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  • Jim Costa

Jim’s Rant For The Day. Over The Top.

I once saw a war movie about our Korean War. The Americans held a line at the top of a ridge that was about the be overrun by the enemy. There were only about five defenders left. Rather than running down the back of the ridge they buried themselves in the trenches. The Koreans overran their position then immediately ran down the backside in pursuit. The Americans then slipped off.

Today Simon Parkes points out that an English bank just announced they are ending their credit card business. Parkes suggests that is due to the Central Banks requiring interest rates be dropped from around 20% to 1% in October. Last week we saw Wells Fargo cut off lines of credit in a similar manner. What is happening?

I suggest we are seeing the banks intentionally burying themselves by killing their credit card business to help collapse the economy. Once they are in control of the reset they can raise themselves from the dead and go back into business again when it again be profitable.

Folks, no matter who wins, the reset is coming on fast.

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