The Federal Reserve Cartel: A Financial Parasite https://t.co/4pxBFA3Z6o via @grtvnews
— Komrade Deplorable (@astroloupicus) May 13, 2023
Banking cabal
https://www.zerohedge.com/news/2023-05-06/us-dollar-sovereign-debt-endgame
BY QUOTH THE RAVEN
SATURDAY, MAY 06, 2023 – 5:25
Submitted by QTR’s Fringe Finance
The regional bank crisis is continuing on, or ahead, of schedule. Not wanting to live in an echo chamber – but also mindful of the fact that I’m in the minority with how I think about the economy – I wanted to have a long-form discussion with two of my friends, Andy Schectman and Larry Lepard, to discuss the state of the U.S.
We talked about the blowoff valve for the economy – something I wrote about days ago – as gold and precious metals.
“When we take out 2100 with authority, it’s game on,” Larry says. “That’ll be a clear historical breakout. When that occurs, we’re going to squirt up to 2500 or 3000 very quickly.”
“Where else do you go beside gold and silver? Yes I own a precious metals company, but I try to be objective. Where do you go in the system where rising rates inversely affect stocks and bonds?” Schectman asks.
“The blowoff valve is the value of the currency and the easiest measure of that is gold,” Lepard adds.
We also discussed the regional banking crisis. “How is it that anyone isn’t freaking out that the Fed is basically bailing out the FDIC? The FDIC is, in essence, insolvent,” Andy Schectman asked me. “They’re going to blow up the regional banks.”
“Everyone is leaving the regional banks because Janet told us they won’t be safe”
We also discussed the state of the Fed and the global economy.
“The Fed is really playing with fire with this tight monetary policy. They are solving the problem in the short term but compounding the problem in the long term. They’re going to be forced into yield curve control,” Larry adds. “The next QE will take the Fed’s balance sheet from $9 trillion to $25 trillion.”
“Hyperinflation occurs when everybody becomes convinced that there is no way out other than printing the currency,” he adds. “I think it’s kind of inevitable. Everyone can read the signals and the signals are going to be there.”
We talked about how the BRICS nations are trying to move away from the U.S. dollar. “When you look at countries that have expressed interest in joining BRICS, they all have substantial gold holdings,” Andy told me about the global economy. “The numbers are increasing among those who want to join, there’s over 60 countries they have lined up in a queue [to join BRICS].”
“I do believe it’ll be a Sunday night. OPEC, the BRICS nations, Saudi Arabia – they come out and say on a Sunday night, we’re taking other currency for oil – and everything blows up Monday morning. It’s a tsunami of dollars,” Andy concluded. “The pieces are being put into place right now. Nobody is going to have time to react.”
“Why the hell would Central Banks be buying more gold now than ever? They’re frontrunning. They don’t care about the technicals, they’re using the Western suppression of gold prices to de-dollarize. What does that look like when the world completely sheds dollars because they no longer need them to buy oil?”
We also discussed:
- the end of the U.S. dollar’s dominance
- the geopolitical divide taking place
- gold & silver markets and manipulation
- politics into 2024
- banking collapses & equity markets
- the future of Bitcoin & crypto
You can listen to my full interview with Larry and Andy on Spotify here, Apple Podcasts here, and streaming on YouTube here:
Larry manages the EMA GARP Fund, a Boston based investment management firm. Their strategy is focused on providing “Monetary Debasement Insurance”. He has 38 years experience and an MBA from Harvard Business School. And he likes to curse. On Twitter he is @LawrenceLepard
Andy is the President & Owner of Miles Franklin Precious Metal Investments. Prior to starting Miles Franklin, Ltd. in 1989, Andrew became a Licensed Financial Planner, specializing in Swiss Franc Investments and alternative investments. At Miles Franklin Ltd., a company that has eclipsed $5 billion in sales, Andrew has developed an operation that maintains trust, collaboration, and ethical behavior, superior customer service and satisfaction to better serve their clients. He is responsible for overseeing the firm’s operations and business functions; including strategy and planning, account management, finance, and new business. He is andy@milesfranklin.com on email.
QTR’s Disclaimer: I am not a guru or an expert. I am an idiot writing a blog and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning and generally trade like a degenerate psychopath. This is not a recommendation to buy or sell any stocks or securities or any asset class – just my opinions of me and my guests. I often lose money on positions I trade/invest in and I’m sure have lost more than I’ve made in my time in markets. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. Positions can change immediately as soon as I publish this, with or without notice. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. Also, I just straight up get shit wrong a lot. I mention it three times because it’s that important.
Contributor posts published on Zero Hedge do not necessarily represent the views and opinions of Zero Hedge, and are not selected, edited or screened by Zero Hedge editors.
http://theeconomiccollapseblog.com/on-the-verge-of-a-banking-industry-apocalypse/
by Michael Snyder
May 4, 2023
Every time that they tell us that everything is fine, things just seem to get even worse. This banking crisis was supposed to be “over” after Silicon Valley Bank and Signature Bank collapsed. It wasn’t. Then it was supposed to be “over” after First Republic collapsed. It wasn’t. By now, most of you already know about what has been happening to PacWest, Western Alliance, First Horizon and countless other regional bank stocks. In all my years, I have never seen banking stocks fall so quickly. If this avalanche continues to pick up momentum, pretty soon we will have to stop talking about a “banking industry crisis” and start talking about a “banking industry apocalypse”.
Ironically, I think that CNN has actually summarized the current state of affairs better than anyone else…
A summary of where things stand in the banking crisis:
The Fed: “Banks are fine.”
The Treasury: “Banks are fine.”
The banks: “We’re fine.”
Wall Street: “Everybody sell, the banks are on fire!”
On Thursday, PacWest released a carefully worded statement that was supposed to calm investors down…
Our message remains consistent with what was conveyed last week with earnings. As previously announced, the Company has explored strategic asset sales, including moving the $2.7 billion Lender Finance loan portfolio to held for sale in 1Q23. This planned sale remains on track and upon completion will accelerate our CET1 capital ratio to 10%+ (from 9.21% at 1Q23). Additionally, in accordance with normal practices the Company and its Board of Directors continuously review strategic options. Recently, the Company has been approached by several potential partners and investors – discussions are ongoing. The company will continue to evaluate all options to maximize shareholder value.
But instead, this statement sparked a massive wave of panic and the stock dropped more than 50 percent…
The rout in regional banks picked up steam again on Thursday morning, with several stocks suffering sizeable losses.
PacWest sank 50.6% was halted for volatility multiple times. The slide began on Wednesday evening following news that the Los Angeles-based bank was exploring strategic options, including a potential sale.
Western Alliance was down 38 percent even though it pushed back very hard against a report by the Financial Times that indicated that a sale of the bank was being explored…
Western Alliance is exploring strategic options including a potential sale of all or part of its business, the Financial Times reported on Thursday citing two people briefed on the matter.
The Arizona-based bank has hired advisers to explore its options, the report added, saying the bank’s deliberations were at an early stage and might not come to anything.
And shares of First Horizon fell 37 percent when the market opened after their merger with Toronto-Dominion Bank fell through…
First Horizon Corp. shares plunged 37% at the cash open in New York, the most significant decline since September 2008.
Bloomberg reported First Horizon held a conference call earlier today, seeking to calm investors after the merger agreement with Toronto-Dominion Bank was “terminated.” The regional bank said it has ‘stable funding’ and adequate capital.
Those are the three big names that are dominating the headlines right now, but there are many more institutions that are teetering on the brink of insolvency.
In fact, one recent study determined that “186 more banks are at risk of failure”…
After the demise of Silicon Valley Bank and Signature Bank in March, a study on the fragility of the U.S. banking system found that 186 more banks are at risk of failure even if only half of their uninsured depositors (uninsured depositors stand to lose a part of their deposits if the bank fails, potentially giving them incentives to run) decide to withdraw their funds.
So what is the bottom line?
The bottom line is that things are bad, and now that the Fed has decided to raise interest rates again they will soon get even worse.
At this stage, very few banks are truly safe. Depositors continue to pull money out of the system, bonds that are held by these banks continue to lose value, and more loans are going bad with each passing day.
This banking crisis is far from over.
In fact, it is just beginning.
Yesterday, Bill Ackman warned that our entire regional banking system “is at risk”…
The regional banking system is at risk. SVB’s depositors’ bad weekend woke up uninsured depositors everywhere. The rapid rise in rates impaired assets and drained deposits. Zeroing out shareholders and bondholders massively increased the banks’ cost of capital. CRE losses loom. Meanwhile, higher-yield, more user- friendly alternatives beckon @Apple.
The @FDICgov failure to update and expand its insurance regime has hammered more nails in the coffin. FRB would not have failed if the FDIC temporarily guaranteed deposits while a new guarantee regime were created. Instead, we watch the dominoes fall at great systemic and economic cost.
Banking is a confidence game. At this rate, no regional bank can survive bad news or bad data as a stock price plunge inevitably follows, insured and uninsured deposits are withdrawn and ‘pursuing strategic alternatives’ means an FDIC shutdown over the coming weekend.
He is mostly correct.
But I will quibble with him on one point.
Even if all deposits in the system are fully guaranteed, a lot of people will still be pulling their money out.
As Zero Hedge has aptly noted, many wealthy individuals are transferring funds from checking accounts that yield next to nothing to money market funds that pay around five percent…
People are not moving their money because of deposit loss fears: everyone already knows unlimited insurance is guaranteed, especially in blue states; they are moving because it takes 30 seconds to transfer from a 0.01% yielding checking account to a 5.1% money market.
The Federal Reserve could help the banks by cutting interest rates.
But that isn’t going to happen anytime soon.
So brace yourselves for more bank failures.
Prior to the collapse of First Republic, Gallup conducted a survey that asked Americans if they are concerned about the money that they have in the banking system.
These are the results…
Amid turbulence in the U.S. banking system, nearly half of Americans are anxious about the safety of the money they have in accounts at banks or other financial institutions. A total of 48% of U.S. adults say they are concerned about their money, including 19% who are “very” and 29% who are “moderately” worried. At the same time, 30% are “not too worried” and 20% are “not worried at all.”
These findings are from a Gallup poll conducted April 3-25, the month after Silicon Valley Bank and Signature Bank collapsed. News about the failure of a third bank — First Republic — came after the poll was completed.
Needless to say, the events of the past couple of weeks are not going to help people feel any better.
Our banking system is in a tremendous amount of trouble, and this is just one element of the broader societal meltdown that we are currently witnessing.
I am extremely concerned about the rest of 2023.
And I am even more concerned about what 2024 will bring.
Events are starting to move very rapidly now, and very dark days are ahead.
Pay attention and prepare. This entire economic system is on the verge of a total collapse, so the ruling class can bring in the fully controlled central bank digital currency that will permanently enslave all those who choose to participate in the new draconian system.
https://www.shtfplan.com/headline-news/the-banking-crisis-has-only-just-begun
by Mac Slavo
May 5, 2023
The banking crisis is far from over; in fact, it has only just begun. The recent fragility and collapse of several high-profile banks are most likely not an isolated phenomenon as the ruling class would have us believe.
In the near term, a damaging combination of fast-rising interest rates, major changes in work patterns, and the potential of a recession could prompt a credit crunch not seen since the 2008 financial crisis. Even though Federal Reserve chair Jay Powell raised interest rates, he also said yesterday that the U.S. banking system is “sound and resilient.”
But it’s become glaringly obvious to anyone paying attention that the banking system in the United States is barely hanging on. The New York Times also says
Just in the past few months, Silicon Valley Bank, Signature Bank, and First Republic Bank have failed. Their combined assets surpassed those held by the 25 banks (when adjusted for inflation) that collapsed at the height of the financial crisis. While some experts and policymakers believe that the resolution of First Republic Bank on Monday indicates the turbulence in the industry is coming to an end, I believe this may be premature. On Thursday, shares of PacWest and Western Alliance are falling as investors’ fears spread. Adverse conditions have significantly weakened the ability of many banks to withstand another credit shock — and it’s clear that a big one may already be on its way. –New York Times
Regional bank shares have been plummeting in the past few days too. First Horizon shares took a 37% dive at today’s open, bringing its market cap down to around $5 billion, according to a report by Axios.
First Horizon Shares Crash After TD Bank Deal “Terminated”
Some are warning that this banking crisis is not only going to get worse, but it’s going to be the worst economic calamity human beings have ever seen.
Gregory Mannarino: “Prepare For The Greatest Depression”
Pay attention and prepare. This entire economic system is on the verge of a total collapse, so the ruling class can bring in the fully controlled central bank digital currency that will permanently enslave all those who choose to participate in the new draconian system.
US officials are making urgent efforts to rescue the struggling First Republic Bank, as attempts by private-sector companies have thus far failed, Reuters reported on Friday, citing sources.
People familiar with the matter told the outlet that the Federal Deposit Insurance Corporation (FDIC), Treasury Department, and Federal Reserve have arranged meetings with financial firms in recent days in an effort to hand the distressed lender a lifeline.
Sources claimed that the step could pave the way for more parties, including banks and private equity companies, to become involved. However, they added it was unclear if the government was considering participating in a private-sector rescue of First Republic. They also highlighted that US officials view a private-sector deal as preferable, rather than First Republic falling into FDIC receivership.
“We are engaged in discussions with multiple parties about our strategic options while continuing to serve our clients,” First Republic stated.
A dramatic sell-off has wiped out 75% of the bank’s stock value this week, following the disclosure on Monday that it had lost more than $100 billion of deposits in the first quarter of the year. The San Francisco-based lender has struggled to stay afloat since the US banking sector was hit by a major crisis stemming from the collapses of Silicon Valley Bank and Signature Bank in March.
Silicon Valley Bank, a significant player serving the tech and startup sectors, was shut down by regulators last month shortly after California-based, crypto-focused Silvergate liquidated its bank. New York-based Signature Bank was also closed down by regulators due to liquidity concerns.
READ MORE: US banking crisis fears mount as major lender struggles
To help First Republic avoid the same fate, leading US financial institutions agreed last month on a $30 billion injection into the troubled regional lender. Efforts to inspire confidence in the banking system thus far appear to have failed, however. Shares of First Republic are down 97% this year.
In the next few years, the financial system will crash under its own weight in spite of and also due to the coming biggest money-printing avalanche that the world has ever experienced.
Nixon’s closing of the gold window in 1971 was the signal that this currency system was going to end like all currency systems in history. And for the ones who haven’t studied the history of money, let me tell you that NO FIAT MONEY HAS EVER SURVIVED IN HISTORY IN ITS ORIGINAL FORM. So with all money going to ZERO, it has never been a question of if but only of when the dollar-based currency system would die.
https://www.sott.net/article/479008-The-Everything-Collapse
Egon von Greyerz
Gold Switzerland
Sun, 02 Apr 2023
Sadly, gold is now on its way to heights which are unthinkable for most people.
To all the people who have asked me over the years why gold doesn’t go up, I have replied:
“Don’t wish for gold to go up substantially for when it does, your quality of life will deteriorate remarkably.”
And we are now at the point in the world when this is likely to happen.
Let me be clear, now is the time to protect whatever assets you have in order to avoid the total asset destruction that is coming next. More about this later in this article.
THE FINANCIAL SYSTEM WILL NOT SURVIVE
I came to the conclusion early in this century that a sick financial system was not going to survive the infestation of vermin in the form of debt that started just over 50 years ago.
Nixon’s closing of the gold window in 1971 was the signal that this currency system was going to end like all currency systems in history. And for the ones who haven’t studied the history of money, let me tell you that NO FIAT MONEY HAS EVER SURVIVED IN HISTORY IN ITS ORIGINAL FORM. So with all money going to ZERO, it has never been a question of if but only of when the dollar-based currency system would die.
Dalai Lama said:
“If there is a solution to a problem, there is no need to worry.
And if there is no solution, there is no need to worry”
But in this case, my view is THAT WE REALLY NEED TO WORRY.
So sadly, his wisdom doesn’t apply to the global problem that the world is now facing.
IS THE UKRAINE WAR COMING TO AN END
In early January this year I wrote an article called “OMINOUS MILITARY & FINANCIAL NUCLEAR THREATS COULD ERUPT IN 2023.”
I have covered the threat of a major war in many articles in the last 12 months for example “Will nuclear war, debt collapse or energy depletion finish the world“
Although it is too early to be really optimistic, it now looks like my prediction that Russia will never lose this war is getting closer.
Ukraine is making the Battle of Bakhmut into their Stalingrad last stand (WWII 1943).
Ukraine has committed the majority of their remaining forces to win this battle against Russia. If they lose in Bakhmut, even Zelensky believes that this could be the end for Ukraine.
Here is the Associated Press (AP) article in which Zelensky is hinting that Ukraine could lose this war –
“Ukraine’s Zelensky: Any Russian victory could be perilous.”
If Bakhmut fell to Russian forces, Putin would “sell this victory to the West, to his society, to China to Iran” Zelensky said in the AP interview.
“If he will feel some blood – smell that we are weak – he will push, push, push!”
Scott Ritter, the former intelligence officer and UN weapons’ inspector just gave this interview in which he believes that Ukraine is on the point of losing the war:
THE END OF US HEGEMONY
At the beginning of the Ukraine conflict, I and some others made the analogy with the Cuban Missile Crisis in 1962 (which I remember well) when Kennedy gave an ultimatum to Khrushchev to withdraw the nuclear missiles pointing towards the US or face war.
In the same way as with Cuba, Russia was never going to accept Ukraine becoming a Nato country. But sadly the US Neocons have seen this conflict as the last chance to save the US military, political and economic hegemony from total collapse. Defeating Russia was the last stand for the US. But it now looks like they will fail which seals the fate of the US empire.
The US neocons forced a much too willing Europe to not only agree to the sanctions against Russia but also make direct contributions to the war both with money and equipment.
This fatal mistake by Europe and especially Germany is totally crushing the European economy. But what the US neocons never understood is that the US sanctions would affect the whole world and in particular, the debt-infested US and the West.
At the end of an economic era, unexpected events take place which will seal the fate of a crumbling empire.
THE END OF THE CENTRAL BANKER
The script for the first 22+ years of the 2000s couldn’t be more perfect as the final glutinous feast of Gargantua The Central Banker. (Gargantua – book by Rabelais 1543)
Central bankers have been the principal creators of the current crisis which had its beginnings over 100 years ago.
Significant events in the 2000s created by fallacious Central Bank policies:
- 2000-2 Market collapse: Tech stocks down 80%
- 2006-8 Subprime banking crisis: Dow down 54%, massive money printing
- 2009-21 Stocks & asset markets exploding: Dow up 6X, Nasdaq up 16X
- 2006-20 Manipulation of rates: US 10yr treasury down from 5.4% to 0.5%
- 2000-23 US Debt explosion: Up 3.5X from $27t in 2000 to $95t in 2023
- 2000-23 Global debt explosion: Up 3X from $100t in 2000 to $300t in 2023
- 2020-23 Real inflation US EU: Up from 0% in 2020 to 10%+ in 2023
The extreme moves and volatility exemplified in the table above have nothing to do with free markets. They are the manifest consequences of shameless manipulation of markets and market conditions by Central Banks. Such extreme moves could never happen if markets followed nature’s laws and the laws of supply and demand.
For example, in an unmanipulated market, it would be totally impossible for credit to expand exponentially and interest rates to remain at zero. The basic principle of supply and demand would force the cost of money up when demand for credit expands. And if there was no demand, the cost of money would obviously come down to the level where demand resumes.
If markets were allowed to follow the natural rhythm of nature, they would be self-correcting without extreme tops and bottoms.
This is so basic that a 7-year-old would understand it. But the Central Bankers choose to ignore it.
The obvious consequence of markets flowing naturally without intervention would mean that we could get rid of Central Bankers. How wonderful! No Central Banks, No Manipulation and No Extremes in the economy or markets.
Sadly, such simple solutions are the exception in history with greed and power driving man rather than reason and logic.
The bankers clearly knew what they needed to do when they met on Jekyll Island in 1910 in order to control the US and the global monetary system. At this meeting, they schemed to create the Fed in 1913 and followed the axiom of Mayer Amschel Rothschild a German banker in the late 1700s: “Let me issue and control a nation’s money and I care not who writes the laws.”
From Amschel Rothschild to Jekyll Island to Nixon closing the gold window in 1971, the Central bankers and bankers have successfully taken control of issuing exponentially larger amounts of money and debt for their own benefit as well as for a very small elite who could take advantage.
Having created a structure that was above the law as Amschel said, they have so far been in total control of their own destiny with governments being dictated to by the central bankers and bankers. Thus in 2008, the Fed and a number of virtually bankrupt banks, including JP Morgan, Goldman, Morgan Stanley, Bank of America, Barclays etc dictated their own rescue terms to the US and other governments.
But we must remember that 2006-9 was just a rehearsal. The finale is starting now. The debt which has built up has now reached levels which means the financial system is now too big to survive.
Three US banks and one Swiss went under 2 weeks ago although two of the four were rescued temporarily at a high cost. The Swiss government could not afford to let Credit Suisse go under and is supporting the UBS takeover of the Credit Suisse at a potential extraordinary cost of CHF 209 billion.
Central banks are on standby to stop the next bank run. Many expected Deutsche Bank to be next. Governments will stop major banks from going under for as long as they can, to stop global contagion. But they will of course fail.
The FDIC (Federal Deposit Insurance Corporation) currently has a capital of $128 billion dollars to support a total of $18 trillion deposits. So with 0.7% cover, it is guaranteed that the US government will soon need to step in as the next lot of US banks fail. Same in Europe where most EU banks and the ECB are in terrible shape.
Total central bank assets are $ 25 trillion which is less than 10% of global debt before derivatives. Default rates in coming years are likely to exceed 50% which means much more money printing to come.
ALL ASSETS ARE PRICED AT THE MARGIN – PROTECT YOURSELVES
As the current asset bubbles are coming to an end, the exit doors will be totally blocked by panicking sellers.
All assets are priced at the margin and even more so since the current asset bubbles have been created by the most gigantic debt bonanza. To take an extreme example, if there is one seller and no buyer in the housing market, the price of all houses will go to zero. The same is true for the stock market.
But as investors run for the exit, most will not get through since there will at some point be no buyers at any price.
This is how the price of stocks, bonds or property can go down by 75% to 100% in real terms. Some market observers say that this has never happened in history so it won’t happen today either. Yes, of course, I can be wrong, but what we must remember is that nor have we ever in history had a global debt and asset bubble of this magnitude. So we are in unchartered waters and conventional wisdom doesn’t apply and is just conventional without any wisdom.
In any case, investors shouldn’t worry how much their assets could decline. Instead, they should worry about protecting themselves against the risk of this happening.
Firstly investors should go as liquid as possible. Secondly, debts must be repaid. Nobody will want the bank to take their assets at a bargain price.
Short-term government bonds could offer adequate protection. But medium and long term, governments will at best destroy the value of the currency and at worst also default.
Tangible assets are undervalued and a good investment to own.
Physical gold and silver held outside the banking system is the ultimate protection just as in any crisis.
It is absolutely critical to buy gold and silver now before investors panic into these metals. There is very little gold and silver available to buy. Currently, all production is absorbed and any increase in demand cannot be met by increased supply but only by much higher prices.
But remember that gold and silver are also priced at the margin, so as demand increases, we could reach a situation when there is no silver or gold available at any price.
So my very strong advice is not to wait for the herd since you then are likely to be left with no silver or gold and no protection.
But in the end, as I have stressed, the $2 quadrillion debt and derivative liabilities, cannot be saved.
In the next few years, the financial system will crash under its own weight in spite of and also due to the coming biggest money-printing avalanche that the world has ever experienced.
Previously, it was being reported that U.S. banks are facing unrealized losses of 620 billion dollars on the bonds that they are holding due to rapidly rising interest rates, but now we are being told that it is actually 780 billion dollars. And when you throw in unrealized losses on their loan portfolios, the unrealized losses that our banks are facing come to a grand total of somewhere around 1.7 trillion dollars…
Michael Snyder
April 3, 2023
If our banking system can’t find a way to turn things around, our entire economy will soon be in a world of hurt. When banks get into trouble, they start getting really tight with their money. That means fewer mortgages, fewer commercial real estate loans, fewer auto loans and fewer credit cards being issued. So it should greatly concern all of us that U.S. banks are bleeding deposits at an absolutely staggering pace right now. During the week ending March 15th, 98.4 billion dollars was pulled out of U.S. banks. That was really bad, but we just learned that things got even worse the next week. During the week ending March 22nd, 126 billion dollars was pulled out of U.S. banks…
Depositors drained another $126 billion from U.S. banks during the week ending March 22, according to new Federal Reserve data. This time the outflow came from the nation’s largest institutions.
But this banking crisis did not begin in March as many have been led to believe.
Over the past year, well over a trillion dollars has been pulled out of U.S. banks, and this has created a tremendous amount of financial stress…
The challenge the deposit outflows create for all banks is that if they raise rates on their deposits to keep customers, that could make them less profitable. But if they lose too many customers, as Silicon Valley Bank did, they give up critical funding and may have to sell assets at a loss to cover withdrawals.
Silicon Valley Bank customers withdrew $42 billion in one day, leaving the bank with a negative cash balance of $958 million.
When lots of depositors start pulling their money out, banks can be forced to sell assets in order to have enough cash.
Unfortunately, U.S. banks are sitting on a giant mountain of unrealized losses right now.
Previously, it was being reported that U.S. banks are facing unrealized losses of 620 billion dollars on the bonds that they are holding due to rapidly rising interest rates, but now we are being told that it is actually 780 billion dollars.
And when you throw in unrealized losses on their loan portfolios, the unrealized losses that our banks are facing come to a grand total of somewhere around 1.7 trillion dollars…
A study released on March 13th took a deeper look at the unrealized losses banks were likely holding. The study found that actual losses to banks’ security holdings were $780 billion, not $620 billion as estimated by the FDIC.
But the authors went deeper, rightly noting, “Loans, like securities, also lose value when interest rates go up.”
They found that total unrealized losses as of December 2022 were $1.7 trillion. In a chilling warning, the authors noted that “the losses from the interest rate increase are comparable to the total equity in the entire banking system.” We’re not out of this banking crisis. In fact, it may be just the beginning.
Ouch.
The Federal Reserve was warned not to raise interest rates so quickly.
But they did, and now they have broken our entire banking system.
In fact, Nouriel Roubini is warning that “most U.S. banks are technically near insolvency” at this stage…
Roubini also points out that the rise in interest rates has led to a decrease in the market value of banks’ other assets, and when accounting for these factors, U.S. banks’ unrealized losses actually amount to $1.75 trillion, or 80% of their capital.
According to Roubini, the “unrealized” nature of these losses stems from the current regulatory regime, which allows banks to value securities and loans at their face value rather than their true market value.
He asserts that most U.S. banks are technically near insolvency
We are in far more trouble than most people realize.
The truth is that we are not just heading into a “recession”.
What we are potentially facing is a meltdown of the entire system, and it is going to take quite a while for this crisis to fully play out.
But even now, symptoms are starting to erupt all around us.
For example, McDonald’s just decided to close all of their U.S. offices while they decide which of their employees still get to work for them…
McDonald’s is closing its U.S. offices for a few days this week as the company prepares to inform employees about layoffs as part of a broader restructuring, according to a report.
The Chicago-based burger chain said in an internal email that U.S. corporate employees and some staff abroad should work from home while the company notifies people of their job status virtually, The Wall Street Journal reported Sunday.
Like so many other big companies are doing these days, McDonald’s is going to be laying off people by email.
What a horrible thing to do.
Of course, when people get laid off they can respond very emotionally, and confrontations between management and those that have been fired can get pretty intense.
So informing people that they are terminated when they are out of the office is a way to avoid messy situations. But I still think that it is a really heartless thing to do.
There is so little loyalty in the corporate world today. You can pour your heart and soul into a company for decades, and then one day some numbers cruncher comes along and suddenly decides that you have become expendable.
We have seen so many layoffs in recent months, and many more are on the way.
And at this point, a whopping 72 percent of all Americans believe that the economy is getting worse…
A new survey shows that 83% of American adults view current economic conditions as “only fair” or “poor,” reported Gallup. In addition, 72% think economic conditions are getting “worse.”
Unfortunately, what most people don’t realize is that what we have been through so far is just the tip of the iceberg.
All of the bubbles have started to burst, and our entire system is beginning to tremble violently.
So I would encourage you to hold on tight because we have got a very bumpy ride ahead of us.
Sanctioned businessman Oleg Deripaska says exorbitant government spending will lead to a financial crash
“Reckless militarization, sanctions against everyone, and military adventures around the world have already cost this country almost $33 trillion,” said the billionaire, who was sanctioned by the US last year. However, he provided no details on where this figure came from. Deripaska noted that the US has never come so close to the bankruptcy of public finances.”
https://www.rt.com/business/573535-deripaska-warning-us-economy-debt/
March 25, 2023
© Global Look Press / Igor Russak
One of Russia’s richest men has warned that the American economy is currently in a very challenging situation, due to global overreach. Tycoon Oleg Deripaska made the comments using his Telegram channel on Friday.
He believes the underlying economy cannot take the weight of the country’s enormous government debt and exorbitant spending.
“Reckless militarization, sanctions against everyone, and military adventures around the world have already cost this country almost $33 trillion,” said the billionaire, who was sanctioned by the US last year. However, he provided no details on where this figure came from.
Deripaska noted that the US has never come so close to the bankruptcy of public finances.
“Printing more money is useless. Therefore, they will quietly discuss how to raise the debt ceiling in Congress,” he explained.
“Lots of heads will roll this spring in Washington,” he said, adding that this will pave the way for peace in 2025.
READ MORE: US economy heading for ‘train wreck,’ billionaire warns
According to the founder of the world’s second-largest aluminum company, Rusal, Washington also faces the problem of unsecured deposits in regional banks that amount to nearly $17 trillion.
Earlier this week, unnamed sources told Bloomberg that the US Treasury Department is reviewing whether federal regulators have sufficient emergency authority to temporarily insure deposits greater than the current $250,000 cap on most accounts. The measure is reportedly being sought by the Mid-Size Bank Coalition of America, which includes banks with assets of as much as $100 billion.
The US banking sector has recently been hit by a wave of failures after the collapses earlier this month of Silicon Valley Bank and Signature Bank. The turmoil has spread to Europe, engulfing Switzerland’s second-largest lender Credit Suisse, which was forced to merge with rival investment bank UBS.
According to Deripaska, the emergency rescue won’t stop the crisis, which will derail UBS Group as well.
Banks are so overleveraged and in the red for their derivatives shenanigans that each subsequent rate hike by the private Federal Reserve banking cartel adds that much more pressure on their books. Meanwhile, inflation is still soaring because in order to really get a hold on it, interest rates would need to be hiked a whole lot more.
The government’s promise to up the Federal Deposit Insurance Corporation (FDIC) coverage limit beyond $250,000 at these affected banks put a temporary halt on a full-scale collapse. The truth, though, is that eventually, the entire system is going to implode under the weight of all the fraud, corruption and other financial crimes that have stacked its collapse-inducing sins high into the sky.
https://www.naturalnews.com/2023-03-27-moodys-economist-warns-things-break-financial-system.html
by: Ethan Huff
Monday, March 27, 2023
(Natural News) The problems that currently plague banks and the financial system at large will continue for at least another year to a year and a half, warned Moody’s Analytics Chief Economic Mark Zandi, adding that “things are going to start to wobble and break” in the coming days.
Banks are so overleveraged and in the red for their derivatives shenanigans that each subsequent rate hike by the private Federal Reserve banking cartel adds that much more pressure on their books. Meanwhile, inflation is still soaring because in order to really get a hold on it, interest rates would need to be hiked a whole lot more.
But doing that will sink the system, so the Fed is stuck between a rock and a hard place. One thing is for sure: they are going to try to do whatever it takes to prevent the big boys from losing and the little guys from winning, which typically means more financial pain for everyone at the grocery store and the gas pump.
“When you raise interest rates and you raise them as fast as the Fed has and as high as they have over the past year, things are going to start to wobble and break and it’s going to feel uncomfortable,” were Zandi’s exact words when asked by CBS News host John Dickerson about remarks that Fed Chairman Jerome Powell made concerning a “bumpy” ride for the banking industry as interest rates increase.
“And this, what we saw in the banking system over the last eight to 10 days, is exactly what he was talking about. It’s going to get bumpy. And I don’t think it’s over. Inflation is still high. The Fed’s still got to get inflation back in. And so, the next 12-18 months are going to be uncomfortable.”
(Related: Banks as a whole are collectively hiding about $620 billion in losses right now for which they are probably going to expect a bailout.)
The banking system is “fragile,” Zandi warned (because they play fast and loose with other people’s money)
Around the time when Silicon Valley Bank (SVB) and Signature Bank both collapsed, many depositors at other banks got scared and pulled out their cash in a mini-bank run – until the powers that be stepped in to provide a special lifeline just for the fat cats.
The government’s promise to up the Federal Deposit Insurance Corporation (FDIC) coverage limit beyond $250,000 at these affected banks put a temporary halt on a full-scale collapse. The truth, though, is that eventually, the entire system is going to implode under the weight of all the fraud, corruption and other financial crimes that have stacked its collapse-inducing sins high into the sky.
Eventually, there is no further amount of jerry-rigging or other can-kicking that can bail out the financial criminals from their global Ponzi scheme. When that finally happens, the game will stop.
“The banking system is fragile,” Zandi warned. “Everybody knows it. We had deposit runs.”
“I don’t think it’s any surprise that the banking system is under pressure. So, let’s fess up to it and let’s make sure that the system is on solid ground. I think it is. I think what the FDIC and the Treasury and the Federal Reserve have done is adequate, but let’s just make sure.”
Just remember that the powers that be were saying the same types of things a year to a year and a half ago when they promised that inflation was only “transitory” until it became persistent. Now they are telling us once again that the system is still on “solid ground,” and that all these problems plaguing the banks are just temporary – do you believe them?
The latest news coverage about the breakdown of the current economic order can be found at Collapse.news.
Sources for this article include:
There are more than 4,000 banks in the United States right now, and the vast majority of them are rapidly losing deposits. As a result, U.S. banks are being forced to turn to the Fed for help at a very frightening rate…
by Michael Snyder
March 26, 2023
A trillion dollars is a lot of money. If you stacked a billion dollar bills on top of one another, the pile would be 67.9 miles high, but if you stacked a trillion dollar bills on top of one another the pile would be 67,866 miles high. And if you lined up a trillion dollar bills end to end, the line of dollar bills would be a staggering 96,906,656 miles long. That is longer than the distance from the Earth to the Sun. A trillion dollars is such a vast amount of money that it is truly difficult to comprehend, but as you will see below, that much money has already been pulled out of “vulnerable” U.S. banks over the past year. Hordes of small and mid-size banks are now in trouble, and that is really bad news because those institutions issue most of the mortgages, auto loans and credit cards that our economy runs on. The other day, I asked my readers to “imagine what our country will look like if the banking system implodes and the economy plunges into a depression”, because if our banks continue to collapse that is precisely where we are headed.
Unfortunately, the recent banking panic has greatly accelerated matters. In fact, a whopping 98.4 billion dollars was pulled out of U.S. banks during the week ending March 15th…
The readout, released shortly after the market closed Friday, came around the same time as new Fed data showed that bank customers collectively pulled $98.4 billion from accounts for the week ended March 15.
That would have covered the period when the sudden failures of Silicon Valley Bank and Signature Bank rocked the industry.
Just think about that.
Nearly 100 billion dollars in deposits evaporated in just one week.
And it turns out that small banks were being hit the hardest. Unsurprisingly, big banks actually saw enormous inflows…
Data show that the bulk of the money came from small banks. Large institutions saw deposits increase by $67 billion, while smaller banks saw outflows of $120 billion.
That article didn’t give numbers for mid-size banks, but it appears likely that they experienced large outflows as well.
Overall, JPMorgan Chase is telling us that the “most vulnerable” banks in this country have “lost a total of about $1 trillion in deposits since last year”…
JPMorgan Chase & Co analysts estimate that the “most vulnerable” U.S. banks are likely to have lost a total of about $1 trillion in deposits since last year, with half of the outflows occurring in March following the collapse of Silicon Valley Bank.
This really is a “banking meltdown”, and it has been going on for quite some time.
And as Bill Ackman has aptly noted, if something is not done our small and mid-size banks are headed for disaster.
There are more than 4,000 banks in the United States right now, and the vast majority of them are rapidly losing deposits.
As a result, U.S. banks are being forced to turn to the Fed for help at a very frightening rate…
Banks have been flocking to emergency lending facilities set up after the failures of SVB and Signature. Data released Thursday showed that institutions took a daily average of $116.1 billion of loans from the central bank’s discount window, the highest since the financial crisis, and have taken out $53.7 billion from the Bank Term Funding Program.
Meanwhile, the banking crisis in Europe has taken another very alarming turn.
On Friday, shares of Deutsche Bank plunged due to renewed concern about the stability of Germany’s biggest bank…
Deutsche Bank shares fell on Friday following a spike in credit default swaps Thursday night, as concerns about the stability of European banks persisted.
The Frankfurt-listed stock was down 14% at one point during the session but trimmed losses to close 8.6% lower on Friday afternoon.
The German lender’s Frankfurt-listed shares retreated for a third consecutive day and have now lost more than a fifth of their value so far this month.
It will be interesting to see if Credit Suisse or Deutsche Bank ends up going under first.
Of course, the politicians continue to tell us that everything is just fine.
In fact, German Chancellor Olaf Scholz is insisting that there is “no reason to be concerned”…
German Chancellor Olaf Scholz said Friday that there was “no reason to be concerned” about Deutsche Bank.
“It’s a very profitable bank,” he told reporters in Brussels, where EU leaders issued a joint statement describing the European banking system as “resilient, with strong capital and liquidity positions.”
Deutsche Bank declined to comment.
Once upon a time, we were told that Lehman Brothers would be just fine.
And earlier this month we were told that Silicon Valley Bank would be just fine.
As Robin Williams once observed, these banks love to make excuses.
But it isn’t just a few isolated banks that are in trouble these days.
Right now the entire system is coming apart at the seams, and Steve Quayle is warning that things “will really kick into high gear in April”…
The word collapse is a great word, and the other word that comes with collapse is calamity. With the collapse and calamity under way, people think, well, as long as it doesn’t touch me, I’ll be okay or I’ll be dead, and my kids will have to deal with it. What a selfish way to deal with the Biblical times we live in. I think we are in big trouble with this banking situation that will really kick into high gear in April.
You may not have much sympathy for the banks, and I understand that.
But what is going to happen to our economy when the flow of mortgages, auto loans and credit cards is greatly restricted?
Our country is already being torn to shreds like a 20 dollar suit, and economic conditions are still relatively stable.
So what is going to happen when we do fall into a very deep economic depression?
These are such perilous times, and they are only going to get more difficult in the months ahead.
It’s time to consider the possibility of systemic economic failure and all-out collapse.
by Mac Slavo
Mar 23, 2023
JPMorgan says that the United States economy is probably headed for a recession as the economic “engines are about to turn off.” The megabank also said that the economy is “already past the point of no return.”
“The Fed is facing a difficult task on Wednesday, but it is likely already past the point of no return,” some strategists said, according to a report by Fortune. “A soft landing now looks unlikely, with the airplane in a tailspin (lack of market confidence) and engines about to turn off (bank lending).”
“Even if central bankers successfully contain the contagion, credit conditions look set to tighten more rapidly because of pressure from both markets and regulators,” they added.
These comments come as the Federal Reserve is set to make a key decision on whether to continue to raise interest rates later today. The strategists that commented said that either way, it looks like the U.S. is heading into a recession.
However, the JPMorgan Chase analysts suggested that the current situation could represent a potential “Minsky moment,” referring to the theory that extended bull markets result in major collapses, according to a report by The Hill.
Prepare For An Economic Emergency Or Recession
The banking crisis of the past week has indeed increased nervousness. As Market Watch reported, the Bank of America’s March survey of global fund managers, out Tuesday, revealed that a “systemic credit event” is now seen as the biggest threat to markets. Stresses in U.S. shadow banking and corporate debt and developed-market real estate could trigger such an event, said strategists.
Kolanovic, the bank’s chief global markets strategist, said the outbreak of stress in the banking sector will likely affect central banks for some time, as it has shifted the risks in their outlooks. A case in point, he said, was the European Central Bank, which, in addition to raising its key interest rate by 50 basis points, dropped its forward guidance and announced a higher core-inflation forecast last week. –Market Watch
Overall, now is not the time to take chances, JPMorgan analysts said. “We stay cautious on risk assets which price in too little recession risk, while the banking crisis raises the prospect of a recession this year as credit is restricted,” Marko Kolanovic, the bank’s chief global markets strategist and the team said, adding that equity and credit volatility seems “complacent compared to unprecedented rate volatility.”
Prepping For The Next Recession: Now Is The Time
It’s time to consider the possibility of systemic economic failure and all-out collapse. Get those last-minute preps in place just in case.
The growing number of institutional failures is a signal that the entire economic system is under pressure
“Depositors could panic, resulting in national runs on banks. Since lenders don’t have the money they will be forced to close their doors and block depositors’ access to their accounts. As governments cannot protect all depositors, we could be facing a 1929-style Great Depression or worse – the collapse of the entire Western financial system.”
https://www.rt.com/business/572913-us-banking-financial-crisis/
March 14, 2023
© Getty Images / Siegfried Layda
The US banking industry is reeling from a string of bank failures, which kicked off last week and continue to rattle both domestic and global markets. Economists spell doom and gloom, despite efforts to stem the fallout. Here’s what you need to know.
- What happened?
California-based, crypto-focused bank Silvergate was the first to announce impending liquidation last Wednesday. Then came tech and start-up favorite Silicon Valley Bank (SVB), the implosion of which on Friday was the largest US bank collapse since the financial crisis of 2008. New York-based Signature Bank was the latest to be shut down over the weekend, as regulators feared for its liquidity. - Why did the banks fail?
The banks saw their stocks plunge following massive deposit outflows amid fears of a recession, higher interest rates, and a slowdown in the market for initial public offerings. These factors made it harder for many businesses to raise additional cash and led companies to draw down their deposits at SVB and similar lenders. - What do interest rates have to do with it?
In order to tame inflation, governments in the West began to raise interest rates. There is a historic correlation between higher interest rates and failures of overleveraged financial institutions. Overleveraging occurs when a business has borrowed too much money and is unable to pay interest or principal repayments, or maintain payments for its operating expenses. Interest rates in the US have been hiked on more than one occasion over the past year, and many analysts warn they are currently too high at 4.5%-4.75% to keep financial bubbles from bursting. - Who’s next?
The stock meltdown resumed with a vengeance on Monday, with several bank stocks halted due to volatility. As of mid-day, PacWest Bancorp, Zions Bancorporation, First Republic Bank and Regions Financial were no longer trading until further notice. - How did the Fed react?
The Federal Reserve, US Treasury and Federal Deposit Insurance Corporation (FDIC) on Sunday announced a new emergency program aiming to shore up confidence in the banking system and protect depositors of failing banks. They will allow both insured and uninsured depositors of the collapsed banks full access to their money through a special FDIC fund. The Fed also separately announced it would make additional funding available for banks in cases of emergency, through a new Bank Term Funding Program. - Will the measures stem the fallout of the collapses?
Traders and analysts claim the panic is already ripe and could further push investors to move funds from small banks to what they view as the safety of large systemically important lenders. This would drain liquidity from the latter and may lead to their downfall. - Is there a risk of a broader upheaval?
Governments in the US, Britain and Canada have been taking extraordinary steps to prevent a potential banking crisis. Germany’s finance watchdog stated the “distressed situation” of SVB’s German branch “does not pose a threat to financial stability.” According to some analysts, there’s no risk of contagion, since the authorities have stepped in. - What’s the worst-case scenario?
Depositors could panic, resulting in national runs on banks. Since lenders don’t have the money they will be forced to close their doors and block depositors’ access to their accounts. As governments cannot protect all depositors, we could be facing a 1929-style Great Depression or worse – the collapse of the entire Western financial system.
The coming Central Bank Digital Currency prison is truly global in nature, being implemented in nearly every country in the world.
Global Research, February 05, 2023
LifeSite 16 May 2022
Way back in 2017 I created a country-by-country guide to the biometric ID control grid that was coming into view even then. In that editorial I noted that “it doesn’t take a Nostradamus to understand where this is all heading: From the cashless society and the biometric ID grid to the cashless biometric grid.”
Well, here we are. It’s 2022 and the merger of the cashless society and the biometric ID grid is nearing completion. In fact, the current iteration of this control grid agenda is even worse than predicted. Now known as Central Bank Digital Currency, or CBDC, this programmable digital money offers the banksters numerous options, including the ability to combine the cashless society with the biometric ID grid and even a social credit system. If and when CBDCs replace other payment methods, the banksters’ control over society will be unprecedented.
But however closely you might be following the drive toward the CBDC dystopia, you might be missing the forest for the trees. Although each country’s central bankers talk as if they have come up with the idea for a digital currency all by themselves and that there is no international coordination behind the CBDC agenda, nothing could be further from the truth. In fact, as a recent Bank for International Settlements report indicates, 90% of central banks around the world are currently studying the feasibility of issuing their own CBDC.
In the past, I have warned about the coming CBDC nightmare and talked about the numerous ways we can start taking the monetary power back into our own hands.
Today, I am going to drive home the point that the coming CBDC prison is truly global in nature by demonstrating that it is not just being put into place in one or two totalitarian countries, but nearly every country in the world.
Only when we recognize how dire the situation is can we hope to motivate communities to implement the survival currencies that will see us through the controlled demolition of the existing monetary order.
Australia
The Reserve Bank of Australia (RBA) has been exploring the possibility of an Australian Central Bank Digital Currency since at least 2019, when its “Innovation Lab” drafted a Submission to the Senate Select Committee on Financial Technology and Regulatory Technology, which states that “the Bank is conducting research on the technological and policy implications of a wholesale CBDC.”
It made good on this threat in November 2020 with the announcement of a partnership between the RBA and Commonwealth Bank, National Australia Bank, Perpetual, and ConsenSys Software to “explore the potential use and implications of a wholesale form of central bank digital currency.” Philip Lowe, governor of the RBA, has publicly expressed skepticism about the need to implement a retail CBDC in Australia, but the door is still open to the possibility.
The Bahamas
The Bahamas became the unlikely location of the world’s first nationwide CBDC when they launched the “Sand Dollar” back in October 2020. The island archipelago—with one of the highest per capita incomes in the Americas and a 90% mobile device penetration rate—was viewed as an ideal laboratory for the CBDC experiment by central bankers and hyped as a harbinger of a “new world economy” by the global financial press. . . .
But the banksters have not been thrilled with the results so far. The IMF told the Central Bank of The Bahamas earlier this week that it needs to “accelerate its education campaigns and continue strengthening internal capacity and oversight” of the currency.
Brazil
Roberto Campos Neto, president of the Central Bank of Brazil, confirmed last month that the bank will be running a pilot test of its CBDC, the digital real, before the end of the year. “This is a way to create currency digitization without creating a break in bank balance sheets. This project should have some kind of pilot in the second half of the year,” Neto said at the press conference announcing the pilot’s launch.
Canada
This past March, the Bank of Canada (BoC) announced that it had partnered with the Massachusetts Institute of Technology (MIT) to “collaborate on a twelve-month research project on Central Bank Digital Currency.” The project—which the BoC describes as “part of the Bank’s wider research and development agenda on digital currencies and fintech”—will “explore how advanced technologies could affect the potential design of a CBDC.” This will in turn “help inform the Bank of Canada’s research effort into CBDC.”
Chile
Chile’s central bank issued a report this week on its plans for a future Chilean digital currency. Spouting the usual bankster platitudes about how a CBDC “would contribute to achieving a competitive, innovative and integrated payment system that is inclusive, resilient and protects people’s information,” the review ultimately concludes that “a deeper analysis of the benefits and risks” is in order, and promises (or threatens, depending on your perspective) to issue a new report on the subject toward the end of the year.
In the meantime, the Chilean Central Bank governor, Rosanna Costa, has said that Chile’s CBDC “should operate both online and offline” and that it should “allow the authorities to trace the transaction afterwards” while paradoxically “safeguarding personal data.”
China
The digital yuan (as readers of this column will already know) has been in the works for at least five years. It is no surprise, then, that China’s CBDC—already operational in various trials—is seen as one of the most developed CBDC projects in the world and is held up by various Western countries as the bogeyman justifying their own CBDC experimentation (“We can’t let the ChiComs beat us to the punch!”).
As you may or may know (depending how closely you’re tuned in to CBDCInsider and other such sources of info), the People’s Bank of China (PBoC) did a “test rollout” of the currency at the Beijing Olympics this year, offering athletes, attendees and press the chance to use the new CBDC at the Games. That test was deemed a success, with the PBoC later declaring that the digital yuan was used to make 2 million yuan ($315,000) of payments per day during the event.
Now, in the latest move toward full implementation of the Chinese CBDC, three cities across China have declared they will accept the digital yuan for tax payments.
European Union
The EU is currently conducting “in-house experiments” for a digital euro and expects to start working on a prototype next year. As part of its ongoing “research” process, the European Central Bank released a working paper this past week on “The digital economy, privacy, and CBDC.” The paper suggests that a digital euro could strike a happy balance between “inefficient” offline cash transactions that preserve anonymity and “efficient” online bank deposit transactions that do not preserve anonymity.
The best kind of digital currency, the report concludes, is a “CBDC with data-sharing,” a conclusion they arrive at by redefining privacy: “Privacy is not the opposite of sharing—rather it is control over sharing.” Actual Europeans are not buying this self-serving twaddle, but the ECB, unsurprisingly, seems not to be listening to them.
Ghana
The Bank of Ghana was one of the first African countries to announce that it was developing a digital currency. And now, with the release of a design paper for the eCedi—its retail token-based CBDC—it is one step closer to implementing that vision. The bank is currently soliciting feedback on the proposal from the public.
Hong Kong
The Hong Kong Monetary Authority (HKMA) has released a number of studies, white papers, proposals and discussion papers surrounding the topic of CBDCs over the past few years, from the 2019 announcement of Project LionRock-Inthanon (a joint project with the Bank of Thailand to study the application of CBDC to cross-border payments) to last month’s “Discussion paper on e-HKD from policy and design perspective.”
This paper invites “views from the public and the industry on key policy and design issues for introducing retail central bank digital currency,” leaving little doubt that the introduction of a digital Hong Kong Dollar is now all-but-inevitable.
Read: Biden is handing over American sovereignty with proposed World Health Organization treaty
India
Indian Finance Minister Nirmala Sitharaman made waves earlier this year by announcing that the Reserve Bank of India (RBI) would launch a CBDC sometime in the next fiscal year. Lest there be any doubt about the Indian government’s intention to make good on its digital currency threat, Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar asserted in March that the digital rupee is a “natural progression” of the digital payment ecosystem.
But for those worried about what life in the coming digital dystopia will be like, relax! RBI Deputy Governor T. Rabi Sankar says the bank “will probably go in for a very careful and calibrated, nuanced manner” as it springs its CBDC trap on the Indian public.
Iran
There’s an old canard in conspiracy realist circles that there are only three (?) central banks on the planet that aren’t owned by the Rothschilds. The exact list of these supposedly independent central banks varies in the telling, but Iran is usually included among them. Well, guess what? The Central Bank of Iran (CBI) is all on board with the CBDC revolution!
This past January, Abutaleb Najafi—the head of CBI’s information services company—revealed that, after two years of “continuous work” on the platform, “the infrastructure needed for CBI’s cryptocurrency and now its pilot version is ready.”
Details on the pilot test of the Iranian CBDC are scarce, but Najafi has confirmed that both state-run and private banks in the country will allow customers to open digital wallets for the currency during the trial.
Israel
Generally speaking, central banks are finding CBDCs to be a public relations disaster. In every country they hold “public consultations” about a central bank digital currency and solicit comments from the citizens, but find the overwhelming majority of those responses are negative. As it turns out, people are wary of a government-issued programmable money that could be used to completely exclude them from the financial system itself if they dare engage in activities the government disapproves of.
The Bank of Israel (BoI) has decided to do an end run around this problem by simply declaring (without showing proof) that it has “received public support for its plans to possibly issue a digital shekel on grounds it would help the economy by supporting innovation in the payments system, reducing the amount of cash and bolstering the fintech sector.”
Yes, the banksters actually want you to believe that the majority of Israelis support the idea of a digital shekel because it will reduce the amount of cash. Riiiiiiight. Don’t worry, though. The BoI says it “has still not made a final decision on whether it will issue a digital shekel” even though “all of the responses to the public consultation indicate support for continued research.” Riiiiiiight.
Japan
In March, Bank of Japan (BoJ) Governor Haruhiko Kuroda declared that the BoJ has no plan to issue a digital currency as of yet but that it “will prepare ‘thoroughly’ to respond to changing circumstances that could require it to do so in future.” Last month, BoJ Executive Director Shinichi Uchida clarified that the bank would not introduce a digital yen as a means of achieving negative interest rates, as some have warned.
European Central Bank (ECB) Says Cash ‘Not Fit’ for Digital Economy, Dismisses CBDC Privacy Concerns
In a sign that plans for a Japanese CBDC may be further along than publicly acknowledged, however, Kuroda took a moment from fearmongering about decentralized digital assets to state that a CBDC “could be an option to secure a seamless and safe [payment and settlement] infrastructure in Japan.”
Namibia
The Bank of Namibia revealed its plans last month to launch a CBDC. “We cannot ignore CBDC, it is a reality out there and for that reason, the Bank of Namibia has started researching CBDCs and they very soon will go out with consultations,” the Bank of Namibia Governor Johannes Gawaxab said at a press conference announcing the move, adding that a consultation paper on the plan is nearing completion.
Nigeria
As discussed on a recent edition of New World Next Week, Nigeria is one of only two countries in the world with an official, nationwide CBDC (the other being The Bahamas, mentioned above). The eNaira is a stablecoin minted by the Central Bank of Nigeria, making it a true digital version of the fiat currency.
This CBDC has already been declared a success by the bankster class, with the IMF predicting that the eNaira will be adopted by 90 percent of Nigeria’s population. An upgraded eNaira wallet app will be available this coming week that will allow Nigerians to “do transactions such as paying for DSTV or electric bills or even paying for flight tickets.”
Russia
For those who still believe that Vladimir “Get the Vaxx” Putin (and his pals at the WHO) are somehow against the New World Order despite being demonstrably on board with every part of the technocratic agenda, here’s another dose of reality: the Central Bank of Russia (CBR) has been working on its own CBDC project for years.
Last year, the CBR announced the creation of a “pilot group” of 12 banks that will test a version of the digital ruble later this year. According to statements from CBR representatives, citizens will be able to use the CBDC “for purchases, transfers to individuals, firms and the state, tax payments, conversions to foreign currencies in e-wallets and as a store of value.”
Rwanda
Rwanda hopped aboard the CBDC bandwagon last June, with John Karamuka, the Director of Payment Systems at the National Bank of Rwanda, telling The New Times that the central bank was “studying the possibilities of issuing its own Central Bank Digital Currency in response to global trends in digital currency.”
Earlier this year, central bank Deputy Governor Soraya Hakuziyaremye confirmed that the bank was still in the investigation phase and that it will reveal its stance on implementing a CBDC by the end of December 2022.
Saudi Arabia
In 2019 Saudi central bank (the Saudi Arabian Monetary Authority, or SAMA) announced Project Aber, a partnership with the Central Bank of the United Arab Emirates, to determine whether a new, dual-issued digital currency could be used as a unit of settlement between the two countries.
The final report of that project was released one year later, concluding that “a cross-border dual issued currency was technically viable and that it was possible to design a distributed payment system that offers the two countries significant improvement over centralized payment systems in terms of architectural resilience.”
This led to an admission last October by a SAMA official that the central bank is now actively exploring CBDC as a means to digitize payments, with an ambitious target of having 70% of all payments in the country being conducted digitally by 2030.
South Africa
The country’s central bank, the South African Reserve Bank (SARB), revealed in May 2021 that it had commenced a feasibility study for a general-purpose retail central bank digital currency. Earlier this year, it announced that it had completed the second phase of a separate trial, known as Project Khokha 2, focusing on the creation of a wholesale central bank digital currency.
Its project report on the trial concluded that the trial was successful and that the next steps should include further testing and collaboration with other countries on the development of a cross-border digital currency.
To that end, the bank announced in September 2021 that it signed up to a pilot program to develop a shared platform to enable cross-border digital currency transactions with Malaysia, Australia and Singapore.
READ: Trudeau is turning Canada into the world’s most comfortable prison state
South Korea
The Bank of Korea (BoK) launched a “forward-thinking” digital currency pilot program in August 2021 with the aim of exploring the feasibility of a retail CBDC. Selecting Ground X—the blockchain subsidiary of Kakao, Korea’s largest social network—as its blockchain simulation provider and partnering with Samsung to research cross-border payments to other mobile phones or connected bank accounts, the BoK has reportedly invested 5 billion won in the project. Phase 2 of the trial, testing “payments using CBDC, remittances between countries, and applications of privacy technologies,” is slated to wrap up this June.
Switzerland
In December 2020 the Bank for International Settlements launched Project Helvetia, a “proof-of-concept experiment to integrate tokenised digital assets and central bank money” in conjunction with the Swiss National Bank (SNB). In January of this year, the SNB revealed the results of that experiment: Project Helvetia “has successfully used central bank digital currencies to settle transactions with five different commercial banks.”
The results of the test, we are told, will allow the bank to proceed with some of the most advanced CBDC testing in Europe and “could pave the way for the implementation of a digital currency in Switzerland.”
Ukraine
Remember Bitt, the Barbadian fintech firm that helped to develop the eNaira for Nigeria? Well, guess what Bitt’s working on now? An electronic hryvnia for Ukraine. That’s right, the Ukrainian government paved the way for a CBDC last year by announcing a test pilot of the digital currency, which was slated to begin this year.
No word yet on how Russia’s ongoing “special operations” in the country have affected that plan, but so far there has been no formal announcement that the CBDC idea has been scrapped.
United Kingdom
The Bank of England (BoE) has been looking into the possibility of creating a digital currency in the UK since at least 2015. They are still officially in the “research” phase, with the bank releasing “Responses to the Bank of England’s March 2020 Discussion Paper on CBDC” in June 2021. In November 2021, the BoE released a statement that it will “launch a consultation which will set out their assessment of the case for a UK CBDC” sometime in 2022.
United States
As you may have heard by now, the Biden White House issued an Executive Order on Ensuring Responsible Development of Digital Assets this past March. Although the order generated a lot of stories about how the administration was clearing the way for the possible introduction of a digital dollar, it should be noted that the Federal Reserve has been actively exploring the concept for some time now; the “go ahead” from Biden was more window dressing than substantial policy shift.
Specifically, the Boston Fed has been collaborating with the Massachusetts Institute of Technology on Project Hamilton—a “multiyear research project to explore the CBDC design space and gain a hands-on understanding of a CBDC’s technical challenges and opportunities”—since the summer of 2020.
The first fruit of that collaboration—a report on Phase 1 of the project—was released earlier this year, resulting in new “learnings” about the best way to design a CBDC and clearing the way for Phase 2, which, we are told, “will explore new functionality and alternative technical designs.”
Venezuela
Although The Bahamas and Nigeria are now touted as the first countries to have a national CBDC in place, Corbett Reporteers will remember that Venezuela launched its own “cryptocurrency” in 2018.
Of course, as I pointed out at the time, it isn’t really a cryptocurrency; it’s a Central Bank Digital Currency. It’s completely centralized, it’s closed source and there’s only one government-run block explorer and one government-issued official wallet. You might also recall that, in a remarkable coincidence, Venezuela introduced its social credit ID card—the “fatherland card”—later that same year.
Well, in case you were wondering, Venezuelans are continuing to be pushed off the digital cliff into technocratic tyranny. Just this past March, President Maduro announced that the country’s minimum wage would now be pegged to the digital currency.
The original source of this article is LifeSite
Copyright © James Corbett, LifeSite, 2023
Every person regardless of age is a “claim on assets” in the form of usage of the dollar supply, or whatever succeeds the dollar. Incidentally, that’s why the push for life expectancy curtailing “vaccinations” is so massive in the West and seems much less so in Africa – they are not worth that much per head in dollar terms.
“Going Direct Reset” explained by Catherine Austin Fitts
Feb 4, 2023
I am a fan of Catherine Austin Fitts – a former government insider, investment banker and currently a very successful publisher. I highly recommend her publication ‘The Solari Report’. The piece that is particularly relevant today is described in the ‘2020 Wrap-Up’ HERE with John Titus, and a recently published interview below.
Bankrupt governments are different from bankrupt corporations because they can print the money to stall the bankruptcy – instead of being forced to restructure by a bankruptcy court. However, that method is not limitless either. At some point, the printing and stealing can no longer continue. It is hard to estimate exactly when that point comes, but it always does. Several reserve currencies and numerous minor ones existed and ended historically. When the endpoint comes it is extremely rapid and unstoppable.
US monetary policy went “direct” in August 2019, as Austin Fitts explains in her interview, and the “pandemic” which had been pre-planned – likely specifically for this eventuality – was kicked-off to both cover this up, temporarily, and enable to shut down the economy while unleashing a tsunami of printed money to further grab centralised power, cheapened assets, de-stabilise and remove power from any possible opposition.
Importantly for the “owners” of the money source, this is also about the restructuring of their out-of-whack balance sheet, i.e., the out-of-control liabilities. This is not only about the retirees in Western countries that have been lulled into a fat stupor by promises of socialist utopia, although obviously, but they are also a large group of creditors. Every person regardless of age is a “claim on assets” in the form of usage of the dollar supply, or whatever succeeds the dollar.
Incidentally, that’s why the push for life expectancy curtailing “vaccinations” is so massive in the West and seems much less so in Africa – they are not worth that much per head in dollar terms.
The current war on the people is part of the restructuring that the globalist “owners,” owners of the central banks, are attempting – going direct reset and attempted CBDCs. This is also the fight over whose fake digital token is going to be the “global reserve.” And so, we have the US fighting the Eurozone and Russia and China in various stages of economic and/or bioterrorism warfare progressing to kinetic war. While Russia and China and the Eurozone are also frantically restructuring their balance sheets by murdering and terrorizing their own citizenry.
In order to succeed the “owners” need to install a global system of totalitarian control through various technological surveillance means, reduce the population, and utterly impoverish and terrorize the survivors. I personally believe they will not succeed because they do not have the tech they claim – they lie about that a lot – and will not be able to bridge it in time before the situation totally unravels. The more we are aware and educated about what exactly is going on the better our chances of surviving this mess.
Acknowledging reality is the only way forward. Despite the horror of what has transpired, I feel optimistic about the future in part because I met people like Catherine Austin Fitts on this literal trip to hell.
In the interview below, Austin Fitts discusses her experience working in Washington and the financial sector. She explains the significance of a series of monetary events that took place starting in the 1990s to the present day in what is described as the “financial coup d’état.”
If the video above is removed from YouTube you can watch it on Rumble HERE.
About the Author
Sasha Latypova is a Ukrainian-born entrepreneur living in the United States. Most of her professional career was in the pharma/healthcare industry with a specific focus on the development, validation, regulatory acceptance and commercialisation of new clinical technologies and biomarkers. Latypova built two businesses in the pharmaceutical industry over 20+ years, supporting companies like Pfizer and Johnson & Johnson in running clinical trials. She had left the pharmaceutical industry when the covid injection programme was launched and immediately knew that something was gravely wrong. Latypova publishes articles on her Substack page titled ‘Due Diligence and Art’ which you can subscribe to and follow HERE.
Remember the names: Blackrock, Vanguard.
The central Banksters are rigging the game
After going into a deep slump, tech giants Apple, Microsoft, Alphabet, Amazon, and Tesla combined market value spiked by $1.3tn since July, pushing up tech-heavy Nasdaq by 14.8 percent.
On the other side of the equity fence, investors, aka “gamblers,” are dumping private equity and venture capital funds at the fastest pace on record.
The Financial Times reported that pensions and sovereign wealth funds alone pulled $33 billion from these investments in the first half of the year, according to Jefferies, the U.S. investment group.
As we have greatly detailed, equity markets and the economy have been artificially pumped up with a toxic combination of ultra-low interest rates and unprecedented government money-pumping schemes. Thus, as interest rates rise and governments go deeper in debt, by their sell-off actions there is real fear on The Street that the boom is going bust.
But of course, the game is rigged and facts don’t matter. No, this is not a “conspiracy” theory. As we note in this week’s Trend Journal, “PIMCO KEEPS PIMPING,” the former Fed clown boy Richard Clarida—who stepped down from his post earlier this year after moving $1 million to $5 million from a bond fund to a stock fund just days before Fed Head Jerome Powell announced that the central bank will “use our tools” to support growth—was hired last week by the California-based bond fund manager.
Yes, as George Carlin said, “It’s one big club, and you ain’t in it.”
Yes, the monopoly game is rigged.
“Without Any Legislative Powers, the Fed Is Rewriting the Law and Creating a Permanent $500 Billion Bailout Facility for Wall Street,” is the headline in yesterday’s Wall Street on Parade article. They detail that this money-pumping scheme is something that the Fed, in its 109 years of Bankster operations, was never allowed to do. And there is no pushback from the D.C. Gang that Americans call “Congress.”
Wall Street on Parade notes:
“On July 28 of last year, the Fed announced that it was creating a $500 billion permanent bailout facility for the trading houses (“primary dealers”) on Wall Street to support “smooth market functioning.” The Fed gave the facility the bland sounding name of “Standing Repo Facility” or SRF. What the Fed was effectively doing was creating a new “discount window” where both Fed member banks and Wall Street trading houses could obtain billions of dollars in cumulative loans if a liquidity crisis arose.
The resolution issued by the Fed in conjunction with the announcement indicates that the $500 billion ceiling can be “temporarily increased at the discretion of the Chair.”
That means that Fed Chair Jerome Powell, who just recently started a new four-year term, has the power, without any advice and consent from Congress, to throw unlimited amounts of money at the trading houses on Wall Street.
The resolution also puts this unlimited bailout facility under the auspices of the New York Fed—the same regional Fed bank responsible for the majority of the $29 trillion Wall Street bailout during and after the 2008 financial crisis.
The New York Fed is literally owned by some of the biggest banks on Wall Street, including JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley. (See our report: These Are the Banks that Own the New York Fed and Its Money Button.)”
TREND FORECAST: Yes, this Bankster deal to keep enriching the rich and rig the markets is steeped with sad facts of who runs what and who owns the economic and equity market system in America … the nation that militarily attacks and kills millions of people in sovereign countries across the globe in the name of bringing “Freedom and Democracy.”
Imagine, if you can because it is unimaginable, that the Bankster Bandits would bail out their money-junky partners to the tune of $29 trillion while the “middle class” descends into living in a Dollar General retail world. And as accurately noted by Wall Street on Parade, it is not a “Federal Reserve.”
The JPMorgan Chase, Citigroup, Goldman Sachs, and Morgan Stanley own the New York Fed.
We are living in perilous times.
We maintain our forecast for the greatest equity market and economic crash in modern history. When forecasting trends it is important to note that all things are connected. Indeed, as Chief Seattle said, “All things are connected, like the blood which unites us all.”
“GIVE ME CONTROL OVER A NATIONS CURRENCY, AND I CARE NOT WHO MAKES ITS LAWS.” BARON M.A. ROTHSCHILD
https://newspunch.com/complete-list-of-rothschild-owned-and-controlled-banks/
Aug 30, 2016
An increasing number of people are waking up to the fact that 99% of the Earth’s population is controlled by an elite 1% – but did you know that one family, the Rothschilds, rule everything, even that elite 1%?
Behind the scenes the Rothschild dynasty is unquestionably the most powerful bloodline on Earth and their estimated wealth is around $500 trillion.
Here is a complete list of all Rothschild owned and controlled banks. The U.S. entries might surprise you.
Afghanistan: Bank of Afghanistan
Albania: Bank of Albania
Algeria: Bank of Algeria
Argentina: Central Bank of Argentina
Armenia: Central Bank of Armenia
Aruba: Central Bank of Aruba
Australia: Reserve Bank of Australia
Austria: Austrian National Bank
Azerbaijan: Central Bank of Azerbaijan Republic
Bahamas: Central Bank of The Bahamas
Bahrain: Central Bank of Bahrain
Bangladesh: Bangladesh Bank
Barbados: Central Bank of Barbados
Belarus: National Bank of the Republic of Belarus
Belgium: National Bank of Belgium
Belize: Central Bank of Belize
Benin: Central Bank of West African States (BCEAO)
Bermuda: Bermuda Monetary Authority
Bhutan: Royal Monetary Authority of Bhutan
Bolivia: Central Bank of Bolivia
Bosnia: Central Bank of Bosnia and Herzegovina
Botswana: Bank of Botswana
Brazil: Central Bank of Brazil
Bulgaria: Bulgarian National Bank
Burkina Faso: Central Bank of West African States (BCEAO)
Burundi: Bank of the Republic of Burundi
Cambodia: National Bank of Cambodia
Came Roon: Bank of Central African States
Canada: Bank of Canada – Banque du Canada
Cayman Islands: Cayman Islands Monetary Authority
Central African Republic: Bank of Central African States
Chad: Bank of Central African States
Chile: Central Bank of Chile
China: The People’s Bank of China
Colombia: Bank of the Republic
Comoros: Central Bank of Comoros
Congo: Bank of Central African States
Costa Rica: Central Bank of Costa Rica
Côte d’Ivoire: Central Bank of West African States (BCEAO)
Croatia: Croatian National Bank
Cuba: Central Bank of Cuba
Cyprus: Central Bank of Cyprus
Czech Republic: Czech National Bank
Denmark: National Bank of Denmark
Dominican Republic: Central Bank of the Dominican Republic
East Caribbean area: Eastern Caribbean Central Bank
Ecuador: Central Bank of Ecuador
Egypt: Central Bank of Egypt
El Salvador: Central Reserve Bank of El Salvador
Equatorial Guinea: Bank of Central African States
Estonia: Bank of Estonia
Ethiopia: National Bank of Ethiopia
European Union: European Central Bank
Fiji: Reserve Bank of Fiji
Finland: Bank of Finland
France: Bank of France
Gabon: Bank of Central African States
The Gambia: Central Bank of The Gambia
Georgia: National Bank of Georgia
Germany: Deutsche Bundesbank
Ghana: Bank of Ghana
Greece: Bank of Greece
Guatemala: Bank of Guatemala
Guinea Bissau: Central Bank of West African States (BCEAO)
Guyana: Bank of Guyana
Haiti: Central Bank of Haiti
Honduras: Central Bank of Honduras
Hong Kong: Hong Kong Monetary Authority
Hungary: Magyar Nemzeti Bank
Iceland: Central Bank of Iceland
India: Reserve Bank of India
Indonesia: Bank Indonesia
Iran: The Central Bank of the Islamic Republic of Iran
Iraq: Central Bank of Iraq
Ireland: Central Bank and Financial Services Authority of Ireland
Israel: Bank of Israel
Italy: Bank of Italy
Jamaica: Bank of Jamaica
Japan: Bank of Japan
Jordan: Central Bank of Jordan
Kazakhstan: National Bank of Kazakhstan
Kenya: Central Bank of Kenya
Korea: Bank of Korea
Kuwait: Central Bank of Kuwait
Kyrgyzstan: National Bank of the Kyrgyz Republic
Latvia: Bank of Latvia
Lebanon: Central Bank of Lebanon
Lesotho: Central Bank of Lesotho
Libya: Central Bank of Libya (Their most recent conquest)
Uruguay: Central Bank of Uruguay
Lithuania: Bank of Lithuania
Luxembourg: Central Bank of Luxembourg
Macao: Monetary Authority of Macao
Macedonia: National Bank of the Republic of Macedonia
Madagascar: Central Bank of Madagascar
Malawi: Reserve Bank of Malawi
Malaysia: Central Bank of Malaysia
Mali: Central Bank of West African States (BCEAO)
Malta: Central Bank of Malta
Mauritius: Bank of Mauritius
Mexico: Bank of Mexico
Moldova: National Bank of Moldova
Mongolia: Bank of Mongolia
Montenegro: Central Bank of Montenegro
Morocco: Bank of Morocco
Mozambique: Bank of Mozambique
Namibia: Bank of Namibia
Nepal: Central Bank of Nepal
Netherlands: Netherlands Bank
Netherlands Antilles: Bank of the Netherlands Antilles
New Zealand: Reserve Bank of New Zealand
Nicaragua: Central Bank of Nicaragua
Niger: Central Bank of West African States (BCEAO)
Nigeria: Central Bank of Nigeria
Norway: Central Bank of Norway
Oman: Central Bank of Oman
Pakistan: State Bank of Pakistan
Papua New Guinea: Bank of Papua New Guinea
Paraguay: Central Bank of Paraguay
Peru: Central Reserve Bank of Peru
Philip Pines: Bangko Sentral ng Pilipinas
Poland: National Bank of Poland
Portugal: Bank of Portugal
Qatar: Qatar Central Bank
Romania: National Bank of Romania
Rwanda: National Bank of Rwanda
San Marino: Central Bank of the Republic of San Marino
Samoa: Central Bank of Samoa
Saudi Arabia: Saudi Arabian Monetary Agency
Senegal: Central Bank of West African States (BCEAO)
Serbia: National Bank of Serbia
Seychelles: Central Bank of Seychelles
Sierra Leone: Bank of Sierra Leone
Singapore: Monetary Authority of Singapore
Slovakia: National Bank of Slovakia
Slovenia: Bank of Slovenia
Solomon Islands: Central Bank of Solomon Islands
South Africa: South African Reserve Bank
Spain: Bank of Spain
Sri Lanka: Central Bank of Sri Lanka
Sudan: Bank of Sudan
Surinam: Central Bank of Suriname
Swaziland: The Central Bank of Swaziland
Sweden: Sveriges Riksbank
Switzerland: Swiss National Bank
Tajikistan: National Bank of Tajikistan
Tanzania: Bank of Tanzania
Thailand: Bank of Thailand
Togo: Central Bank of West African States (BCEAO)
Tonga: National Reserve Bank of Tonga
Trinidad and Tobago: Central Bank of Trinidad and Tobago
Tunisia: Central Bank of Tunisia
Turkey: Central Bank of the Republic of Turkey
Uganda: Bank of Uganda
Ukraine: National Bank of Ukraine
United Arab Emirates: Central Bank of United Arab Emirates
United Kingdom: Bank of England
United States: Federal Reserve, Federal Reserve Bank of New York
Vanuatu: Reserve Bank of Vanuatu
Venezuela: Central Bank of Venezuela
Vietnam: The State Bank of Vietnam
Yemen: Central Bank of Yemen
Zambia: Bank of Zambia
Zimbabwe: Reserve Bank of Zimbabwe
Humansarefree reports:
The Fed and the IRS
Virtually unknown to the general public is the fact that the US Federal Reserve is a privately owned company, siting on its very own patch of land, immune to the US laws.
This privately owned company (controlled by the Rothschilds, Rockefellers and Morgans) prints the money FOR the US Government, which pays them interest for the “favor.” This means that if we would reset the nation’s debt today and would begin reprinting money, we would be in debt to the FED from the very first dollar loaned to our Government.
Also, most people living in the USA have no clue that the Internal Revenue Service (IRS) is a foreign agency.
To be more accurate, the IRS is a foreign private corporation of the International Monetary Fund (IMF) and is the private “army” of the Federal Reserve (Fed).
Its main goal is to make sure the American people pay their tax and be good little slaves.
In 1835, US President Andrew Jackson declared his disdain for the international bankers:
“You are a den of vipers. I intend to rout you out, and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.”
There followed an (unsuccessful) assassination attempt on President Jackson’s life. Jackson had told his vice president, Martin Van Buren:
“The bank, Mr. Van Buren, is trying to kill me.”
This was the beginning of a pattern of intrigue that would plague the White House itself over the coming decades. Both Lincoln and JFK have been murdered for trying to rid the country of banksters.
The world’s Megabanks
There are two Megabanks that offer loans to all the countries around the planet, the World Bank and the IMF. The first one is jointly owned by the world’s top banking families, with the Rothschilds at the very top, while the second one is privately owned by the Rothschilds alone.
These two Megabanks offer loans to “developing countries” and use their almost impossible-to-pay-back interests to get their hands on the real wealth: land and precious metals.
But that’s not all! An important part of their plan is to also exploit a country’s natural resources (like petrol or gas) via their covertly-owned companies, refine them, and sell them back to the same country, making a huge profit.
But in order for these companies to operate optimally, they need a solid infrastructure, which is usually lacking in the so called “developing countries.” So before the banksters even offer the almost impossible-to-pay-back loans, they make sure that most of the money will be invested in — you’ve guessed it — infrastructure.
These “negotiations” are carried out by the so called “Economic Hitmen”, who succeed by handsomely rewarding (i.e. bribing) or threatening with death those who are in the position to sell away their country.
For more information on the subject, I suggest reading the Confessions of an Economic Hitman.
The one bank that rules them all, the “Bank for International Settlement,” is — obviously — controlled by the Rothschilds and it is nicknamed the “Tower of Basel.”
The true power of the Rothschilds goes FAR beyond the Banking Empire
If you are not yet amazed by the power of the Rothschilds (I know you are), please know that they are also behind all wars since Napoleon. That’s when they’ve discovered just how profitable it is to finance both sides of a war and they’ve been doing it ever since.
In 1849, Guttle Schnapper, the wife of Mayer Amschel stated:
“If my sons did not want wars, there would be none.”
So, the world is still at war because it is very, very profitable to the Rothschilds and their parasite bankster bloodlines. And for as long as we will continue to use money, the world will never know peace.
It is shocking for many to find out that the United States of America is a corporation ruled from abroad. Its original name was the Virginia Company and it was owned by the British Crown (it should not be mistaken for the Queen, which functions largely in a ceremonial capacity only).
The British Crown donated the company to the Vatican, which gave the exploitation rights back to the Crown. The US Presidents are appointed CEOs and their business is to make money for the British Crown and the Vatican, who take their share of the profits every year.
The British Crown covertly rules the world from the 677-acre, independent sovereign state, know as The City of London. This other Crown is comprised of a committee of 12 banks headed by the Bank of England. Guess who is controlling the Bank of England? Yup, the Rothschilds!
In 1815, Nathan Mayer made the following statement:
“I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain’s money supply controls the British Empire, and I control the British money supply.”
The House of Rothschild is really at the top of the pyramid of power. They are behind the New World Order and the complete domination of the world agenda. They are behind the European Union and the Euro and they are behind the idea of a North American Union and the Amero. They are controlling all of the world’s secret services and their private army is NATO.
Baxter Dmitry
Baxter Dmitry is a writer at News Punch. He covers politics, business and entertainment. Speaking truth to power since he learned to talk, Baxter has travelled in over 80 countries and won arguments in every single one. Live without fear.
Email: baxter@newspunch.com
Tales from the Conspiratum 