Wars made Rome. Wars expanded the country’s borders and brought it wealth, but they also sowed the seeds of its destruction, especially the three big wars against Carthage, 264-146 BCE.
Rome began as a republic of yeoman farmers, each with his own plot of land. You had to be a landowner to join the Roman army; it was a great honor, and it wouldn’t take the riffraff. When the Republic was threatened—and wars were constant and uninterrupted from the beginning—a legionary might be gone for five, ten, or more years. His wife and children back on the farm might have to borrow money to keep things going and then perhaps default, so soldiers’ farms would go back to bush or get taken over by creditors. And, if he survived the wars, an ex-legionary might be hard to keep down on the farm after years of looting, plundering, and enslaving the enemy. On top of that, tidal waves of slaves became available to work freshly confiscated properties. So, like America, Rome became more urban and less agrarian. Like America, there were fewer family farmers but more industrial-scale latifundia.
Paul Joseph Watson:
These big banks have every reason to try keeping Italian banks afloat.
Europe has plenty of reasons to be worried these days, but none more so than the seemingly terminal decline of the old continent’s banking system. So fragile are Europe’s banks that they can’t even get through an ECB stress test — whose primary purpose is to restore confidence in Europe’s banking system, by ignoring two of the most insolvent national banking sectors (Greece and Portugal) as well as the main source of stress (negative interest rates) — without sparking a panicked sell-off.
Before the test, UK-based Barclays predicted that any bank found to have a core capital ratio of less than 7.5% would come under pressure. There was no shortage of candidates, including, ironically, Barclays itself, which made it through the stress scenario with a core capital ratio of just 7.3%. The bank’s shares have fallen by about 5% since Monday.
Need to buy more votes...
Jason Burack of Wall St for Main St interviewed returning guest, former Wall St bond trader, gold fund manager, paid newsletter writer and the co-host of the Shadow of Truth podcast, Dave Kranzler.
An interesting, but extremely important piece of news fell through the cracks earlier this week, that has the potential to be one of the most powerful attacks on the dollar’s reserve currency status since 1973. And it appears to be happening using the West’s own mechanism against them.
On Aug. 1, China announced that around the 1st of October they will be internationalizing the IMF’s Special Drawing Right’s (SDR) currency for global use in trade, thus placing the currency basket in play for nations to use instead of the dollar.
Twitter has finally verified my account with the little blue verified badge, and liberals are really upset about it. Here’s what some of them are saying!
I just listened to Obama give Washington’s account of the situation with ISIL in Iraq and Syria.
In Obama’s account, Washington is defeating ISIL in Iraq, but Russia and Assad are defeating the Syrian people in Syria. Obama denounced Russia and the Syrian government—but not ISIL—as barbaric. The message was clear: Washington still intends to overthrow Assad and turn Syria into another Libya and another Iraq, formerly stable and prosperous countries where war now rages continually.
It sickens me to hear the President of the United States lie and construct a false reality, so I turned off the broadcast. I believe it was a press conference, and I am confident that no meaningful questions were asked.