Category Socialism doesn’t work because you run out of others peoples money

Mar 14 2024

Canada to Incorporate Social Scores in Banking


Posted originally on Mar 14, 2024 By Martin Armstrong 

Debanking

The Canadian banking system is set to be radicalized by open banking framework. Proponents are framing this as a way for banks to easily share information and access user data. The truth of the matter is that this is an opportunity to merge social standings with banking to provide government complete control over our finances.

The organization Open Banking Excellence, a World Bank partner that originated in the UK, claims that it will host all of a bank’s relevant needs in one place. The organization, which has reached 40 countries, aims to “create exceptional platforms and content that promotes knowledge sharing, new thinking and partnerships within the industry – catalysing the adoption of Open Finance and Data for better financial inclusion worldwide.”

CBDC Cover

“It’s about having that fairer, more inclusive, more open society,” said Helen Child, founder of Open Banking Excellence. Open Society, well, that does sound familiar. Why is there a need for inclusivity and fairness in banking when it should come down to numbers? “It drives financial inclusion,” she added, “It’s democratizing data.”

Data. That will be worth more than gold as we move forward with a cashless society. There is no easier way to control the masses than to control their access to money, their ability to buy, trade, and freely move about. The Canadian Press outlined the true motive in plain sight: “One of the biggest areas of growth is in credit assessments. Under open banking, lenders could directly access an individual’s banking data, so they can look beyond credit scores. Consumers can also use it to build their credit scores, for example, by proving reliable rent payments.”

Looking beyond credit scores equates to determining if a person is fit to participate in the global economy based on their personal views. Look at what happened to Nigel Farage. He never committed a crime or did anything to warrant what many have called the “Farage fiasco.” Nigel was suddenly debanked by Coutts and was unable to access any of his checking or savings accounts. His credit cards were deactivated. He was unable to participate in society without a moment’s notice.

Nigel Farage 2019 WEC

Farage did his due diligence and found that there were countless people who experienced the same financial attack carried out by the banks on behalf of the government.

This is a widespread phenomenon. We saw it happening commonly during COVID lockdowns, where users were not permitted to access places if their digital COVID passports failed. In China, when banks were facing a liquidity crisis, the CCP simply denied depositors the right to access their money and blocked them from physically accessing their banks. The government successfully prevented a bank run. We saw a few celebrities debanked from the system for voicing unpopular opinions without any legal proceedings or crimes committed.

Canada is one of many nations hoping to use unofficial social scores to control the masses. All of these actions are setting the stage for how CBDC will operate, a collective network containing everyone’s personal data and accounts. Governments have already begun debanking individuals and these steps will make it increasingly easier to force the masses to bow down and relinquish all control to the almighty government.

Dec 21 2023

Homelessness at All-Time High in World’s Wealthiest Nation


Posted originally on Dec 21, 2023 By Martin Armstrong 

Homeless

Homelessness has reached a new high in America, the wealthiest nation in the world. The 2023 Annual Homeless Assessment Report compiled by the Department of Housing and Urban Development (HUD) revealed that over 650,000 Americans have nowhere to call home. The number of homeless individuals spiked by 12% from 2022; worse, homelessness levels are now at 16% for families with children.

“HUD data indicates that the rise in overall homelessness is largely due to a sharp rise in the number of people who became homeless for the first time,” the report found. The number of people who became “newly homeless” rose 25% from 2021 to 2022. The number of people previously homeless declined by 8%.

Around 49% of the homeless population is within the state of California. New York saw the largest uptick in homelessness after rising an astounding 42% (25,185 human beings) from 2022 to 2023. Of the major US cities, New York City (88,025), Los Angeles (71,320), and Seattle (14,149) have the largest homeless populations.

HUD speaks extremely highly of the Biden-Harris Administration and its efforts to combat homelessness in the report. HUD primarily blames housing affordability for the crisis, stating that new construction on government-assisted living properties funded through the American Rescue Plan will help get people off the streets. What the report fails to mention is that you must have next to nothing to qualify for government assistance.

Numerous assisted living plans require an individual to earn less than 100% of the Federal Poverty Level. The federal poverty level (FPL) in the United States varies based on the number of individuals in a household and the state of residence. For instance, the 2023 FPL for a household of one is $14,580, and for a family of four, it is $30,000. If a minimum wage worker held a full-time job at $7.25 per hour and worked 40 hours per week, they would earn $15,080 and exceed the poverty level.

hoovervilles 1930s 23

People basically must completely exit the workforce and rely entirely upon the government to qualify. There are countless Americans sleeping in their cars or couch surfing who work respectable jobs and contribute to our society. People are moving in with their parents well into their adult years, and the Baby Boomer generation is nearing retirement and must rely on rapidly dwindling savings. People have begun calling tent cities “Bidenvilles” as a nod to the shantytown “Hoovervilles” during the Great Depression.

We are seeing society separated into the “haves” and “have nots.” The average American is either successful enough to live paycheck to paycheck and make ends meet or utterly dependent on government.

This is all by design. They cannot usher in 15-minute cities and Guaranteed Basic Income (GBI) if everyone is thriving. Every time you hear of a new spending package for a foreign nation, remember that your neighbor, who has paid taxes all of his or her life, is likely a few missed paychecks away from homelessness.

Dec 5 2023

Socialism – Where Starving People Break into Zoos to Eat the Animals


Posted originally on Dec 5, 2023 By Martin Armstrong

Venezuela.Socialism

There is a rumor going around that people under socialism faced such severe food shortages that they were forced to break into zoos and eat the animals. Unfortunately, this is a fact. Reports were circulating in Venezuela of people consuming zoo animals around 2016 and 2017. The animals that remained in these zoos starved to death or ate one another. The people were in such dire conditions that they were forced to consume dogs, cats, decaying meat, and anything else they could find.

Thatcher Socialism

Hugo Chávez is celebrated as this social justice warrior for eliminating capitalism in the 2000s. Socialism does not work because the system eventually runs out of other people’s money, as Margaret Thatcher once proclaimed. We only need to look at recent history to see the severe consequences of switching to this system. Venezuela first reported that they had a “nutritional emergency” in February 2016.  President Nicolás Maduro also declared an “economic emergency” in January of the same year, providing him the power to rule by decree. Inflation was running at 141.5%, according to Venezuelan authorities, but the IMF believed the figure reached 270% in 2015 and had the potential to reach 500% by the end of 2016.

Similar to how central banks and Treasury Secretaries downplay inflation today, the talking heads denied anything was wrong. The socialists claimed that acknowledging the food shortages could lead to American intervention, and Maduro consistently blamed US sanctions for his nation’s failure. As reported by a Spanish newspaper, this is how the average person waiting for their food rations: “Five hours in line to buy a chicken; kicks, pushes, and blows of all kinds to be one of the fortunate ones to enter the supermarket and get away with a bag of flour or rice, basic goods that Venezuela does not have available to everyone, unfortunately.”

Maduro told the people to grow their own food and gloated that he too was producing his own eggs and produce. The government owned the grocers and the food production companies, and stepped in numerous times to shut down any intervention by the private sector. Politicians take no responsibility for the suffering endured under their policies, and this is precisely what a portion of the West is fighting to implement today.