We have issued a special report on the Sovereign Debt Crisis and why we even have this Great Reset and where we are headed. This report provides also a historical review of previous sovereign debt defaults and what was the outcome. Some people try to claims that this is the precursor to revolution. That only reveals that they are engaging in sophistry for that is by no means the routine outcome. There have been serial defaults by many nations even in Europe such as Spain and Greece. The Roman Empire never had a national debt. So those claiming the debt default produces revolution is just not true. Historically, there were no pension funds and rarely were there social programs before the Great Depression. We have to set the record straight in order to truly understand what lies ahead.
QUESTION: Are the central bankers really behind this digital currency? Will that end the dollar as the reserve currency?
Thank you for sharing your experience.
HV
ANSWER: No the central bankers are NOT the instigators. It was Christine Lagarde who when at the IMF was threatening counties they would be blocked from Swift if they did not give up all those who had accounts in these tax havens. Germany went as far as to violate Swiss law and paid bribes to bankers to leak the records of the firms they worked for, which not even Hitler went that far. The entire digital currency idea was pushed by Christine Lagarde while at the IMF. But look closely, she is also a board of trustee member of Schwab’s World Economic Forum along with the new head of the IMF Kristalina Georgieva. It was Schwab who got Legarde put into the IMF and then he put her in the central bank. He then had Georgieva put into the IMF.
People who always point to the central bankers really do not know what is going on behind the curtain. Schwab is in league with Bill Gates and George Soros. Gates was pushing the digital currency at the United Nations. Melinda Gates was pushing the digital currency at the G20. It was Gates directing Modi to cancel the currency in India and he did so without ever telling the central bank in advance!
All this nonsense that we are moving to this digital currency system that will dethrone the dollar is just laughable. The three main elements that are the reason why the dollar is the reserve currency has been
the US never canceled the currency,
there are no capital-controls so anyone can issue bonds in dollars worldwide, and
the US has the world’s largest consumer economy which has funded the rise of China, Russia, Japan, and Germany along with all of Europe.
A digital currency does not override any of that. China knows what is unfolding and they are doing two main strategies that will impact the dollar long-term – not short-term.
They are building their own consumer economy to reduce reliance on the West
They are developing their digital currency to REPLACE the Swift system
This conspiracy against the central banks has been going on a long-term and to me, it just seems to be a diversion to keep people looking in the wrong direction. I have worked with more central banks around the world than probably any independent analyst/adviser. I do not talk about theory – it comes from experience!
A number of people have asked for a confirmation of the array analysis. Here you can see that the Turning Point was November, and then we have Jan/Feb. Not that we have back-to-back Directional Changes in November and December. Whenever the Directional Change aligns with the Turning Point, that is a very important combination indicating a significant target. Volatility will start to rise in December and scale into a Panic Cycle by next June.
Many people have asked WHAT is behind the fact that gold declined and Bitcoin rallied. It appears to be the same trend that we saw coming out of China. It is not that Bitcoin is better than gold, as many are asking, but it seems to be a means to move money across borders outside of simple bank wires. With the world in absolute chaos, forget hyperinflation. There is a far greater risk of the government canceling currencies and they want to cancel the debt. They have reached the end of the rope and what is left is about to break. This wild theory of hyperinflation is just not plausible. They cannot keep finding by borrowing. This is what the Great Reset is all about — altering the entire system because it is about to collapse anyway.
Global debt is exploding thanks to the deliberate COVID-19 manufactured crisis. It is approaching $280 trillion going into year-end. We should no longer call it even debt because at this point, they are just creating the money and the central banks are buying it. Moreover, there is ABSOLUTELY no intention whatsoever to pay back anything.
Here is Trudeau, PM of Canada, who completely misrepresents the debt, and refuses to answer the question simply saying interest rates are at historic lows. They have created this crisis in order to default on the debt using the Coronavirus scam as their excuse. I cannot stress enough, GET OUT OF ALL GOVERNMENT DEBT ON ALL LEVELS – PERIOD!
Meanwhile, Trudeau has committed Canada to the World Economic Forum’s Agenda 2030.
COMMENT: I admit I have been a gold bug and I bought into Bitcoin. I have been following Socrates since you began forecasting Bitcoin. I want to say that it has convinced me that these fundamental forecasts are just like fake news. When Socrates said gold would decline and then Bitcoin would rise, that made no sense but it was right. All they talk about is how hyperinflation will take place when the dollar loses its reserve status. Socrates is a real gift to us all. I think it is time to take it public to fight these Silicon Valley terrorists trying to change our future.
FK
ANSWER: Socrates just calls the shots as they unfold without bias or predetermined philosophy. I think what you have noticed between gold and bitcoin is interesting. Buffett sold his bank shares and first moved to gold shares. Warren Buffett’s Berkshire Hathaway bought a stake in Barrick Gold in the second quarter. The total stake in Barrick Gold was worth about $564 million. Then Buffett sold 9 million shares of ABX trimming the position 44% from Q2. Buffett also sold off Wells Fargo (WFC), JPMorgan Chase (JPM), PNC Financial Services, and M&T Bank, according to reporting by Yahoo Finance. The company also dropped its entire position in Costco.
Buffett, along with Bloomberg, is one of ABC News’ the “Super Rich Friends” and forget about his buying into gold and then selling it out. More importantly, he has been liquidating the bank stocks. This is what I have been warning that BigTech is moving in to replace banks. Don’t forget that Gates resigned from Berkshire to try to hide his influence from investment decisions behind Buffett. It has been Bill Gates calling for 10 more weeks of back in April lockdown! Bill Gates resigned both from Microsoft and Warren Buffet’s boards. It has been Bill Gates pushing to eliminate paper money and move digitally.
This is a coordinated effort with the World Economic Forum taking the visible lead. This is how all MANIPULATIONS take place. One person is upfront and gets all the press like Soros and the British pound. But there is a group with all the same positions. When the Long-Term Capital Management Crisis hit in 1998, it turned into a global liquidity crisis BECAUSE they all had the same position – Russian bonds. This is Klaus Schwab up front but all of BigTech is right behind him. Schwab has been cultivating heads of states to sell his Stakeholder Economics. He is an elitist and destroying the world economy to rebuild it from scratch in his mind is perfectly fine just hand out a guaranteed basic income as they are doing in the UK and in Canada to stay home.
QUESTION: Will debt forgiveness only be for government entities at all levels or will it include private businesses and private citizens as well? If it will be for all, then why not go out now, take out a loan, buy something (i.e. car) with the loan, sit back and wait for the debt to be forgiven, and one has just acquired a new item at very little expense (one may have to lose loan admin fees and a few months of loan payments in the process)?
IS
ANSWER: The agenda is you will own nothing and be happy. That means they take everything you own from property to pensions & 401K, and in return, they eliminate all your debts – so you will be happy!
Those who own their own home lose. But if we ran out and took a mortgage, they would take the cash. These are very clever people and governments are behind it because they can no longer pay their national debts and they cannot sell more. They are racking up the expanded money supply to cover costs with no intention of having to really pay for anything. Listen to Trudeau how he refuses the questions. Pretends their will be an economy and that interest rates will never rise.
Bill Gates is a very clever man. He knows how to create monopolies and was forced to resign from Microsoft to prevent its breakup. He has been doing far more than just pushing for lockdowns and vaccines. He has also been funding the media to slant the news and scaremongering for COVID. The Telegraph has been one of the most aggressive to lock people down in Britain. So many people I know in Britain no longer even trust the BBC. Indeed, the GatesFoundation awards $20 Million to BBC World Service Trust. A five-year, $20 million grant awarded to the BBC World Service Trust by the Bill & Melinda Gates Foundation in December blurs the lines between funding for traditional media and public education, the Seattle Times reports. Again, this is to push for the issue of health and explains their support for COVID lockdowns. Gates has also handed money to ABC News in the USA and NPR.
It’s now so obvious…but no one has more to gain with the lockdown(and more to lose with its lifting) than Big Tech.
The lockdown destroyed small and medium sized business, especially those that are in private hands. These were the real target of the lockdown…private property….collapse these businesses and you go at the heart of capitalism…private ownership. Once these were closed by government edict, the agencies then took control and put in place procedures that ensured these companies could never cope with the cost and layer of compliance required…lacking scale and financial resources, many simply closed for good. That was the goal all along. And remains so until only large businesses remain, those that will bend to the will of Government and profit from this reduced competition. And large tech companies are in a unique position to exploit this vacuum because they can become the single source providers of everything…and dictate time and price, point of sale…everything.
Which explains why they have the most to lose from lifting the lockdown, because now everything has been priced into their stock…and their CEO’s are not useful idiots but willing accomplices of this dark arrangement with those working in bureaucracy to further their push into everyone’s life…so, if you want to travel, get used to testing, tracking and vaccines…these carriers took money from govt and now the govt calls the shots…whenever you take money from govt, they own you. Same with big tech…now they are locked in tight to ensure that everything reported by the media via Twitter and Google states that the virus is here to stay and people nee to get used to it…the election gives them a perfect opportunity to trial run so many new initiatives that require we stay locked in and vote by mail…next comes electronic voting from an ap controlled by Apple.
This is pure evil. And why Tech must be broken up.
MS
REPLY: There are a lot of people beginning to question that Big Tech has been conspiring with this Great Reset assuming they will fall within Klaus Schwab’s Fourth Industrial Revolution so they will be fine. They will certainly make fortune from tracking devices, swapping to digital currencies where they hope to replace the banks for if you OWN nothing, you will also have no bank account and banks will no longer be lending and since governments will adopt Modern Monetary Theory, they will no longer need the banks to sell their debt since there will be none.
When we look at the major bank stocks, the ONLY one to peak with the Dow was J.P. Morgan. When we look at Deutsche Bank and HSBC, they peaked back in 2007 reflecting their problems. Goldman Sachs peaked in 2018. Behind the curtain, there is pressure not to bail out the bankers again. This is especially true in Europe. This leaves the idea of Schwab as very, very attractive, and therefore crushing the economy and forgiving all debt so you will OWN NOTHING would allow then to forgive all outstanding debt and you then just rent the place where you live. There are major holes in this theory, but those aside, this explains why Big Tech will replace the banks.
Big Tech has a lot at stake and they are censoring everything to try to push Biden into the White House so they can cash in on their chips. The mainstream media is also on board and they ever force Glen Greenwald to resign. That did not happen even with Snowden. I recommend you watch the movie Snowden to provide some background.
National Economic Council Director, Larry Kudlow, discusses the third-quarter economic GDP result and the indicators for the fourth quarter. Kudlow nails this one with a blend of empirical economic data and industrial manufacturing ground reports.
Keep in mind today’s excellent GDP growth result was despite a big part of the U.S. economy intentionally being kept closed by blue state politicians as part of a COVID weaponization strategy. Additionally, the travel, hotel and hospitality sector is severely hampered…. yet the overall economy is booming despite that. [See previous post]
The inventory factor is a big part of the predictive value for the fourth quarter, and hearkens back to my earlier notation about this holiday season being short of products to meet a retail consumer demand (buy early). Also, tip bigly those workers within the hospitality industry that are working; create an organic infusion of relief money.
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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