The world is on the brink of a major financial crisis that no one can fix and it has to do with greed, the super-wealthy, and the Chinese economy. While the rumble has gone on for some time we may now be about to witness the cave-in of the main system at the heart of the World order. Money is an invention that started with the Roman Empire and trade followed by a method of taxation that allows governments to seize a portion of income earned.
This called for records to be kept regarding money transactions and long before there were banks there was corruption and the hiding of deals that might incur a debt to the government. Over time the rich got richer and the poor got poorer. That has never changed and the ‘upper classes’ were able to virtually steal labour and their strength directed politics.
It led to the slave trade and then indentured labourers, share farmers, and a host of other systems that saw the wealth at the top increase to the point where now we are in a situation where the top is too heavy to support the bottom. This ship is spinning and it is sinking beneath the waves of corruption and destruction.
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As the playing field shifted and those who were previously on the bottom of the ladder suddenly rose to the top their need to hide money seemed to take over the entire financial system. Many put their wealth into off-shore tax havens and this has drained countries of tax revenue they need to run services. We already see bankrupt countries emerging, such as Venezuela where people are now starving and the economy is in ruins.
Add to that the uncertainly of a volatile situation in the oil producing countries of the east and the terrorism that is costing governments fortunes to stay alert while terrorists can strike anywhere at any time. This is obvious from the shooting in Orlando, Florida, where a gunman got into a nightclub and opened fire killing dozens and injuring dozens more.
China is a threat to the world’s economy as its yuan is posing a major problem. While it is known to be overvalued the wealthy within the country stand to lose fortunes if the government acts to decrease it. The stock market has already plunged a couple of times with the props hastily put in place to save it now buckling under the strain.
It is not a case of if but when the next financial crisis will happen and this time there may be no recovery. The bricks on which the economy stands are already crumbling making it a safe bet that it is happening now and gaining momentum.