The European Union failed to consolidate debt when creating its European utopia. Policymakers are solely to blame for creating their debt crisis, and it is hard to believe that no one saw this coming. The creation of the euro and European Union was so poorly planned that it is another example of comedy writing itself.
The European Central Bank (ECB) has a major crisis beginning. The free markets always win, and the spreads on the interest rates among the member of the EU are widening for Greece and Italy. Fools are telling Lagarde to use stronger language to signal that divergences among the member states will not be allowed to take place. The borrowing costs of more vulnerable countries such as Italy and Spain cannot be contained.
When they were creating the euro, the Commission attended our 1998 London Conference — the same one when I warned that Russia was about to collapse. It was then when I had a discussion with them, warning that a single currency WOULD NOT produce the same interest rate for all.
All the talk was that a single currency would set a single interest rate. I tried in vain to explain that would never happen. They were comparing it to the US federal government and I made it clear that they were not consolidating all the national debts and this meant that there could be no single interest rate and the difference in the currency would be transferred to the bonds instead. They simply refused to listen because that was one of the selling points to get the euro going.
It did not matter, they just wanted the euro at all costs. Now we see the widening of the spread and one central bank cannot impose a single interest rate any more than the Federal Reserve can control the interest rates all 50 states must pay to borrow money. In the United States, Massachusetts has the highest debt per capita in the country at about $11,130 with a AA rating while Tennesse has the lowest at about $875 and has a AAA rating.
The ECB knows it is facing a nightmare. The ONLY possible solution is to consolidate all the national debts of the member states and that would then become federal. Only then could it possibly be on the same footing with the dollar. Back then, the Bundesbank was against the euro. They were feeding us all the notes of the meetings because they really could not come out and speak. The Bundesbank understood the potential long-term crisis, and they opposed the merger of national debts.
So here we go again. COVID set off the fuse; Ukraine is the time bomb about to explode. As the soothsayer warned: Caesar beware!
The Canadian National Post has reported on the rising concern that the World Economic Forum is making all the calls as to what the Canadian government should do. They admitted that this question has “gained remarkable currency among Canadian[s]” particularly since the events of the Freedom Convoy. While they concluded that the WEF is not controlling Canada, implying this insanity is all the brainchild of Trudeau, they admitted that “it’s not entirely crazy to jump to the conclusion that an international cabal of ultra-elitists is secretly pulling the strings on world affairs (particularly when they keep claiming as much).”
I recently finished another documentary where I was actually asked: “Would you debate Schwab?” I answered “Yes!” I explained that throughout my career, I have been butting heads with academics worldwide. The ONLY one I met who was actually interested in how the world functioned was Milton Friedman who I cherish his autographed photo I keep on my shelf – not a bust Lenin as is the case with Schwab, which really is on his shelf.
I was impressed with Milton Friedman who came to listen to me speak in Chicago. When I was finished, he came up and said: “Hello. I’m Milton Friedman. That was the best speech I ever heard.” I was probably the largest foreign exchange adviser in the world. That is what made my company so famous. I have told the story before that prior to 1985, I was in Geneva having lunch with the head of one of the major banks in Switzerland. I had prepared a list of names like European Advisers I was going to open an office in Europe. I asked his advice on what name to use. He told me to name one European analyst. I was embarrassed for I could not. I apologized and said I’m sure there must be, but I just did not know of any. He chuckled and said there were none.
He then explained to me how currency had become political so no analyst working for a bank would dare say that their currency would decline. That would have been a political statement against the government. After World War II, politicians used their rise in the currency as a political validation that their policy was correct and so vote for them.
He said to me, that the reason everyone uses you is that you “do not give a shit if the dollars goes up or down!” He explained to me why we had become so big on a global scale. As an American, saying the dollar would decline or rise was not a political assault upon the government. Nobody ran for office claiming the dollar was up against the Mexican Peso so vote for me! They would have e been laughed off the stage. It was another lesson in life that you cannot judge others by yourself.
As fate would have it, I had a client who was a senior VP at Franklin National Bank, which was once the United States’ 20th largest bank. Most people have no idea but in 1951, it was Franklin National Bank in Long Island, New York, that issued the first card that most resembles today’s general-use credit cards. For the first time, customers could purchase items and pay them off quickly or be charged interest if the debt carried over. Participating merchants had to pay a fee for each card purchase. By 1952, about 28,000 customers and 750 businesses had signed up for the card which eventually became the Mastercard. The concept started spreading that same year when a bank in Michigan licensed the charge card program from Franklin. The idea was so popular, that in 1958, American Express launched its first charge card.
On October 8, 1974, it collapsed in obscure circumstances, involving connections to the Italian Michele Sindona who was alleged to be a Mafia banker. It was at the time the largest bank failure in the history of the country. Because I knew futures and international finance, I was asked to take a look at the problem the bank had. The bank failed on a 10% move in the Italian Lira. Nobody seemed to understand international finance back then. Currency futures began trading on May 16th, 1972 following failed negotiations to reestablish a fixed exchange rate system. Thus being a trader, my client Walter Zenergle, asked if I could take a look at the problem. it was clear, that nobody yet understood about hedging risks except those of use who were traders.
The academics dealt in theory. Traders had to learn from their mistakes. After the failure of Franklin National Bank, it seemed that whenever there was an issue with currency, I seemed to get the call. When the Asian Currency Crisis hit in 1997, I was asked to come to Bejing to meet with the central bank. I was surprised that they had not called in some academic from Harvard. But went I got there, I discovered they had sent their people to work around the world on trading desks. They then returned to run the central bank. When I was asked by guys in the Fed and the US Treasury what was my impression of the Chinese central bank, I responded: “I was impressed. They only hired people with experience.”
The problem with academia has always been that it is entirely theory without any real-world experience. That is what impressed me about Milton Friedman. He came to listen to me speak to LEARN what was happening in the real world. Milton had said to me also that day, that I was doing what he only dreamed about. In 1953, he proposed a floating exchange rate system whereby the free markets would impose checks and balances against the policies of the government. Nilton has been the ONLY academic I have ever met that bothered to investigate rather than theorize as did Marx and even Keynes and certainly Schwab.
Unfortunately, Trudeau is listening to Schwab. Canada, Australia, and New Zealand as well as Europe are following the directive of Schwab. He is NOT in actual control. But the people running these political bodies are kissing his ring as if he is the godfather of economics.
For his weekly monologue Neil Oliver hits on a subject very near and dear to the heart of CTH. Mr. Oliver is making his acceptance known today, CTH has been making our acceptance of the reality known for over ten years; hence, the name “The Last Refuge.” The bottom line, governments now represent corporate interests – not people. The policy makers now consider the interests of the state, not the interests of the people.
Anyone who is still pretending, particularly post-COVID examples, that any western government is applying a principle of citizen representation to their policy is lying. There are many people still pretending government is designed to represent the people; however, their pretense is based on their inability to cope with the alternative. All around us are the signs showing traditional, representative, western government has collapsed. We are in this weird place where we pretend it hasn’t. WATCH:
[Transcript] – “If you cannot – simply cannot – understand what’s happening in this country and in the world now, I might have the explanation.
You may, at least until recently, have been labouring under the misapprehension that the State has your back – that those in power have your best interests at heart. Let me make it clear that I use the word State deliberately. These words are not directed solely at the Government, or even just Parliament – but at the whole edifice of those in positions of power – elected and not.
If like me you no longer believe the State has your back, it’s at least likely that you know, indeed are surrounded by, many that still do. You, or those around you, may still believe that decisions are being taken, plans set in place, by those at the top of the food chain, with a view to securing and perpetuating the world your ancestors worked for, in some cases gave their lives for. You or they may have thought that the indigenous culture of these islands, nurtured for a thousand years, was still held dear by those occupying positions of power and responsibility.
But no, as far as I’m concerned, that is no longer the case and hasn’t been the case for a good long while. Understand and accept this much, at least, and the otherwise bewildering sense of confusion goes away at once. It is such a relief.
So much of what is happening now – crashing economy; livelihoods destroyed; dismal care of physical and mental health; educations compromised or worse; a so-called green agenda prioritised at all costs and regardless of harms done by subsidies on bills – those subsidies that are the only, absolutely the only reason any private company ever raised a wind turbine, or invested in solar panels for British skies; VAT on fuel; spiralling costs of food and essentials; deliberately destructive setting aside of farmland and discouragement of farmers and farming as an industry in a time of global food insecurity.
Domestic and international travel made so problematic as to be hardly worth the bother; the looming prospect of digital IDs; the rise of digital currencies instead of money – all of these troubling realities and more – all of it makes sense once you apply the “Keep It Simple” principle.
What we are witnessing is no longer a State working to serve us and to protect our shared heritage, institutions, culture and way of life. Rather we are watching their deliberate destruction and dismantling ready for replacement with something else.
Many of those in place in our institutions – in government, in parliament, civil service, academia, even the Church – evidently loathe this country. It’s that simple. They loathe what this country has been; what, to some extent at least, it still is. Furthermore, they despise those who value what has been and who wish to see all of that conserved and handed on to future generations.
These islands are presided over now by idealogues committed to the wholesale demolition of what has been Britain and British, and its replacement with the product of some parasitic ideology shaped in their own image.
In times such as these, there is often an appetite for and calls for revolution. I would advise against such means. Revolutions are for the birds, always a disaster in the end. Revolutions devour their children, as a wise man said.
The preferable solution is to maintain all that is good, all that has served us well. Maintain the foundations of the old house and as much of the structure above as is still sound. Root out the rot and treat the woodworm, repair and replace what is broken, but keep as much as possible of what has stood the test of time, what has worked.
The bitter irony is that it appears that a revolution is indeed being planned – in fact has been long in the planning and is now being rolled out. In the past it was kings and nation states that feared revolution by the common people, the slaves. Now it is the State itself that is fomenting revolution, from within. The rot is at the core, at the heart. By contrast it is the people, we the people, who want the country and the culture and the heritage saved and who must therefore resist the State-sponsored revolution with all the strength we have.
We are told, by them, that pain is coming – and that that pain must be endured. Suddenly they’re all saying it at once, all over the world, yet another script parroted in unison – like Build Back Better – only worse. But that pain is for us alone, we the proles. Those with the money and power will glide above it all in their private jets, leaving in their wake contrails of CO2 that might as well scribble on the sky the message:
“Suck it up, peasants”.
They’ll push burgers made of bugs at us – while they sit down to Cote de Boeuf. We’ll have real pain and they’ll have champagne. We’ll have nothing. And they’ll be happy. Or so they like to think.
Again and again, I turn to the Keep It Simple philosophy – what some call Occam’s Razor. If it seems to make no sense that 30 million petrol and diesel cars might be replaced with electric alternatives powered by a non-existent infrastructure … that’s because the simpler explanation is that almost none of us are meant to have cars at all – electric or otherwise. If you wonder why in the US and here in Britain we are turning our backs on fracking and other sources of power under our feet and beneath our surrounding seas, it is because the intention is that we in the troublesome West should have much, much less energy available to us as ordinary people than before. The intention is not to go green. The intention is that we should go without.
As part of their revolution, the State is laying plans to hinder any protest or dissent. The so-called Online Safety Bill is nothing less than a whole new way to ensure the censorship and silencing of any who would challenge the hobbling of our rights and freedoms, our herding like cattle towards a digital slavery in which our every financial transaction, every communication, every movement, every meeting, every word, might be monitored in real time and also judged against a code of behaviour drafted by people we do not see and cannot know. We stand to be judged against standards set to curtail every aspect of our being and whenever it suits the State, we will be found wanting and punished as a consequence.
This is the weekend of the Platinum Jubilee. Jubilee is a word with an interesting back story. It has deep roots in the Hebrew word Jobel, which is a ram – or more specifically a trumpet made from a ram’s horn. In ancient times, thousands of years ago, the Jobel was sounded to announce the Year of Atonement – a regular event when all debts were written off, unconditionally and completely, thus freeing those who had been enslaved to rich people because they owed them money.
US economist Michael Hudson has written that as long ago as the time of the Assyrians, 4,000 years ago, it was understood that economies always became unstable, and ultimately collapsed, when too many people simply could not settle their debts to the rich, and through no fault of their own. The solution, understood and applied for thousands of years, was that periodically all debts had to be cancelled – this was a jubilee.
Jesus Christ understood the need to write off debt to save society. The older, Greek version of the Lord’s Prayer says, “forgive us our debts, as we forgive our debtors”. Only much later, when the Church had made it a matter of craven morality to repay every debt, were the words debts and debtors replaced with trespasses and trespassers. By then, the church was in cahoots with the rich. In his first sermon in the synagogue Jesus told the congregation he had come to bring a clean slate debt cancellation – what he called the Year of the Lord. This, the cancelling of otherwise unpayable debt to Rome and the Romans, was the basis of his message of hope to the downtrodden.
The economic mess we’re in now is not the fault of we, the little people, but of the banks and their ruinous recklessness in pursuit of obscene profit. In 2008 they got to write off their mistakes, with the help of eye watering amounts of taxpayers’ money, to cancel their debts. Those same banks don’t want to do the same for us, though. Far from it. The bankers and the rest of the super-rich elite want to foreclose on those in debt. When that happens, the rich elite will own everything, and we will own nothing. Sound familiar?
In this year of Jubilee, I would say we have a lot to learn from ancient wisdom – to remember that our ancestors knew the fight that mattered was to prevent the population falling into bondage to the elite, who wanted to own everything. I very much doubt that a jubilee for the people, an unconditional cancelling of all debt, is quite the great reset those of the elite have in mind. They need us to owe them, so that they own us. Bankers always say debts must always be paid, or there will be chaos. They would say that, wouldn’t they?
I’ve said it before and I’ll say it again – just because you’re paranoid doesn’t mean they’re not out to get you. This is the time of waking up and understanding that the state is not to be trusted – not anymore and not for a long time.
All of this is the stuff they used to call Conspiracy Theory. Call it as much if it blows your skirt up. I no longer care. In my book, those they call Conspiracy Theorists are more accurately described as the ones who saw it all coming.” (link)
In a deleted video posted on the World Economic Forum’s website, the group praised the lockdowns for offering a quiet atmosphere.
The dystopian post-apocalyptic setting certainly seemed quiet at times. Here is what the latest lockdown sounded like in Shanghai for those who have already forgotten:
The rumors keep flying that Putin has cancer and has a maximum of three years to live. The stories are claiming he is ‘losing his eyesight’ but all of this is unconfirmed coming reports in recent weeks have suggested the 69-year-old president’s health has been deteriorating quickly. Much of this propaganda from Ukraine has been talking about a coup and all sorts of stuff.
Our model does not show that Putin will run again in 2024. That year will be monumental for the US presidential election is then as well and even Zelensky, the WEF’s puppet, will stand for election. Why people are putting out this propaganda that somehow if Putin dies, Russia can be vanquished is total nonsense. The second tier behind Putin are far more nationalistic and will definitely use nuclear weapons whereas Putin is at least far more rational.
Putin did NOT invade Ukraine to conquer it. Even when the US attacked Iraq, the first thing you do is take out the power, communications, and then the water supply. Putin has done none of that has is doing what he said, defending the Russians in the Donbas. Crimea was always Russian and it was allocated to Kyiv (Russian: Kiev) by Khruschev in 1954 because (1) he grew up in the Donbas, and (2) he was in charge of Ukraine post-World War II and rebuilt it. It was his home.
The Eastern region of Ukraine was historically always Russian. Ukraine was created by the USSR – it did not exist as a country before. This idea put out by the Ukrainians that keep trying to paint Putin as dead or just put down a coup is all propaganda. Yes, he is sick. But this nonsense that somehow replaces Putin and Ukraine wins is tempting far worse a fate than anyone can imagine. The next level will be far worse and our model turns up sharply with civil unrest and war in 2023, but the worse is yet to come post-2024.
The world has been taken over by the “Greens” who want to destroy all fossil fuel production fearing that if the tide turns, they will lose this opportunity. We are seeing the same push from Germany, the United States, Australia, Canada, and New Zealand. The AGENDA IS TO ACTUALLY DESTROY THE CAPACITY TO PRODUCE and cause so much damage that no future administration will be able to restart what they have destroyed.
There is no rational agenda, They do not care if there is any alternative available now. Even pushing for electric cars that take up to two hours to recharge after a few hundred miles are not ready to replace everything. The power grid will never support it. Worse still, the #1 target in war is the power grid. If all transportation is electric, taking out the power grid will become critical and could render the defense of a nation impossible. Add to that the push for Digital Currencies by the central banks so the government will get every penny of tax by eliminating paper money. Takedown the power grid, and you will also wipe out the financial system.
There is no discussion with these people that is even possible. Unfortunately, this is most likely the fundamental behind what our computer has forecast the rise in a civil conflict which will no down lead to civil wars and revolutions.
The pieces are starting to come together in this grand plot to fulfill George Soros’ dream – One World Government. After Soros’ speech at Davos, there are a lot of people of all faiths flocking to a Catholic Church to light a candle and pray for the rapid death of this cantankerous ‘old codger’ who seems to want to take the world into World War III and perhaps like some Egyptian Pharoh, take as many people with him into the here-after. I wish I could say that Soros is just crazy. But I do not believe that is the case. He has harbored a dream of a One-World Government forever perhaps growing up in communism.
His theme is that “climate change is on the verge of becoming irreversible” and that we MUST defeat Putin is all supporting his One-World government with the United Nations at the head. History will remember Soros up there with Marx responsible for the deaths of up to 50% of the world’s population by 2040. He is spinning his propaganda that Putin and Xi must be removed from power and somehow the people will cheer and run into the arms of the United Nations where they can fall at the feet of George Soros and kiss his disgusting toes at this age.
Everything that Soros and the World Economic Forum have been doing is nothing but promoting war. Henry Kissinger said that Ukraine should surrender the Donbas to Russia. Indeed, that was the Minsk Agreement. Zelensky has refused to do so and would instead subject his citizens to endless war for territory full of Russian Ukrainians which they hate with a passion.
Zelensky won the election promising to (1) end corruption, and (2) end the civil war. His solution for the corrupt was just to take everything for himself. The amount of money he has stashed in offshore accounts is said to be at least $100 million and some report he is approaching $1 billion.
As for the war, he has refused to surrender the two provinces as the Minsk Agreement stated in 2014. He denies them the right to vote for their own future. The West refuses to acknowledge the vote of Crimes when in fact they are ethnic Russians and are hated by the Ukrainians. I can confirm that from the outset I head Crimea is Ukrainian or Crimea will be depopulated.
I have been sent videos taken from Ukrainian soldiers showing the torture they are submitting to Russians. I have refrained from posting them because they are so horrible. There are Russians being nailed to a cross and then set on fire alive. There are two soldiers who volunteered. One from Canada and one from France. Both have returned disguised telling about the war crimes they have watched the Ukrainians carrying out. Nobody wants to even admit that there are Ukrainian neo-Nazis.
Nobody wants to report the truth that Zelensky has even seized religion. The orthodox church no longer acknowledges the Patriarch of Moscow. This is a war of absolute hatred. The sheer level of war crimes unreported is off the charts. This is all being sanctioned to create World War III to ensure that the Russians look at the West with the same hatred that
This conspiracy is more than most suspect. It has been Bill Browder who was advised on confiscating all the assets of private Russia Oligarchs to destroy the world economy. Putin was NOT friends with all the Oligarchs. Yeltsin turned to Putin because he was the only independent person. He was not part of the Berezovsky group of the Seven Oligarchs and he was not part of the hardline Communists. Both those groups were against Yeltsin. Putin was selected to go against the Oligarchs. It was 1886 when Berezovsky created the “Davos Pact” of Oligarchs to fund Yeltsin’s campaign. It was also 1996 when Browder and Edmond Safra created Hermitage Capital Management to invest in Russia. Browder appeared with Soros I believe just last week in Berlin. Browder has been protected by the Democrats at every level.
Henry Kissinger spoke correctly at Davos and said Zelensky should surrender the Russian regions to Russia. Zelensky is told not to do so otherwise there is no confrontation for World War III. If Zelensky were truly concerned about his own people, then why fight for territory that was always occupied by Russians? It makes no sense except to sacrifice is own people to promote World War III to accomplish this agenda.
It is important to remember the ultimate goal of the ‘climate change’ promotors (World Economic Forum) is not an energy system that changes the global climate. The goal of the ‘climate change’ group is to create a carbon trading system; a new financial mechanism (a global tax program) to control human activity on a world-wide basis. This system also needs a digital identity in order to work {hint-hint}.
You cannot tax or trade things you cannot track. As a result, there was always going to be a need for an individual tracking and monitoring system that would connect to the global digital identity and determine the carbon footprint. The carbon taxing and trading system will be more financially lucrative than any stock exchange or monetary banking system. It is the ultimate human control mechanism, and the preferred way to redistribute wealth under the guise of global equity.
Of course, the system will beta test as a consumer demand product until the government steps in to take over the allocation and distribution equity part. In this video segment, Alibaba Group president J. Michael Evans boasts at the 2022 World Economic Forum about the development of an “individual carbon footprint tracker” to monitor what you buy, what you eat, and where/how you travel. WATCH:
The individual carbon tracker is the baseline for a global carbon trading system that involves everyone; at least, everyone connected to the outlook of western government.
Carbon allocation creates the financial metric that replaces currency. You buy and sell carbon credits allowing you to engage in specific functions within society, like dining, traveling, home ownership and type, vehicle or transportation type, even the clothes you can purchase. Hence, “carbon trading” is the term most people are familiar with.
In essence, you are a parasite to earth; therefore, you must offset your derogatory footprint on the planet by paying a fee to exist. If you cannot pay for the carbon credits needed to engage in the transaction (travel, home ownership, cooling, heating, etc.) you cannot engage in the regulated activity.
The carbon exchange process is at the end of the slippery slope created by a digital identity. The 5G telecommunications network is designed to use geolocation and behavioral tracking that will connect your digital identity to your individual behavior and facilitate the carbon footprint tracing process. We are already passed the “if” stage.
May 23, 2022 | sundance | 274 Comments
Australia has an eSafety Commissioner named Julie Inman-Grant. While delivering remarks to the World Economic Forum summit in Davos, Switzerland, she outlined a new on-line era where free speech would need to be “recalibrated,” and the ability to be free from something called “on-line violence.” WATCH:
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For the past several years we have noted a progressive, totalitarian, shift in speech, specifically a redefinition of the word “violence.” Speech the leftists do not like, they call violence; and violence the leftists support, they call speech. As a result, the overlay of a newly recalibrated on-line world for speech and violence would be modified accordingly.
Speech the Big Tech consortium would define as against their views would be considered on-line violence and thus controlled by the governmental guardians of the internet like the eSafety Commissioner. As you can see in the video below, “violence” now includes their perception of something happening on a metaphysical level. An emotional impact. They have a spiritual avatar that they feel the drive to defend from the viewpoints of the Others.
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