Part 3: The Electronic Prison Camp
When I talk about the war on cash and a cashless society, some people think I’m exaggerating the threat or they don’t take it seriously. But I’m not exaggerating the threat. It’s here, it’s growing and it’ll only get worse. Today I’ll show you the latest example. The proponents of the cashless society cite convenience as a major benefit. Why bother having to tote a bunch of cumbersome cash and coins around when you can just swipe a card or pay with your smartphone? Besides, they say, cash enables criminal activity on the black market. Cash is the money of crime. And in some respects, they’re right. Swiping a card or scanning your smartphone is certainly easier than having to get cash from a bank or ATM and lugging it around in your wallet, dealing with change, etc. If you eliminated cash and replaced it with digital money, it would impact the black market (though they’d figure out a workaround).
Meanwhile, cash is costlier to produce than digital money and unlike with cash, you don’t need to hire a Brinks truck to move digital money around. No more bank robberies! And that’s why the war on cash has been so successful. Digital money is simply more convenient to use than cash.And the surest way to lull someone into complacency is to offer a “convenience” that quickly becomes habit and impossible to do without.
But here’s what they won’t tell you, as I’ve warned time after time: You’re being herded into what I call a “electronic prison camp” from which there’s no escape. The fact is, governments always use money laundering, drug dealing and terrorism as excuses to keep tabs on honest citizens and deprive them of the ability to use money alternatives such as physical cash, gold and, these days, crypto-currencies. The real burden of the war on cash falls on honest citizens who are made vulnerable to wealth confiscation through negative interest rates, loss of privacy, account freezes and limits on cash withdrawals or transfers. In reality, the so-called “cashless society” is just a Trojan horse for a system in which all financial wealth is electronic and represented digitally in the records of a small number of megabanks and asset managers. Once that is achieved, it will be easy for state power to seize and freeze the wealth, or subject it to constant surveillance, taxation and other forms of digital confiscation like negative interest rates. They can’t do that as long as you can go to your bank and withdraw your cash. That’s the key. Cash prevents central banks from imposing negative interest rates because if they did, people would withdraw their cash from the banking system. If they stuff their cash in a mattress, they don’t earn anything on it; that’s true. But at least they’re not losing anything on it. Once all money is digital, you won’t have the option of withdrawing your cash and avoiding negative rates. You will be trapped in a digital pen with no way out. In other words, it’s much easier for them to control your money if they first herd you into a digital prison. That’s their true objective and all the other reasons are just a smoke screen. Again, that’s the part they won’t tell you.
The good news is that cash is still a dominant form of payment in many countries including the U.S. The bad news is that as digital payments grow and the use of cash diminishes, a “tipping point” is reached where suddenly it makes no sense to continue using cash because of the expense and logistics involved.
Once cash usage shrinks to a certain point, economies of scale are lost and usage can go to zero almost overnight. Remember how music CDs disappeared suddenly once MP3 and streaming formats became popular? Once the war on cash gains that kind of momentum and we’re really not that far from it, it will be practically impossible to stop.
Central Bank Digital Currency – The Trojan Horse
CBDCs are a form of money issued by central banks or the Treasury in digital-only form. It’s true that most payments today — credit cards, direct deposit, ATMs, online shopping, etc. — are already digital.
But there’s a difference. All the digital payments we have today are private. They’re between you and your bank or the online store. The government does not see that information at the individual level unless they get a warrant.
That’s not true for CBDCs. With CBDCs, the government controls the ledger. They see everything you buy, your charitable contributions, your political donations, your entertainment choices, your travel and more. When that information is combined with geospatial location (from the GPS data on your iPhone, E-ZPass toll transmitters and license plate scanners) and analyzed by artificial intelligence applications, it’s easy to develop a political profile of you. Based on that profile, the government can decide you’re an “enemy of the people. Once you’re on the enemies list, CBDCs can be used to freeze your bank accounts. Some Americans have been relieved that CBDCs have not been fully implemented yet and members of Congress and some governors such as have stood up against them. That’s true.
“But the authoritarians never take no for an answer. When you close one channel, they find another. Here’s an example… Citibank (which is entirely under the government’s thumb because of the many bailouts it has received) has announced what they call Citi Token Services (CTS). With CTS, you convert your regular dollars into digital tokens. These tokens can be used to move money or make payments around the world. Citi calls this a “tokenized deposit.” Notice the term “CBDC” is not used anywhere. But that’s what it is. Once you convert your dollars to digital tokens, you don’t have dollars anymore. Citi controls the ledger under the government’s thumb. They have complete information on all transactions.
This is a CBDC by another name. It’s not coming; it’s already here.
The time to protect yourself is yesterday — and if not yesterday, then today. The best way is to keep a portion of your wealth outside of the banking system. That’s why I urge you to keep some of your liquidity in physical gold and silver. Preparation of the most alarming development in the history of money has been quietly underway for decades. If allowed to be implemented it will enable independent central banks to dictate what and how much each citizen can spend, can cut his funds if they decide someone is violating a policy dictate such as the green agenda or vaccine mandates. It will enable total top-down dictatorship by the money masters of our existence.
An operation that began as a seemingly obscure academic discussion ten years ago is now becoming a full-blown propaganda campaign by some of the most powerful institutions in the industrialized world. This is what rightly should be termed the War on Cash. Like the War on Terror, the War on Cancer or the War on Drugs, its true agenda is sinister and opaque. If we are foolish enough to swallow the propaganda for complete elimination of cash in favor of pure digital bank money, we can pretty much kiss our remaining autonomy and privacy goodbye. George Orwell’s 1984 will be here on steroids.
Let me be clear. Here we discuss not various block-chain digital technologies, so-called crypto-currencies. We are not addressing private payment systems. Nor do we discuss e-banking or use of bank credit cards such as Visa or Master Card or others. These are of an entirely different quality from the goal of the ongoing sinister war on cash. They are all private services not state.
What we are discussing is a plot, and it is a plot, by leading central banks, select governments, the International Monetary Fund in collusion with major international banks to force citizens — in other words, us!—to give up holding cash or using it to pay for purchases. Instead we would be forced to use digital bank credits. The difference, subtle though it may at first seem, is huge. As in India following the mad Modi US-inspired war on cash late in 2016, citizens would forever lose their personal freedom to decide how to pay or their privacy in terms of money. If I want to buy a car and pay cash to avoid bank interest charges, I cannot. My bank will limit the amount of digital money I can withdraw on any given day. If I want to stay in a nice hotel to celebrate a special day and pay cash for reasons of privacy, not possible. But this is just the surface. This July, Visa International rolled out what it calls “The Visa Cashless Challenge.” With select buzz words about how technology has transformed global commerce, Visa announced a program to pay selected small restaurant owners in the USA if they agree to refuse to accept cash from their customers but only credit cards. Obviously, they believe it will advance use of Visa cards in a market that until now prefers cash—the small family restaurant. The Visa “challenge” to achieve what it calls the “100% cashless quest” is no casual will-o’-the-wisp. It is part of a very thought-through strategy of not only Visa, but also the European Central Bank, the Bank of England, the International Monetary Fund and the Reserve Bank of India to name just a few.
In March this year the International Monetary Fund in Washington issued a Working Paper on what they call “de-cashing.” The paper recommends that, “going completely cashless should be phased in steps.” It notes the fact that there already exist “initial and largely uncontested steps, such as the phasing out of large denomination bills, the placement of ceilings on cash transactions, and the reporting of cash moves across the borders. Further steps could include creating economic incentives to reduce the use of cash in transactions, simplifying the opening and use of transferrable deposits, and further computerizing the financial system.”
In France since 2015 the limit a person may pay in cash to a business is a mere €1000 “to tackle money laundering and tax evasion.” Said with other words, if you are forced to use only digital money transfers from a bank, the governments of virtually every OECD country today have legal access to the bank data of their citizens.
In 2016 the European Central Bank discontinued issuing €500 bills arguing it would hinder organized crime and terrorism, a poor joke to be sure, as if the sophisticated networks of organized crime depend on paper currencies. In the US, leading economists such as former Harvard President Larry Summers advocate eliminating the $100 bill for the same alleged reason. However, the hidden agenda in this War on Cash is confiscation of our money in the next, inevitable banking crisis, whether in the EU member countries, the United States or developing countries like India. Already several central banks have employed a policy of negative interest rates alleging, falsely, that this is necessary to stimulate growth following the 2008 financial and banking crisis. In addition to the European Central Bank, the Bank of Japan, the Danish National Bank adheres to this bizarre policy. However, their ability to lower interest rates to member banks even more is constrained as long as cash is plentiful. Here the above cited IMF document lets the proverbial cat out of the sack. It states, “In particular, the negative interest rate policy becomes a feasible option for monetary policy if savings in physical currency are discouraged and substantially reduced. With de-cashing, most money would be stored in the banking system, and, therefore, would be easily affected by negative rates, which could encourage consumer spending…” That’s because your bank will begin to charge you for the “service” of allowing you to park your money with them where they can use it to make more money. To avoid that, we are told, we would spend like there’s no tomorrow. Obviously, this argument is fake.
As German economist Richard Werner points out, negative rates raise banks’ costs of doing business. “The banks respond by passing on this cost to their customers. Due to the already zero deposit rates, this means banks will raise their lending rates.” This is because negative rates are imposed by the central bank on the banks – not the borrowing public.
Why Now?
The relevant question is why now, suddenly the urgency of pushing for elimination of cash on the part of central banks and institutions such as the IMF? The drum roll for abolishing cash began markedly following the January 2016 Davos, Switzerland World Economic Forum where the western world’s leading government figures and central bankers and multinational corporations were gathered. The propaganda offensive for the current War on Cash offensive began immediately after the Davos talks.
Several months later, in November, 2016, guided by experts from USAID and, yes, Visa, the Indian government of Narenda Modi announced the immediate demonetization or forced removal of all 500 Rupee (US$8) and 1,000 Rupee (US$16) banknotes on the recommendation of the Reserve Bank of India. The Modi government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism.
If we connect the dots on all this, it becomes clearer that the war on cash is a war on our individual freedom and degrees of freedom in our lives. Forcing our cash to become digital is the next step towards confiscation by the governments of the EU or USA or wherever the next major banking crisis such as in 2007-2008 erupts.
As governments, whether in the EU or in India or elsewhere refuse to rein in fraudulent practices of its largest banks, forcing people to eliminate use of cash and keep all their liquidity in digital deposits with state regulated banks, sets the stage for the state to confiscate those assets when they declare the next emergency. If we are foolish enough to permit this scam to pass unchallenged perhaps we deserve to lose our vestige of financial autonomy. Fortunately, popular resistance against elimination of cash in countries like Germany is massive. Now, let’s look at the source of this diabolical nonsense. And that is called the – – –
The Bank Of International Settlements
Adam LeBor’s book “Tower of Basel” sheds a useful light on how this process works, by telling the story of the Bank for International Settlements, known more commonly by its acronym, BIS. His book presents a detailed picture of the relationships between the Nazis and top international financiers, and the intelligence agencies. Along the way, we meet the leaders of the Bank of England, the titans of Wall Street, British and American spooks, and other financiers and industrialists, all of whom collectively made Hitler and Mussolini possible, and unleashed horror upon the world.
A Bank Above Nations
The BIS was founded in 1930, nominally for the purpose of handling the reparations payments imposed upon Germany after World War I. The founding members of the bank were the Rothschild-owned central banks of Britain, France, Germany, Italy, and Belgium, with Japan and the United States each represented by a consortium of domestic banks. In the U.S., the consortium consisted of three banks: J.P. Morgan & Co., the First National Bank of New York, and the First National Bank of Chicago – all 3 were(at that time) in the Rothschild orbit. The driving forces behind the founding were the Rothschilds.
The deeper motive behind the founding of the BIS, the creation of the bank as a base from which to create a new form of what was euphemistically called “transnational finance.” The Rothschild Empire were laying the foundation for what became the globalized financial system of today, a system of financier-run corporate cartels and markets which is essentially a rerun of the methods of the British East India Company, combined with modern technology.
Under the treaty which founded the BIS, the bank was granted virtual sovereignty—although under the circumstances, it might be more accurate to say that it was granted immunity from the sovereignty of others. No nation was to have any say over how the bank conducted its affairs, nor would their laws apply. Although the BIS is located in Switzerland, it is exempt from Swiss laws, and Swiss authorities cannot enter its premises without permission. “The BIS enjoys similar protections to those granted to the headquarters of the United Nations, the International Monetary Fund (IMF), and diplomatic embassies. … The BIS has the right to communicate in code and send and receive correspondence in bags covered by the same protection as embassies, meaning they cannot be opened.” “The bank’s extraordinary legal privileges also extend to its staff and directors.”
The central bank governors traveling to Basel for the bimonthly meetings enjoy the same status while in Switzerland. All bank officials are immune under Swiss law, for life, for all the acts carried out during the discharge of their duties. This protected position was carefully crafted. If your goal were to take control of nations and incorporate them into a new corporatist dictatorship, you would take steps to protect against counterattack by the targets.
An Oligarchic Cabal
As a conduit for war reparations payments, the BIS was explicitly set up to work with Germany, as the Nazis were coming to power. But the Nazis were themselves a tool of the 2 families. The Brits and the Dutch provided financial and political aid to the Nazi Party, as did their allies on Wall Street. The Morgan networks pumped money into Germany and Italy, aided by the Rockefeller interests, the Warburgs’ Kuhn Loeb, the Brown Brothers Harriman crowd, and Prescott Bush, whose son and grandson each became President of the United States.
The BIS served as a conduit to the banking and corporate interests on both sides of the war. New York banks led the way in raising money for Germany in the 1920s, as did the City of London. This is just a sample of the interlocking financial and business arrangements. Right in the middle of this nest were the Dulles brothers(maternal cousins of the Rockefellers) of the Wall Street law firm Sullivan & Cromwell, which represented a Who’s Who of Wall Street, including J.P. Morgan, Kuhn Loeb, Brown Brothers, the Harriman interests, Goldman Sachs, and the Rockefellers as it was their private law firm. . John Foster Dulles was a fixture at the international conferences which established the post-World War I order. His brother Allen Dulles was the OSS station chief in Switzerland during the war, and later became head of the CIA, while John Foster became Secretary of State under President Eisenhower. Nationalities were irrelevant. The overriding loyalty was to international finance.
Globalization of Finance
The founding of the BIS, was the culmination of the Rothschilds’ decades-old dream, to have their own bank—powerful, independent, and free from interfering politicians and nosy journalists. Most of all, the BIS was self-financing and would be in perpetuity. The BIS became a linchpin of the Rothschild Empire’s plan to establish an economic and political dictatorship over all of Europe, and use it as a base from which to attack the United States.
This scheme, which would produce the European Union and the single-currency Eurozone, would be augmented by the announcement, at the Bilderberger meeting in 1968, of a “world company” project to replace the “outmoded” nation-states with corporate management, as the vehicle to rule the world; and by the 1971 formation of the Inter-Alpha Group of Banks (a Rothschild entity), to push “transnational” finance. The BIS helped create the European Central Bank (ECB), as well. The ECB grew out of the European Monetary Institute, whose president, Alexandre Lamfalussy, had been general manager at the BIS.
Today, the BIS is heavily involved in the battle over financial regulation. The overriding line is that global problems require global solutions, and that the best way to provide those global solutions is with supranational agreements under which national regulations give way to global ones. Global solutions which, it should be obvious at this point, work for the benefit of the international banking crowd, not the general public.
Once again, this small interlocking cabal of imperial financiers and elitists is protecting their own interests, and hanging the rest of us out to die. One of the peripheral themes in the BIS is the involvement of the spooks, leading with Allen Dulles of the OSS, with mention also of Sir Frank Nelson, the British consul in Bern who later became chief of the Special Operations Executive. This collusion between the bankers and the spooks represents what used to be called the “Bankers’ CIA,” reflecting the way the 2 families financial and intelligence arms work together.
Most people have heard the story of the Rothschilds’ intelligence network, which provided the bank with information on events large and small before it was generally known. Reflect on that, as you consider the NSA surveillance operations, in which, under the thin guise of hunting for “terrorists,” the spy apparatus has been turned against the public. We have seen many cases where this surveillance/police-state apparatus has been used to catch drug dealers and other small-time crooks, but there is a void when it comes to catching the crooks of Wall Street. The Fed is, after all, the U.S. arm of the apparatus represented by the Rockefellers and the BIS. It is the chief protector and co-conspirator of the 2 families who are imposing austerity upon the people, replacing government with corporate-style governance, and stealing us blind to save the collapsing financial system.
BIS is an opaque, elitist and anti-democratic institution, out of step with the twenty-first century. It is shaping the regulatory future of global finance and calls for good governance, yet its own affairs are firmly hidden behind a thicket of legal immunities and protections.Why the need for secrecy? “Central bank governors can go there and talk freely, complaining about their ministers of finance and politicians, with no concern that this will leak to the public,” said former BIS staffer Stefan Gerlach, who is now chief economist at EFG Bank in Zurich.
BIS was set up in Basel in 1930 to ensure that Germany paid financial compensation (reparations) to the victors of World War I. That mission was only partially completed as reparations were later abandoned, with Germany lurching into economic chaos. This somewhat ill-fated start to life – combined with evidence that BIS had been pliable to German demands during World War II – led to the United States calling for BIS to disband in 1944. BIS survived as a largely European-focused entity until the mid-1990s, when the central banks of other countries, including emerging economies, started playing a more active role.
BRICS & THE BIS
The BIS is also called the Central Bank of all Central Banks. It controls in monetary volume well over 90% of the world’s central banks. The Bank of China – the C of the BRICS – has recently become a member of the BIS. The Wall Street Journal comments, “China’s membership in the BIS Club, is a real Revolution”.
The BIS members are central banks of 63 jurisdictions: 34 in Europe, 16 in Asia, 5 in South America, 3 in North America, 3 in Africa, and 2 in Oceania. The United States is represented by two members, the United States Federal Reserve System and Federal Reserve Bank of New York. Even the Russian Central Bank is a member of the BIS but its engagement with the BIS has been suspended since early March 2022 – since the onslaught of western sanctions due to Ukraine. All BRICS Central Banks are members of the BIS. In other words, the two founders of the BRICS are closely linked to the totally dollarized BIS.
This dollar-based western monetary system – the Euro is the small and younger brother of the dollar – is backed by nothing, other than thin air, and its revered institutions such as the International Monetary Fund (IMF) and the World Bank, are drowning the world, especially the Global South, in unsustainable debt under false pretenses; debt which most these countries will be unable to pay back. Instead, they will become increasingly enslaved to the west, politically as well as in terms of resources exploitation. They receive money (debt) they really do not need, so they belong to the glamorous organizations that exploit them, but also give them the doubtful reputation and international credit rating of “belonging” – being worthy of the IMF and the WB – and some regional development banks that pursue the same goal.If they do not belong to these predatory organizations, they have a hard time surviving in the western monetary and banking system. It is all an agreed and well-orchestrated game plan. Of course, it takes corruption on both sides. Corrupted politicians in so-called developing countries having been put in place by fake elections, making sure the wheels keep spinning.
Take the current President of Brazil, Lula da Silva, in his two previous terms as President (2003 to 2011), his Central Bank President was Henrique Meirelles, a Wall Street Banker. Meirelles was president of FleetBoston Financials’ Global Banking. Lula was literally praised by Wall Street as a “good boy”. The IMF gave him the attribute of a good scholar. And that was before he became a scholar of Klaus Schwab’s (CEO of WEF) Academy for Young Global Leaders (YGL). Lula is also a favored at the WEF’s Davos meetings. Today, the Central Bank of Brazil is a full and key member of the BIS.
A high-level City of London insider and whistleblower apparently warned not to be distracted by this ‘deceptive initiative’ [called BRICS] of making believe, it will find ways of breaking free from the usury-based and criminal central banking cartel. When, in fact, the BRICS bloc was set up some 14 years ago (BRICS creation in 2009) to simply foment the necessary arguments, chaos and division needed to pursue and fast-track a single global digital currency, what in today’s parlance is called Central Bank Digital Currency (CBDC).
In his book, “A History of Central Banking – and the Enslavement of Mankind”, the late Stephen Mitford Goodson, himself a Non-Executive Director of the South African Reserve Bank from 2003 until 2012, and who witnessed at first hand the private central banking system from the inside, wrote: “For any nation/state/society/community to have full sovereignty and independence in its affairs, absolute control over the means it employs to exchange goods and services must reside with the organs which represent the people, and must not be delegated to private individuals – – – “
“Throughout recorded history, periods of state control of the money supply have been synonymous with eras of prosperity, peace, cultural enrichment, full employment and zero inflation. However, when private bankers usurp control of the money creation process, the inevitable results are recurring cycles of prosperity and poverty, unemployment, embedded inflation and an enormous and ever-increasing transfer of wealth and political power to this tiny clique who controls this exploitative monetary system. Whenever these private and central bankers have been opposed in the past by nations seeking restoration of an honest money system, these parasitic bankers have invariably invoked a “patriotic” war in order to defeat the much maligned “enemy”. This has been a feature of almost all wars during the past 300 plus years.”
This says it all in a nutshell. The so-called “central bank of central banks,” the Basel, Switzerland-based Bank for International Settlements (BIS), has warned again of a bank crash from corporate over-indebtedness in the advanced economies, it added a kicker: “ – – – borrowing by firms with low credit scores is growing alarmingly, especially in U.S. and U.K.” This is in reference to 100s of zombie companies = 40% of the S&P 500!! If these companies were barely surviving at 1 % interest rates, then, how will they survive when interest rates are at 5% and heading higher? And, this, at a time when input costs are rising- in energy and food.
The BIS adds that even though major banks insist they own only the safest tranches of the collateralized loan obligations (CLOs) made up of these over-leveraged corporate debts, those major banks are in danger of being hit by large numbers of defaults in these sectors. This is coming closer with the global recession underway. The big London and Wall Street banks also thought they were playing it safe with the collateralized debt obligations (CDOs) made up of sub-prime mortgage securities in the 2004-07 period, keeping only the AAA or AA-rated tranches of those CDOs. When the mortgage securities bubble imploded, banks lost a fortune. The major Wall Street bank holding companies and their investment banking and speculative units have continued to defraud and steal, as ever when poorly regulated.
With national finances spiraling out of control, debt traps are being sprung on all of them. Governments, businesses and individuals are being exposed by the rise in interest rates, increases which are driven by a combination of declining faith in the value of major currencies and contracting bank credit. The rise in interest rates is becoming unstoppable.
The era of interest rate suppression is over. G7 central banks are all deeply in negative equity, in other words technically bankrupt, a situation which can only be addressed by issuing yet more unproductive credit. These are the institutions tasked with ensuring the integrity of the entire system of bank credit. This is not a good background for a dollar-based global credit system that is staring into the black hole of its own extinction.
There are a number of events coming together that suggest we are about to undergo a major upheaval in world economic, financial, and monetary affairs. It’s like one of those bush fires, which you fight in front of you, only to find that suddenly the flames are behind you as well, then on your right and your left. It becomes so hot that things are spontaneously combusting all around you and there is no escape. This is the condition currently faced by central bankers.
Accelerating demand for credit to pay higher interest rates is meeting a growing reluctance to lend. And to top it all, an alliance of Russia, the Saudis, and Iran are deploying control of the global oil supply. The last thing the world needs is another war in the Middle East. And now we look like having that as well.
The transition from the global status quo is bound to be a difficult affair. Some foreign governments appear to be liquidating their US Treasury holdings to protect their own currencies. With US bond yields rise from here, US equities are due for a significant crash. In that event, with financial asset values falling there can be little doubt that foreign investors will be reducing their exposure dramatically. This is why irrespective of central bank policy, the shortage of credit is driving borrowing rates higher, and the cost of debt is rising, if the credit is actually available — which increasingly is rarely the case. And it has only just started. The world of fiat currencies has become destabilized by extreme interest rate suppression, inflationary excesses, unproductive debt creation, and massive government debt overhangs.
The entire G7 banking system is broken.
A further problem arising from the excesses of the past is that the entire banking system from central banks downwards is in dire straits. Central banks that implemented QE did so in conjunction with interest rate suppression. The subsequent rise in interest rates has led to substantial mark-to-market losses, wiping out their equity many times over when realistically accounted for. Central banks claim that this is not relevant because they intend to hold their investments to maturity. However, in any rescue of commercial banks, their technical bankruptcy could become an impediment, undermining faith in their currencies.
As the reserve currency for the entire global fiat currency system, the dollar and all bank credit based upon it is likely to be the epicenter of a global banking crisis. If other currencies weaken or fail, there could be a temporary capital flight towards the dollar before a wider financial contagion takes over. But if the dollar fails first, all the rest fail as well. The global financial and economic system is “dollar-centric”. The condition of the US banking system is therefore fundamental to the global economy. But there are now signs that not only is US bank credit no longer growing but it is contracting sharply.
The big picture is of an asset bubble which has come to an end. And by any standards, this one was the largest in recorded history.
Geopolitics and Gold’s Renaissance
The fiat currency problem is likely to be made more immediate by a new factor of nearly four billion people rapidly industrializing under the leadership of China and Russia. China and Russia have accumulated significant quantities of gold, and by gold mine output is the world’s largest by far. The prospect of the Asian hegemons returning to gold standards is bound to draw attention by contrast to the weaknesses and fallacies behind fiat currencies.
The likelihood of a dollar collapse is being enhanced by the string of failed US foreign policies. Iraq, Syria, and Afghanistan are on the list, with other ventures, such as the collapse of Libya creating refugee havoc for Europe. It appears that Ukraine is a lost cause as well. And now, the Western alliance is swinging behind Israel in her attempt to bomb Gaza and destroy the Palestine resistance, so that the gas field off-shore Gaza can be legally stolen.
Any objective analysis indicates that US involvement is very likely to bring Hezbollah into the conflict, which involves Syria and Iran. There are US assets in Syria and Iran, which would then become a target for Iran, and Iran can easily block the Straits of Hormuz, The evidence is to the contrary, with America and Britain sending aircraft carriers into the Eastern Mediterranean, and Russian Mig fighters patrolling the Black Sea in striking distance of the Western alliances’ carriers.
What has changed is Muslim unity, fused together even more by Israel’s collateral damage against Palestinian citizens. Both Sunni and Shia Muslims, representing two billion people are now united against the Western alliance and its culture. The US’s policy of divide and rule is no longer appropriate.
US foreign policy is in tatters. If it presses ahead to reassert its dominance over the Middle East by getting involved militarily, the US will lack the support of former regional partners, and inevitably the threat to oil supplies will divide her NATO partners. If she decides not to get involved, that will confirm to the Middle East and the Global South that her days as the global hegemon are over.
City of London and Wall Street Oligarchy Is Organizing a Deep, Green Depression
The banking oligarchy of the City of London and Wall Street intend to carry out an economy- crushing lockdown of energy production, productivity and productive employment regardless of who now has been elected President of the United States.
The financial giants on Wall Street put out the line before Election Day: What will determine the economy after the election is what the Federal Reserve will do. The biggest Wall Street bank, the $2.5 trillion JPMorgan Chase, gave the game away in an analysis for its clients Nov. 2: We’d like to see another COVID lockdown, it said, because it would give the Fed the signal for more quantitative easing (“QE”), more money-printing for the financial markets. “Although it has had a negative impact in the short term, the re-emergence of lockdowns and resultant growth weakness would bolster the equity [stock market] upside over the medium to longer term, by inducing more QE and thus more liquidity creation.”
A suffering, shut-down economy and people; booming stock and securities markets. That is what Wall Street and City of London financial elites plan post-election, while fearing that President Donald Trump may turn on them and break them up as he would break up the discredited military-intelligence complex. In more detail, here is what the financial oligarchy intends to do:
• Have the Federal Reserve and European Central bank accelerate “QE” so the big banks will receive trillions more in “liquidity,” like the $6 trillion monetary expansion by those central banks during late 2019 and 2020;
• Withdraw credit from the real economy, as they did during the sorry year of 2020—the big banks’ deposits and assets boomed, their lending to businesses and households shrank; bank credit, right now, is tightening to the levels of 2008”—the global financial crash: Bank lending to small businesses, outside of the emergency government aid programs, has slowed to a trickle and may soon completely freeze. The same is happening across the European economies and to the developing nations;
• Carry out what they started, in 2019, to call a “regime change,” by having the big central banks take control of spending by governments, and thus dictate “relief” measures for economies locked down by COVID;
• By Spring and summer 2024, seven of the biggest central banks plan to start issuing “central bank digital currencies” directly to households, businesses and agencies. Central bank digital currencies are the instrument for “regime change” not only to control government spending, but against the U.S. dollar as an international reserve currency as well.
Their stated purpose: To create inflation. Their real purpose: To keep interest rates at zero or below zero indefinitely, doing away with saving and productive investing and eventually doing away with commercial bank lending altogether;
• Carry out the City and Wall Street’s “great reset”—a global shut-down of all investment in coal mining and coal power, and gradual shut-off of the spigot for oil and natural gas investment. Instead, they’ll pour funds into a gigantic new financial bubble called “the green new deal” in the United States and “the green deal” by the European Union.
• Waste tens of trillions collected from taxpayers on the throwback “power” technologies of wind, solar, biomass, etc.
During dismal, pandemic locked-down 2020, these financial oligarchs have steered a world economy with 600 million newly unemployed people, bringing the world total unemployed and mis-employed to some 1.6 billion. Seven million have starved to death in famine conditions in Africa and South Asia and 30 million more are marching toward starvation now.
For the new “finance” bubble they want, these bankers and financiers love the pliant and corrupt Joe Biden. Now we come to the heart of the matter.
These are their plans. If it works, then these 2 families have bought more time. If it does not, then expect them to crash the stock markets, close the banks down, and then after a period of time has passed, and the people are becoming ever more desperate, introduce the CBDC’s.
The story continues in Part 4-Running Out of Options-wherein we discuss the options left to these 2 families, and their hysterical moves to hold onto their fast declining global empires.
