Tag: money

Delinquent Finance I

Delinquent Finance I posted in Eleison Comments on October 29, 2011

The imminent collapse of global finance, and/or the advent of global finance on the way to global government which that collapse has been designed to bring on, should be making souls think: how did we get into this mess, and how do we get out of it? If Almighty God has had no part to play in such a serious crisis, then obviously he is not serious but just a feel-good Sunday pastime. On the other hand if he is as important as once the builders of medieval cathedrals obviously thought, then neglecting him will have had a central part to play in today’s triumph of finance over reality.

Indeed one must go back to the Middle Ages to understand where today’s disaster has come from. As the Faith began to droop after the high Middle Ages, so men became more and more interested in Mammon, the other great motivator of their lives (Mt.VI, 24). Thus money, natured to be the servant of the exchange of real goods and services, was unhooked from nature to become modern finance, master of the global economy. A key step in this process, leading directly to today’s mountains of unpayable debt in all directions, enslaving the world to the visible bankers, or rather to their invisible controllers, was the post-medieval spread of fractional reserve banking.

When money serves the economy, a wise State will ensure that its total quantity in circulation goes up and down with the total quantity of real goods to be exchanged in that economy, so that its value will remain steady. Too much money chasing too few goods will mean its value drops by inflation. Too little money pursued by too many goods will mean its value rising, by deflation. Either way its changing value destabilizes all exchanging of goods. Now if banks, in which depositors deposit real money, need keep only a fraction of that real money in reserve to back a much larger quantity of paper money which they can put into circulation, then by putting too much or too little into circulation, they can play with the value of money and make fortunes by lending out cheap money and demanding back expensive money. Thus financiers can take over control from the State.

Worse, if fractional reserve banking enables banks to disconnect money from reality and fabricate it at will, and if they can charge even slight compound interest on their funny money, then logically they can – and do! – suck all real value out of an economy, reducing most depositors to borrowers and most borrowers to hopeless debt-slaves, or mortgage-slaves, taking care only not to kill off completely the goose laying the golden eggs for their benefit. The divinely inspired wisdom of the law-giver Moses was to put brakes on all lenders’ power by cancelling all debts every seven years (Deut.XV,1–2), and by restoring all property to its original owners every 50 years (Levit.XXV, 10)!

And why did Moses, great man of God and therefore man of deep “spirituality,” concern himself with such materialistic questions? Because as bad economics can turn men to despair, towards Hell, away from God – look around you, today and above all tomorrow – so good economics make possible a wise prosperity which in no way worships Mammon, but makes it rather easier to trust in the goodness of God and to worship and love him. Man is soul and body.

Moses would surely have smashed fractional reserve banking, like he smashed the Golden Calf!

Kyrie eleison.

Crisis Films

Crisis Films posted in Eleison Comments on September 24, 2011

Two interesting films have already appeared about the arrival in the USA of the financial and economic crisis which has been threatening since 2008 to undermine the whole Western way of life. Both films are well made. Both are persuasive. Yet one says the bankers are heroes while the other says they are villains. If Western society is to have any future, the contradiction deserves thought.

The documentary film Inside Job consists of a series of interviews with bankers, politicians, economists, businessmen, journalists, academics, financial consultants, etc. There emerges a frightening picture of greed and collusion in fraud at the top of American society in all these domains. Free enterprise was the justification for the financial de-regulation of the 1980’s and 1990’s, which gave to the money-men steadily more power until they were able to bring under their control all politicians or journalists or academics of influence. Thus a process of merciless plundering of the middle and working classes is still going on. The anger of the victims is building towards an explosion, but at least for the moment the money-men cannot stop gorging at the trough they have so well designed for themselves. “Greed is good. It makes the world go round,” say the banksters.

In the second film, Too Big to Fail, the dramatic events of autumn 2008 centring around the collapse of Lehman Brothers, a major New York investment bank, are re-constructed. Hank Paulson, then Secretary of the US Treasury, is shown making a classic free enterprise decision by refusing a government bail-out to let Lehman Brothers go bankrupt. But the result is such a shock to the global financial community, threatening a meltdown of worldwide finance and commerce, that Paulson with his comrades in government and with the help of all the leading bankers of New York has to persuade the US Congress to approve a taxpayer bail-out of all the big banks which cannot be allowed to fail. He just succeeds. The system is saved. The government and bankers are the heroes of the day. Once again capitalism is proved to be the marvel we always knew it was – thanks to socialist intervention!

Then are the bankers heroes or villains? Answer, heroes at the very most in the short run, but certainly villains in the long run, because it needs very little common sense to realize that, all society requiring selflessness, no society can be built on greed, meaning selfishness. In any society there will always be the haves and the have-nots (cf. Jn.XII, 8). The managers of society who have the money and power absolutely must look after the masses who have neither, otherwise there will be revolution and chaos. Of course the globalists are planning on this chaos tomorrow to give them world power the day after, but while they may propose, it is God who disposes.

Meanwhile Catholics and anybody who cares about the future should go to see both films and then ask themselves some hard questions about capitalism and free enterprise. How on earth could capitalism be saved this time only by socialism? Is government then really all that bad? Is capitalism really all that good? How can a society possibly depend on greedy men to survive? How can it have got itself into such a dependency? And is there any sign right now that anybody is asking such questions? Or is everybody’s worship of Mammon – let us call things by their name – proceeding unchecked?

Unless Jesus Christ absolves men of their sins through his priests, no post-Incarnation system of society can ultimately work. Capitalism only ever lived off the Catholicism from earlier centuries. It is today’s exhaustion of Catholicism that spells the death of capitalism.

Kyrie eleison.

Tomato Stakes – I

Tomato Stakes – I posted in Eleison Comments on September 10, 2011

A little while back a family wife and mother told me she was having a hard time communicating with her husband. They could hardly talk to one another about what was going wrong without ending up mad at each other. Rightly or wrongly, I sensed that her problem was this universal, deliberate and diabolical denial of the marvellously complementary role designed by God for man and woman in marriage. Here is what I wrote for her. She said it helped her. May it help others. By the way, ladies, I do NOT think all the problem is on your side!

I am sorry to hear of a rough passage in your marriage. Rule number One: never argue with your husband in front of, or within earshot of, the children. They come first. You cannot help the family by pulling down your husband, or arguing with him in front of them. On the contrary.

Rule number Two: RESPECT your husband, even if he may not always deserve it. Women run on love, men on ego, a huge difference. That is why St Paul – WORD OF GOD – says, “Wives, obey your husbands, husbands, cherish your wives.” Huge difference! In any marriage where the husband shows love for his wife and where the wife respects her husband, normally the essence of a contented marriage is there. And if he does not show love for you, at least make yourself lovable, which you will never do by fighting with him.

Let it cost you what it may, respect your husband. He needs your respect more than he needs your love. You need his love more than you need his respect. Obey him. Never show that you are telling him what to do. Get him to decide to do what you want him to do. And for the wife to work outside the home is not a good thing, especially if she earns more than he does. If you have to earn, and do earn more, NEVER let it show. Disguise the fact. A man needs to see himself as the breadwinner, as the head of the house. You are the heart, just as necessary as the head for the family, maybe more so, but you are not the head. And if you are sometimes forced to act as the head, do not let it show, BUT DISGUISE IT.

I would be surprised if you could not make the marriage work. It usually depends on the woman to adapt herself to the man, and not the other way round. Russian proverb –“As the tomato plant is to the stake (around which it climbs),so the woman is to the man.” If he is not a stake, do all you can to make him into one. And if you cannot, then once more disguise the fact. God makes women more adaptable than men, so that they will adapt to their men.

You once said that the family needed money to educate the children. Has it occurred to you that the best and most important education of your girls is in their mother’s kitchen? Assuming that the mother is at home. You have much more to give your girls by your example than any school outside the home can give them. And give them the precious example of a wife and mother that obeys and respects her husband despite everything. Children are very observant. Your example is of crucial importance for the happiness of their future marriages and homes.

Argue with your husband if you like, but quietly, respectfully, and away from the children. And do not say, “I too have been out working all day long, I too need understanding at home.” For mothers to work outside the home is not normal, and the men sense it, even if it is their own fault. Men are what they are. This is the man that God appointed for you to marry. Give your children the example of respecting him. That is a precious gift, especially to your girls. All families today need a lot of prayer. Mother of God, help!

Kyrie eleison.

Don’t Borrow

Don’t Borrow posted in Eleison Comments 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.

Stay Awake!

Stay Awake! posted in Eleison Comments on April 16, 2011

In a situation of the world so serious that there are even rumours of Japan’s recent peacetime disaster, with its estimated 27,000 people dead, being not an act of God but an act of man (look up HAARP tsunami on the Internet), what can a Catholic do to save his soul? In all truth he cannot do much for the world, but the very least he can do for himself is watch, or stay awake.

It is Our Lord in the Garden of Gethsemane who puts watching, i.e. keeping our eyes open and not falling asleep, even in front of praying (Mt. XXVI,41). The reason is obvious. If, like Peter, James and John, I do not keep watch (Mt.XXVI,43), I will cease to pray, maybe, as in their case, when Our Lord most needs it. How many Catholics in the 1950’s and 1960’s, especially the clergy, were not watching the signs of the times in Church and world, and so were caught completely on the wrong foot by Vatican II? That is why “Eleison Comments,” as “Letters from the Rector” used to do, are constantly turning on economics and politics, to get Catholics to wake up to their religion and its demands, far outweighed by its promises (I Cor. II,9).

Thus an expert on Wall Street (see JSmineset.com, March 30, 2011) may say, “The financial system is screwed up beyond repair. On top of that there is no desire to repair anything because the wise guys know it is impossible. It is the world that the flushing of Lehman has created. It is not a brave new world” . . . Jim Sinclair says it does not matter how much “funny money,” as one can call it, the central banks go on creating . . .”The damage is done and there is no solution . . . please get physically self-reliant” (his words, my underlining).

Still, even Traditional Catholics are being tempted to doze off, not to say fall asleep. Here are two recent testimonies. The first is from a teacher in a Traditional school:— “I feel awfully alone in the battle, not the battle with external enemies in the world, but the battle inside the Society of St Pius X, which is being waged with such subtlety that nobody seems aware of it. It is the same as it was in the mainstream Church in the 1960’s, the same slow gradual shift in behaviour.”

The second comes from an inside observer of today’s Traditional Catholic scene in the USA:— “ It appears to me that Catholic militancy is declining. I see many Traditional Catholics, especially family fathers, accepting the ways of the world. The fight is no longer important to them. They are happy to have their beautiful Mass on Sunday, but on Monday send their children to public school. Each November they go out and vote for the lesser of two evils, watch (conservative?) Fox News and declare the (conservative?) Republican Party to be the answer to all of the world’s problems. In my humble opinion this lack of militancy is becoming more and more pervasive in the Traditional Catholic world. Are we (the laity) returning to the same set of circumstances that led to Vatican II? Is the Sunday Catholic now the predominant majority in the Traditional movement? I’m afraid that the answer to both of these questions may be, yes.”

For is it not so much easier to give up trying to swim against today’s current, so much cosier to fall into the arms of Sleep? The very least one can do for oneself is throw out that television set.

Kyrie eleison.

Unthinkable Thinking

Unthinkable Thinking posted in Eleison Comments on January 1, 2011

It is difficult not to think that 2011 will be a momentous year. The world lies in darkness of mind and corruption of will. The Church which should be “light of the world” for the mind and “salt of the earth” against corruption of the will, is in eclipse. It is still there, but its light and warmth, by the fault of men, barely reach them any longer.

Such being the case, troubles of the world and from the world must come upon us. There is going to be, this year or soon after, an unimaginable sea-change in human affairs. The inexorable laws of reality are about to turn world economics upside down, yet most “economists,” professional fools, are still peddling dreamland. To help family fathers in particular to think “outside the box,” let me quote some advice from one writer and speaker on practical affairs who has rather less lost his grip on reality: Gerald Celente, from the New York area (trendsresearch.com):—

“We are continually asked to provide specific trend-focused guidance on what to do to weather the financial storms . . . There are no simple or one-size-fits-all solutions. Every individual situation is different. If you are unemployed in a rural area, you will have a different set of possibilities, and a different set of problems, than people in cities or suburbs.

The key element to realize is that this is going to be a long haul. This is a time of contraction, and a time for conservation and preservation. Overall, there will be less disposable income, and fewer dollars to spend on non-essentials. What was considered an “essential” when money flows becomes “frivolity” when it dries up.

“When looking for work, if your better judgment tells you the job you had is no longer an option (real estate agent, mortgage broker, publishing, construction, retail, auto worker, etc.), now may be the time, if at all practical, to live out your dream. What have you always wanted to do? Have you discovered any unique talents and abilities that set you apart from others? Look systematically at what you would most enjoy doing and what the chances are to make a living out of it. That’s a starting point. If the only work you can find is menial, be the best at it. Do it with creativity and without resentment, and higher level possibilities will present themselves. If you do what you love, you’ll never have to “work.” One definition of happiness might be: “When you wake up in the morning and what you have to do is what you would choose to do.”

“Assess your personal situation. Look for people of like mind, in similar situations with complementary skills. There is strength in numbers. A group with a goal can initiate a program that would be unthinkable and unworkable for an individual.”

The underlinings are mine. I shall be delighted if I prove to be wrong, but I do think now that action’s top priority is soon going to be survival. Gerald Celente provides here a few lines of thought. Pray, of course, that is essential, but as the old saying goes, also keep rowing to shore.

To all readers I send my blessing for the New Year.

Kyrie eleison.