Adonis Diaries

Posts Tagged ‘Jacques Necker

Tidbits and notes posted on FB and Twitter. Part 244

Note: I take notes of books I read and comment on events and edit sentences that fit my style. I pay attention to researched documentaries and serious links I receive. The page of backlog opinions and events is long and growing like crazy, and the sections I post contains a month-old events that are worth refreshing your memory

Zappos empire started off as a dropshipper. “We didn’t carry any inventory; instead we relied on shoe manufacturers to ship products directly to our customers,” founder Tony Hsieh told the Harvard Business Review. “That system never worked very well. We didn’t have 100% accurate information about our vendors’ inventory, and because their warehouses were all over the country, delivery times weren’t predictable.”

So did Amazon empire. “Order a CD from CD Now, Music Boulevard or Amazon.com, and your order is electronically transmitted to Woodland, Calif.-based Valley Media, the country’s largest audio wholesaler, which picks, packs and ships the disc straight from the warehouse,” Forbes reported in 1998.

“Until Amazon recently began building its own book warehouses, the online booksellers sole task was to transmit orders to two of the country’s biggest book distributors, Ingram Books and Baker & Taylor, which then drop shipped to customers.”

Israel did it again in less than a week: Israel live bullets injured 1,100 Palestinians and killed 8 on the borders with Gaza.Values and human emotions have been redirected to futile events in the western culture. Western “civilization” has decided that Zionism and Israel constitute an integral parts of their culture of colonial behavior and blatant apartheid and occupation processes.

Israel is back at its genocide activities withing a week: 1,100 Palestinians injured by mostly live bullets on Gaza borders. 10 dead martyrs. And western civilization Not that concerned.

Here we go again: a car plowed through a crowd in Munster, Germany. 3 dead and 20 injured. We’ll cover this event for an entire week on all western channels. This Friday, Israeli snipers injured 1,100  with live bullets and killed 10. Any coverage of that slaughter-hood by any State?

A 2017 study by Italian consumer rights group Codacons found no less than 25% of the entire Italian adult population—or about 13 million people—visited astrologers, fortune tellers, and the like, making an estimated 30,000 daily visits to experts who charge fees ranging from 50 to 1,000 euros.

Excellent news: Lebanon just received only $11 bn instead of expected $17 bn: the Lebanese can save interest on the expected $6 bn more.

Je compris que dans certain milieu on ne devient Ame que lorsque la rente est elevee’.

In 1748, Montesquieu in  “Of the spirit of laws” wrote: “There are a few financial specialists disseminating the concept that public debts multiply wealth and increase circulation of money and internal trade.  Facts are, the real revenues of the State, generated by the activities of industrious citizens, are transferred to idle classes.  The consequences are that we make it more difficult on the industrious citizens to produce profit and worst, extending privileges to the passive classes.”

In 1781, Jacques Necker, France minister of finance, proclaimed that “There can be no peace in Europe unless public debts are reduced to the bare minimum:  Public debts are sources for increasing the military capabilities designed for destructive activities; and then more debts are accumulated for the reconstruction phase.  A devilish cycle that is anathema to prosperity and security

If almost all States (the developed countries first of all) have incurred public debts then, who are the creditors? China economy has saved 2.5 trillion and Brazil and Turkey less than 500 billion.  All these savings cannot cover the amount of necessary public debts required by the debtor nations. Even Saudi Kingdom and the Gulf Emirates are currently borrowing money. Only the northern European countries (Norway, Sweden, Denmark, Holland) managed to maintain a Sovereign Fund. Syria was debt-free before the war in 2011.

Fact is, world finance is functioning on worthless paper money and other financial tools transmitted here and there to give the illusion that the system is functioning. Transferring trillion of dollars every day!

The militarily weaker creditor will suffer now or later; it is a matter of delayed punishment for loaning a more powerful debtor, whether voluntarily or after coercion. The same is true for militarily weaker debtors: Excuses for military intervention.

Elon Musk (SpaceX and Tesla) is a case of Not earning much to pay taxes. He is relying on heavy investment through the prodding and urging of the government and the military to investors (sort of guaranteed loan. No matter is the balance sheet, investors will Not lose money)

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Notes and tidbits posted on FB and Twitter. Part 134

Note: I take notes of books I read and comment on events and edit sentences that fit my style. I pay attention to researched documentaries and serious links I receive. The page is long and growing like crazy, and the sections I post contains a month-old events that are worth refreshing your memory.

If this Symbol of Jerusalem can appease the soul of all the religious sects swarming in this calamity city, let Trump declare Jerusalem a “neutral zone” to all religious sects, including the Jews, and the religious sites run by the UN as museums.

Since 1915, US Zionists pressured England to agree on a land for the Jews in Palestine in 1917, as part of entering the war. In 2017, an entire century, US pressured Israel to agree on Jerusalem as Capital. (Apartheid Israel has enough troubles without this new calamity)

So the US killed, injured, famished and displaced millions of Syrians, Iraqis and Yemenis for 2 decades in order to make the swallowing of Jerusalem as Capital of Israel as a far lesser Evil? Can Jerusalem from now on be considered the Symbolic Center of All evils?

In 1781, Jacques Necker, France minister of finance, proclaimed that “There can be No peace in Europe unless public debts are reduced to the bare minimum:

Public debts are sources for increasing the military capabilities designed for destructive activities; and then more debts are accumulated for the reconstruction phase.  A devilish cycle that is anathema to prosperity and security.”

Thomas Jefferson recommended, and then imposed his view when he became President to the new Independent America, that loans should never be contracted out by States for longer than 19 years so that future generations do not have to suffer decisions of the living ones.

In 1748, Montesquieu in “Of the spirit of laws” wrote: “There are a few financial specialists disseminating the concept that public debts multiply wealth and increase circulation of money and internal trade. Facts are, the real revenues of the State, generated by the activities of industrious citizens, are transferred to idle classes. The consequences are that we make it more difficult on the industrious citizens to produce profit and worst, extending privileges to the passive classes.”

Funny. Lebanon news media are still focusing on Saad Hariri. Is Jerusalem crisis off the air? Is Jerusalem within the stupid concept of “na2i bil nafess” (Not meddling)?

As life expectancy is increasing, I suggest that Constitutions should force governments and official institutions to restrict the life of any loan to be 5 years shorter of the lower number of the average life expectancy or the age of retirement of citizens in the creditor nation.

War is the preferred default mechanisms on outrageous contracted debts, particularly when the creditor nation is weaker militarily.

If it were in another time USA and another serious President, this declaration about Jerusalem status would have worried me. It seems all too clownish. And the government altogether. from Jared to this Pence the idiot.

Wars: Uncanny connections to Sovereign public debts 

The direct connections among exorbitant levels of accumulated public debts and wars have been recognized for centuries, on black and white.

We witnessed that war is one of the preferred defaulting mechanisms on outrageous contracted debts, particularly when the creditor nation is weaker militarily.

In the last two centuries, the world witnessed 320 defaulting decisions by debtor nations.

Is it a coincidence that the last two centuries experience as many wars?

If you compare the two graphs of dates on defaulting and the timing of subsequent wars then, you realize that there are direct interrelations between the two factors.

1. In 1770, (England sovereign debts amounted to 140% of its GNP)

Adam Smith wrote: “At a level of accumulation of national debts, there are no examples that the debts have ever been repaid.  Public revenues were always freed to be spent, but never to paying off any debts. Governments prefer to default, occasionally admitting the debts, occasionally pretending to have paid off debts, but always incurring a real debt.”

2. In 1716 France, after the monarch Louis 14, was totally bankrupt:

The Scottish John Law convinced the French Regent to issue paper money covered by gold for easy circulation of money and internal trade.  To entice the public into accepting paper money, interests were added, secured by a special perpetual fund called the “General Bank“.

This bank was to be supplied by financial resources converging from the America’s colony of greater Louisiana.  The Mississippi Company, (later renamed the “Western India perpetual company“), was collecting indirect taxes for France.  Speculation by French nobility transformed the central bank into a machine for printing worthless paper money and the collection from Louisiana stopped to converge to France.

In 1748, Montesquieu in  “Of the spirit of laws” wrote:

“There are a few financial specialists disseminating the concept that public debts multiply wealth and increase circulation of money and internal trade.  Facts are, the real revenues of the State, generated by the activities of industrious citizens, are transferred to idle classes.  The consequences are that we make it more difficult on the industrious citizens to produce profit and worst, extending privileges to the passive classes.”

In 1781, Jacques Necker, France minister of finance, proclaimed that “There can be no peace in Europe unless public debts are reduced to the bare minimum:  Public debts are sources for increasing the military capabilities designed for destructive activities; and then more debts are accumulated for the reconstruction phase.  A devilish cycle that is anathema to prosperity and security.

Necker was the first financial official in France to present a transparent statement sheet of all the revenues and expenses for the budget and he encouraged the French monarchy to emulate England by submitting complete budged so that investors and lenders be informed of the financial situation and be encouraged to considering France as a viable country to invest money in.

At the time, England had replaced Holland as the financial center of the world and the central Bank of England was already established.

All indicate that trends in growing sovereign debts in the richer and developed nations are not going to change till 2014.

In that year, it is expected that Japan public debts (mostly internal) will reach 250% of its GNP, Italy 130%, England 100 %,  the USA 100% (or $20 trillion, the interest alone representing 400% of its fiscal yearly revenues), France 95%, and Germany 90% of GNP.  The US will have to reimburse $850 billion in 2012 and finance one trillion.

The emerging States and most of Latin America countries are experiencing steady drop of their public debts to an average of 40% of GNP by 2014.

My question is:  If almost all States have incurred public debts then, who are the creditors?  

China economy has saved 2.5 trillion and Brazil and Turkey less than 500 billion.  All these savings cannot cover the amount of necessary public debts required by the debtor nations.

Fact is, world finance is functioning on worthless paper money and other financial tools transmitted here and there to give the illusion that the system is functioning.

So far, the IMF and the World Bank are controlled by the G8 who can withdraw at will from these supposed to be international financial institutions.  This situation of relying on magical financial illusions cannot persist for long.

A third World War will be created intentionally by superpowers in order to starting from scratch before establishing sustainable financial institutions, rules, and regulations.

If you carry a credit card at an interest rate of over 20% then, you know that the principal could never be paid since the credit limit is 50 times your real annual income  in order to finance a purposeful inflationary policy to give the illusion that the ratio of public debts to GNP is being reduced.

Not only 20% interest rate is exorbitant, but adding unpaid monthly installements to the principal is what all ancient customs forbade.

For example, if people of “independent means”, called rentier in French, could invest in a productive businesses generating profits of over 20% they would not have lent their money.  It is imperative that payments on interest should not last more than 7 years and further monthly payments automatically directed to paying off the principal.

Thomas Jefferson recommended, and then imposed his view when he became President to the new Independent America, that loans should never be contracted out by States for longer than 19 years so that future generations do not have to suffer decisions of the living ones.

As life expectancy is increasing, I suggest that Constitutions should force governments and official institutions to restrict the life of any loan to be 5 years shorter of the lower number of the average life expectancy or the age of retirement of citizens in the creditor nation. 

Anyway, if the loan is a private one, the lender should be able to enjoy his placement while alive and not suffer from defaulting decisions.

Note:  Reviewing the history of public debts since antiquity, the consequences of incurring huge public debts are the same:  Whether the dept is contracted out to a person (the monarch) and the debt is cancelled once the individual is dead, or the public debt is shouldered by a sustainable “immortal” entity such as a State, the weaker creditor will be punished.

The militarily weaker creditor will suffer now or later; it is a matter of delayed punishment for loaning a more powerful debtor whether voluntarily or after coercion.


adonis49

adonis49

adonis49

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