I’ve been beating this drum for awhile, seemingly to no avail, but maybe in light of current events it’ll sink in a little, so once again:
In 1999, under Clinton, the Glass-Steagall act of 1933 was repealed.
The act prevented financial institutions from speculating with their depositor’s money—a response to the perception that commercial and investment banking had become too intertwined leading up to the 1929 stock market crash—that banks had taken undue risk with depositors’ savings in the financial markets or were promoting the securities they underwrote to their customers, leading to conflicts of interest.
“Speculation raged in the wake of this abundant cheap capital, much as a global casino would be abuzz if everyone gambled using someone else’s money.”
Fast forward just a few years later: The crash of 07/08 was caused by the collapse of a $700 trillion derivatives bubble. Central banks around the world had to pump trillions into the economy to paper it over. Millions of people lost everything, while those doing the speculating prospered enormously.
“Derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.”
~ Warren Buffet
But after the 07/08 collapse, nothing changed. No legislation was introduced, nobody was prosecuted for the heist, nothing was done to prevent the industry from returning to the casino—with our money.
So, they continued…
(I’ve written of this here my blog: Banks Are Gambling With Our Money, And The Mother Of All Busts Is Coming, Oct 2019)
As a result, as of March 9, 2020, the derivatives bubble was re-inflated to $1.4 quadrillion—or twice that of 07/08! (And that was over 3 months ago!) When this mother of all bubbles collapses, it’ll make the crash of 07/08 look like a walk in the park. And they likely won’t be able to create enough fake money to paper this one over.
Skeptical? Watch this video:
And obviously, they know what’s coming. So they needed a scapegoat, on which they could blame the coming world-wide Greater Depression, so they don’t all end up meeting the guillotine or swinging from trees.
Hey – how about a fake pandemic?
(Plus, the Dems desperately want Trump out of office, so they can retake power—and economic collapse during his term has the potential of accomplishing that…but I digress).
In his recent article The Depression Dominoes Are Toppling, Charles Hugh Smith states:
“The pandemic lockdown will be blamed for the Greater Depression, but the lockdown only toppled all the dominoes that were already lined up. The lockdown would have been survivable if the economy hadn’t been over-indebted, over-leveraged, burdened by insanely high costs, stripmined by greedy monopolies, dependent on stock market fraud, destabilized by extreme inequality, corrupted by political pay-to-play and addicted to speculation.”
“Since the top 5% own the lion’s share of the nation’s productive assets—stocks, bonds, business equity, investment real estate, etc.—the enormous asset bubbles have greatly boosted their wealth and income. This has enabled the wealthy to service their debt or pay it off. The bottom 95% aren’t quite so well-placed to survive a decline in income.”
“Once you allow your economy to become dependent on extremes of debt, leverage, inequality, legalized looting, monopoly, pay-to-play politics and speculative asset bubbles, a depression is inevitable. The only question is “when,” and that’s been answered, though nobody wants to hear it: 2020 and beyond.”
So yes, as Smith states, the coming global Greater Depression will be blamed on the fake pandemic, or “plannedemic”, rather than the real cause: “peak” government (massive, unsustainable wealth transfer from the people to the ruling elite), the Federal Reserve & other central banks, and the global financial/banking cartel.
And unfortunately, the deception seems to be working…
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