“They are mostly white people who have fled from the inner city suburbs where we are now arriving. Look around you at all the houses boarded up, abandoned, dilapidated, with huge gaps in between where the housing has been destroyed to give the illusion of prosperity. But the lost jobs will not come back, so there is no real basis for a return to prosperity. The neat houses you do see have been repaired or re-built with Government money borrowed by the broke city in accordance with unreal housing projects, because the neat houses will not usually be cared for, but will soon be dilapidated again. There is a kind of Government aid which can do more harm than good to the people it is supposed to help, by trapping them in their dependence on it . . .

“Now we are coming into the downtown where you see tall handsome buildings, but also few people circulating. The buildings go back to the 1920’s when this city was a great industrial centre, but after World War II the USA began to lose its industrial pre-eminence. Around the Reagan years (1980–1988) began, as I see it, a false stimulus by the credit card being made available to the common man. In the 1990’s a non-white mayor was elected here who did his serious best to bring business back to the city, and some of these handsome buildings are due to him, but he was voted out by his own people because he was not like one of them . . .

“The economy is hanging on a thread, yet most people think everything will be fine in a year’s time. They think it is lovely if the Government just prints or digitalizes more and more money. Five per cent of the people, or less, understand just how grave the situation is, and less than one per cent see religion as playing any part in their country’s downfall. People look only for band-aids, not for deep or real solutions. The whites have allowed themselves to be given a huge guilt complex, and they have caved in without admitting it. There is a huge problem that everybody senses and knows, but they are too afraid to talk about it . . .”

Yet within 50 miles of this city thrives an SSPX parish and school, unknown or disdained, yet embodying the one true solution: God.

Kyrie eleison.

Christmas Cheer

Christmas Cheer on December 19, 2009

Here is some good news for Christmas, drawn from England’s “Catholic Herald” of Dec. 11: a report from the United States tells that the present economic recession is helping marriages. The recession began towards the end of 2007. In that year the divorce rate in the USA was 17.5 for every thousand married women. In the following year it was 16.9. Lessons at what Americans call “The School of Hard Knocks” are costly, but they sure teach!

“Marriage in America: The State of Our Unions 2009” is the title of the Report published jointly at the Institute for American Values, University of Virginia, by the Center for Marriage and Families and the National Marriage Project, whose director, Brian Wilcox, wrote the Report. He says that millions of Americans have adopted a “homegrown bailout strategy,” and “are relying on their own marriages and families to weather this storm.” As our new-fangled world collapses, so the old proverbs come back into their own: “Every cloud has a silver lining”; “Blood is thick and water is thin”; “There’s no place like home.”

Another piece of evidence quoted by Wilcox to prove that the economic crisis is helping marriages is the decision of many married couples to get rid of credit card debt. As reported by the Federal Reserve Board, Americans have reduced their collective revolving debt by 90 billion over the past year. Wilcox says the recession has revived the “home economy” as more and more Americans are growing their own food, making and mending their own clothes, and dining out less often: “Many couples appear to be developing a new appreciation for the economic and social support that marriage can provide in tough times.”

Husbands, behave like men, and turn to your wives for support. Wives, glory in your womanly gifts which men do not have in anything like the same measure, and lean on your husbands for strength. A man without a woman is normally a zero (yes, zero!). A woman without a man is normally even less, an incomplete zero, or an open U. But put the U as support beneath the zero, and you suddenly have 8! On the Miraculous Medal, is not the Cross of Our Lord shown resting on the M of Mary? To go through with his Passion Our Lord chose to renounce all his divine Strength. But could his humanity alone have performed our Redemption without the human support of his Mother? Never!

Not many economists have any common sense, but the few that are not living in la-la-land all see this recession getting much worse yet. Mothers, re-learn domestic skills. Fathers, re-learn vegetable gardening. All lovers of truth and reality, strengthen not only family ties, but also neighbourhood ties. It is going to be a question of survival, and our governments and media are not going to help, on the contrary, unless they seriously change direction. “Our help is in the name of the Lord,” figuring at this time of year as a powerless human baby. Yet this baby is the Almighty!

Kyrie eleison.

Giga-Shenanigans

Giga-Shenanigans on October 18, 2008

Without pretending to be any kind of an expert on matters financial or economic, I have for over a year now been following with a keen interest the evolution of the financial crisis that burst upon the global scene in the summer of last year, 2007. One could guess that it would have an impact on all of our daily lives, and also it seemed to be the beginning of that massive reality check which a number of us have long since seen coming.

As to our daily lives, a recent article on CREDIT CARDS made good sense. It said, get rid of them! The crisis consists essentially in mountains of debt, piled up over tens, even hundreds, of years, and which must be paid back or defaulted on. Now credit cards are an all too easy way of running up debt, and the rates of interest to be paid on them are often sheer usury. Unless one is very disciplined in their use, they should be torn apart and thrown away, and debit cards should be used in their place, if necessary. St. Paul says, owe nothing to any man, except charity (Romans XIII, 8). The Old Testament says, the debtor is slave of the creditor (Proverbs, XXII, 7).

As for the grander question of a global reality check, many things are not clear in what is happening, because the hidden paymasters of the media make sure that we never get the complete truth on their television or in their newspapers. What their lies will not twist, their half-truths and omissions will conceal. They are an “operation of error” (II Thess, II, 10).

However, a few things seem clear. Firstly, the recent 700 billion dollar “bailout” in the USA is a mere drop in the bucket compared with the problem to be bailed out – a mountain-range of 1.4 quadrillion (thousand thousand thousand thousand million) dollars’ worth of worthless debt hanging upon “derivatives” (highly complicated financial instruments of many kinds, whose value derives from other assets). Secondly, only by fantasy and greed can so many money-men over the last 20 years have chosen to deal, or let themselves be tricked into dealing, in such worthless paper, that its collapse now threatens the global economy.

But it is absurd to imagine that the world’s top money-men did not foresee the danger. The evidence abounds that they deliberately created the danger, so that to avoid losing all our goodies in a global collapse we would come begging to them to impose on us their global police-state. We have worshipped Mammon. Now Mammon is poised to enslave us.

Kyrie eleison.