Daniel Estulin: “About ten or eleven years ago, I saw a phrase in one of the Bilderberger reports, and they literally talk about “Demand Destruction”. I didn’t understand it at the time (…) until about three years ago (…) I saw the same phrase again in the Club of Rome report and shortly after in the Bilderberg report. And then it was on the CFR.org web page.
So I asked a friend of mine in the World Bank, I said: “What does it mean – Demand Destruction?”
He said: “You destroy the demand by destroying the world economy.”
I repeat what I said: You destroy the demand by destroying the world economy. Now you’re better to get it straight. What you are witnessing right now is being done on purpose by the most powerful people in the world. Just as 1929 wasn’t a great depression – it’s certainly great, it certainly wasn’t a depression – it was simply a transfer of wealth. (…) That is what is being done right now. The wealth is being transferred from US to THEM. And you’re seeing this right now. Demand destruction is part of it” – excerpt from a rough transcript of the following video:
Daniel Estulin on the Economy – Demand Destruction – Nov 25, 2008
Eatulin: Bilderberg “planned wholesale destruction of the planet (Spain–2007)
“For decades, the IMF and the World Bank have used the cover of development and restructuring to plunder and loot the developing world. Now, as these institutions begin to set their sights on the struggling economies of Europe and other developed countries, , economics professor and Global Research editor Michel Chossudovsky breaks down the true history of the economic crisis and the international financial structure.” (1)
Michel Chossudowsky: Economic Collapse and Neoliberal OnslaughtGlobalResearchTV (2012-08-15)
*Related Info: What is the Baltic Dry Index?
The Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides an assessment of the price of moving the major raw materials by sea.”
Why economists and stock market investors read it
Most directly, the index measures the demand for shipping capacity versus the supply of dry bulk carriers. The demand for shipping varies with the amount of cargo that is being traded or moved in various markets (supply and demand).
The index indirectly measures global supply and demand for the commodities shipped aboard dry bulk carriers, such as building materials, coal, metallic ores, and grains.
Because dry bulk primarily consists of materials that function as raw material inputs to the production of intermediate or finished goods, such as concrete, electricity, steel, and food, the index is also seen as an efficient economic indicator of future economic growth and production. The BDI is termed a leading economic indicator because it predicts future economic activity.
On 20 May 2008, the index reached its record high level since its introduction in 1985, reaching 11,793 points. Half a year later, on 5 December 2008, the index had dropped by 94%, to 663 points, the lowest since 1986; though by 4 February 2009 it had recovered a little lost ground, back to 1,316.These low rates moved dangerously close to the combined operating costs of vessels, fuel, and crews.
By the end of 2008, shipping times had been already increased by reduced speeds to save fuel consumption, but lack of credit meant the reduction of letters of credit, historically required to load cargoes for departure at ports. Debt load of future ship construction was also a problem for shipping companies, with several major bankruptcies and implications for shipyards.This, combined with the collapsing price of raw commodities created a perfect storm for the world’s marine commerce.
- UK’s oldest shipowner to close – FT.com
- World’s Oldest Shipping Company Closes in Industry Slide -Bloomberg
- Financial Meltdown: The Greatest Transfer of Wealth in History – by Ellen Brown – 2008-10-17
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