American Marine F-4B fighter pilot and Vietnam War veteran Bob Moriarty spoke with Mike Adams, the Health Ranger, about this final chapter of the Western financial system during a recent Health Ranger Report that you will not want to miss – watch below:
"It's time for people to educate themselves and make decisions for themselves (because) you can't count on the government," Moriarty stated at the beginning of the segment as a prologue to the things he would say after that, which may come as a shock to many.
"There's a lot of people talking who literally don't know what they're talking about," he explained, referring to the widespread misunderstandings about Western finance that are prevalent in the media headlines.
Michael Hudson, whom Moriarty described as the "best economic writer of today," recently published a book called "The Collapse of Antiquity" that talks all about the parallels between what is happening to the United States and Europe today, and what happened to the debt-based systems that served as the foundation of finance in the Greek and Roman empires of times past.
"The dynamics of interest-bearing debt led to the rise of renter oligarchies in classical Greece and Rome causing economic polarization, widespread austerity, revolts, wars, and ultimately the collapse of Rome into serfdom and feudalism," reads a portion of that book. "That collapse bequeathed to subsequent Western civilization a pro-creditor legal philosophy that has led to today's creditor oligarchies."
It turns out that the U.S. and Europe rely on this same flawed debt-based system whereby all "money" is created by banks that lend it into existence. Moriarty explained to Adams that banks create money by writing mortgages – and as long as there is interest charged, there is always more debt in existence than actual money."
"At some point in time, you have to balance the books," Moriarty explained about what we are now seeing happen as the debt bubble nears its inevitable burst.
(Related: A chief economist at Moody's recently warned that "things are going to start to break" all across the financial system.)
The Russia-Ukraine conflict is all about money: the Western debt-based system versus the Eastern resource-based system
Just like in Babylonian times, today's "kings," i.e., presidents and prime ministers, are coming to the stark realization that if farmers lose their property because of the debt bubble bursting, then there will be no more food even for them to eat.
"You go back to Babylonian times, the kings realized that they couldn't afford to have all farmers lose their property because they would starve and there would be nobody to grow food. We are in the exact same situation today," Moriarty warned.
"The world is washed in a sea of debt, and when the Federal Reserve and the EU lowered interest rates to zero or even below zero, they created a ticking time bomb that as soon as they increased interest rates, the value of bonds plummeted."
Not just banks but also the pension system is now at risk, as are insurance companies because they took on an asset that Moriarty says "should have been the safest and the most stable, which is government Treasury notes, and made it very unstable, which will lead to a total crash of the entire financial system."
With civil wars now erupting in France, where Moriarty lives, as well as in Israel and elsewhere, he made sure to emphasize that it is "all related to money."
"The Ukraine-Russian conflict isn't about Russia and Ukraine; it's really about the debt-based system of the West and the resource-based system of China and Russia," Moriarty explained.
The latest news about the breakdown of the Western financial system can be found at Collapse.news.
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