Category: Big Banks


by Dr. KR Bolton, New DawnWaking Times

“The most hated sort [of moneymaking], and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural use of it. For money was intended to be used in exchange, but not to increase at interest. And this term usury which means the birth of money from money, is applied to the breeding of money, because the offspring resembles the parent. Wherefore of all modes of making money this is the most unnatural.” ~Aristotle (384-322 BCE)1

Aristotle’s definition of usury is perhaps the most cogent ever made. Usury, as originally defined, is any money made from a loan. The Christian and particularly Catholic opposition to usury was founded on the dictum in the Gospel of Luke about giving without expecting anything in return, and on the Old Testament precepts against charging interest.

Opposition to usury seems to have been instinctive in many diverse civilisations and cultures, with an intuition it is something unnatural, parasitic and outright sinful. When a civilisation accepts usury as normal business practice, as does Western civilisation, it is symptomatic of an advanced cycle of decay.

The Vedic scripts of ancient India (2000-1400 BCE) call the “usurer” kusidin, a lender charging interest. Brâhmanas (priests) and Kshatriyas (warriors) were prohibited from practicing usury. The Sacred Laws of the Aryas states:

God weighed in the scales the crime of killing a learned Brâhmana against the crime of charging interest; the slayer of the Brâhmana remained at the top, the charger of interest sank downwards.2

As in the Western and Classical civilisations, the definition of usury was compromised over time. By the second century CE the Laws of Manu defined usury as beyond a “legal” interest rate, after which the interest cannot be recovered. The fact there is now a legal rate of interest, rather than an outright prohibition, indicates compromise of the type that arose in Western Christendom and Classical Greece and Rome. Additionally, like the exemption of the Jews from laws on usury under Mediaeval Christendom, the Hindu merchant caste were permitted trade in usury:

To invest money on interest, to be a jeweller, to tend cattle, tillage and trade – these are declared as occupations for the Vaisya caste.3

Siddharta Gautama Buddha offered a more unequivocal stance:

One discerns wrong livelihood as wrong livelihood, and right livelihood as right livelihood. And what is wrong livelihood? Scheming, persuading, hinting, belittling, and charging interest. This is wrong livelihood.4

Plutarch (46–127 CE), in his essay “Against Running In Debt, Or Taking Up Money Upon Usury,” described usurers as “wretched,” “vulture-like,” and “barbarous.” Cato the Elder (234–149 BCE) compared usury to murder. Cicero (106–43 BCE) stated, “these profits are despicable which incur the hatred of men, such as those of… lenders of money on usury.”

Contemporary financial analysts Sidney Homer, who worked for Salomon Bros., and Professor Richard Sylla, in their historical study of interest rates, state that the first known law on the issue was that of Hammurabi, 1800 BCE, during first dynasty Babylonia, who set the maximum rate of interest at 33⅓% per annum “for loans of grain, repayable in kind, and at 20% per annum for loans of silver by weight.”5Sumerian documents, circa 3000 BCE, “show the systematic use of credit based on loans of grain by volume and loans of metal by weight. Often these loans carried interest.”

As early as 5000 BCE in the Middle East, dates, olives, figs, nuts, or seeds of grain were probably lent to serfs, poor farmers, or dependants, and an increased portion of the harvest was expected to be returned in kind…. Earliest historic rates were reported in the range of 20–50% per annum for loans of grain and metal.6

In Greece, 600 BCE, Solon established laws on interest when excessive debt caused economic crisis. Likewise, in Rome the “Twelve Tables” of 450 BCE, establishing the foundations of Roman law, after pervasive debt was causing servitude and crisis, established a maximum interest rate of 8⅓% per annum. When Brutus tried to charge the City of Salmais 48% for a loan, Cicero reminded him that the legal maximum was 12%. The interest rate was often 4%. Some Greek “loan sharks” charged 25% per annum, and even 25% per day.7

In the Old Testament, Jews were prohibited from usury: “Thou shalt not lend upon usury to thy brother; usury of money; usury of victuals; usury of anything that is lent upon usury” (Deut. 23:19). Critically, for history, the Jews were allowed to charge usury to non-Jews: “Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury, that the Lord thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it” (Deut. 23:20)…

more…

http://www.wakingtimes.com/2017/02/23/secret-history-money-power/

 

 

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Resultado de imagem para Newly built Volkswagen Beetles ready for shipping from Hamburg in 1972. Photo by Thomas Hoepker/Magnum

Newly built Volkswagen Beetles ready for shipping from Hamburg in 1972. Photo by Thomas Hoepker/Magnum

Unprecedented growth marked the era from 1948 to 1973. Economists might study it forever, but it can never be repeated. Why?

Newly built Volkswagen Beetles ready for shipping from Hamburg in 1972. Photo by Thomas Hoepker/Magnum

Marc Levinson is an economist, historian and journalist whose work has appeared in The Harvard Business Review, The Wall Street Journal and Bloomberg.com, among others. His latest book is An Extraordinary Time: The End of the Postwar Boom and the Rise of the Ordinary Economy (2016). He lives in Washington, DC.

The second half of the 20th century divides neatly in two. The divide did not come with the rise of Ronald Reagan or the fall of the Berlin Wall. It is not discernible in a particular event, but rather in a shift in the world economy, and the change continues to shape politics and society in much of the world today.

The shift came at the end of 1973. The quarter-century before then, starting around 1948, saw the most remarkable period of economic growth in human history. In the Golden Age between the end of the Second World War and 1973, people in what was then known as the ‘industrialised world’ – Western Europe, North America, and Japan – saw their living standards improve year after year. They looked forward to even greater prosperity for their children. Culturally, the first half of the Golden Age was a time of conformity, dominated by hard work to recover from the disaster of the war. The second half of the age was culturally very different, marked by protest and artistic and political experimentation. Behind that fermentation lay the confidence of people raised in a white-hot economy: if their adventures turned out badly, they knew, they could still find a job.

The year 1973 changed everything. High unemployment and a deep recession made experimentation and protest much riskier, effectively putting an end to much of it. A far more conservative age came with the economic changes, shaped by fears of failing and concerns that one’s children might have it worse, not better. Across the industrialised world, politics moved to the Right – a turn that did not avert wage stagnation, the loss of social benefits such as employer-sponsored pensions and health insurance, and the secure, stable employment that had proved instrumental to the rise of a new middle class and which workers had come to take for granted. At the time, an oil crisis took the blame for what seemed to be a sharp but temporary downturn. Only gradually did it become clear that the underlying cause was not costly oil but rather lagging productivity growth – a problem that would defeat a wide variety of government policies put forth to correct it.

The great boom began in the aftermath of the Second World War. The peace treaties of 1945 did not bring prosperity; on the contrary, the post-war world was an economic basket case. Tens of millions of people had been killed, and in some countries a large proportion of productive capacity had been laid to waste. Across Europe and Asia, tens of millions of refugees wandered the roads. Many countries lacked the foreign currency to import food and fuel to keep people alive, much less to buy equipment and raw material for reconstruction. Railroads barely ran; farm tractors stood still for want of fuel. Everywhere, producing enough coal to provide heat through the winter was a challenge. As shoppers mobbed stores seeking basic foodstuffs, much less luxuries such as coffee and cotton underwear, prices soared. Inflation set off waves of strikes in the United States and Canada as workers demanded higher pay to keep up with rising prices. The world’s economic outlook seemed dim. It did not look like the beginning of a golden age.

As late as 1948, incomes per person in much of Europe and Asia were lower than they had been 10 or even 20 years earlier. But 1948 brought a change for the better. In January, the US military government in Japan announced it would seek to rebuild the economy rather than exacting reparations from a country on the verge of starvation. In April, the US Congress approved the economic aid programme that would be known as the Marshall Plan, providing Western Europe with desperately needed dollars to import machinery, transport equipment, fertiliser and food. In June, the three occupying powers – France, the United Kingdom and the US – rolled out the deutsche mark, a new currency for the western zones of Germany. A new central bank committed to keeping inflation low and the exchange rate steady would oversee the deutsche mark.

Postwar chaos gave way to stability, and the war-torn economies began to grow. In many countries, they grew so fast for so long that people began to speak of the ‘economic miracle’ (West Germany), the ‘era of high economic growth’ (Japan) and the 30 glorious years (France). In the English-speaking world, this extraordinary period became known as the Golden Age…

more…

https://aeon.co/essays/how-economic-boom-times-in-the-west-came-to-an-end

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by Paul Philips, Guest, Waking Times

Like many things — the food industry, the medical-pharmaceutical establishment, the mainstream media – the hidden corporate/bankers who control our governments have also standardized the education system through funding.

Many years ago in the USA, for example, much money was poured into education by the Rockefeller-created National Education Association, with the help of the Carnegie Foundation and later on the Ford Foundation. The result of the efforts of such organisations can be seen worldwide today in the real purpose of the education system which is to teach children and young people: 1) Reward comes from accurate memory recall from heavy repetition. 2) Non-compliance will be punished. 3) Acceptance that ‘truth’ and what is ‘real’ comes from authority.

Thus, the real purpose of the education system is to cultivate conformity and prohibit critical thinking about anything of real importance.

Starting at 4 years old (and what could be a better age to start a mass indoctrination?) and finishing by the time an individual comes out of the education system, some 12 years plus on, children have had more than their fair share of programming and brainwashing, and as a result are unable to really think for themselves. Moreover, any genuine outside-of-the-box thinking with significant potential humanitarian or Mother Earth-friendly benefit is ignored, quashed, ridiculed or suppressed by the influence of those hidden controllers if it is perceived as a threat to any of their businesses.

But, as Einstein said, ‘real thinking is to think the unthinkable…’

Introducing the ‘Unsung Heroes’

The following is a list of just some of history’s truly great humanitarian outside-of-the-box thinkers, with their innovative ideas/products that have never been able to see the light of day (due to the above reasons.)

Raymond Rife

Raymond Rife (1888-1971) and his Universal Microscope for curing cancer.

After successfully curing a number of cancer patients the Rockefeller owned American Medical Association (AMA) later had this work laid down to rest by closing down Rife’s set ups and seizing his equipment:

Essentially Rife refused to hand over the rights of his work to the AMA because he saw moneyed interests as hidden ulterior motives – that his the cancer curing machine would not be allowed to the world at large because the AMA and the medical/pharmaceutical establishment did not want patients’ cured.

That would mean customers lost and no more revenue for the cancer industry, so instead they push out real cures, and keep coming up with toxic treatments that never cure, instead create further symptoms (side effects) guaranteeing the cancer returns and thus repeat business until the patient eventually dies an unnecessarily harsh death.

After years of ensuing court cases with the ‘big boys’ of the cancer establishment, with little money to exist on, Rife exiled in Mexico to avoid imprisonment in the USA. He later died of alcoholism, a brilliant, but defeated man. The pressures of harassment related to the legal battles and constant threat of imprisonment had been too much for him.

The Associated Press: Apparatus of San Diegan Seen as Boon to Medical World

Linus Pauling

Pauling had worked with Matthias Rath and they came up with a unified approach to curing heart disease. (1901-1994) – ‘Unified Theory’ cure for heart disease.

Essentially, they found that heart disease is the result of a long-term vitamin C deficiency. The solution is to treat patients with frequent high doses (e.g. 6g/day) of vitamin C while using the amino acids lysine and proline to remove the atherosclerotic plaque lining the inner walls of the blood vessels that cause a narrowing or blocking of the lumen (space) of the blood vessels which is responsible for restricting blood flow and cardiovascular disease.

However, due to greater interests in corporate profitability and perceived financial threat, this highly successful cheap alternative therapy has not been allowed that much attention.

 

 

Nikola Tesla

Multi-talented Tesla cut across many disciplinary boundaries. His genius gave rise to a number of world-changing inventions. Nikola Tesla (1856-1943) – Wardenclyffe Tower Project free energy.

One of his most famous experiments /inventions was the Wardenclyffe Tower Project. It was Tesla’s attempt to provide everyone on the globe with free energy through harnessing electricity from the Earth’s ionosphere by means of the towers. Without wires the towers could transmit the harnessed electricity to ground-level areas requiring it…

However, Tesla’s funding was stopped. His equipment and lab was burned down together with the related intellectual property because it posed a threat to undercutting the cost of the conventional electricity grid system. If Tesla’s Wardenclyffe Tower Project had been allowed to flourish and not be destroyed then today we could well be living in a utopia.  Tesla died a poverty-stricken lonely and forgotten man in New York City.

TIME Magazine Cover: Nikola Tesla – July 20, 1931

Wilhelm Reich

Wilhelm Reich (1897-1957) – Drought-breaking weather control.

Wilhelm Reich built an instrument he called the cloudbuster which successfully induced weather change. It has been used to break many droughts by producing clouds that make rain.

This workable mechanism for making rainclouds for crop irrigation in drought areas was stopped by those ever watchful lackeys for the ruling elite.

 

Allowing something like this could lead to food abundance and greatly contribute to ending world hunger. However, the controllers don’t want world hunger to end. If this happened it would make it more difficult to control people in what would no longer be third world countries. .. Don’t forget, their hidden enslavement agenda

Consequentially Reich was hounded by the likes of the FDA (Food and Drug Administration) having accused him of fraud and deception with his cloudbuster instrument. His equipment was seized and destroyed. His last days were spent in prison where it was claimed that he died of a heart attack

more…

http://www.wakingtimes.com/2017/02/16/another-brick-wall-modern-education-system-deception/

 

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Resultado de imagem para The great cryptocurrency heist

image edited by Web Invesigator

Blockchain enthusiasts crave a world without bankers, lawyers or fat-cat executives. There’s just one problem: trust

E J Spode writes on topics at the intersection of science, politics and popular culture. He has been published by 3:AM Magazine, which is currently serialising his novel The Oddity.

On 20 July 2016, something happened that was arguably the most philosophically interesting event to take place in your lifetime or mine. On that day, after much deliberation and hand-wringing, in the aftermath of a multimillion-dollar swindle from his automated, algorithm-driven, supposedly foolproof corporation, Vitalik Buterin, then 22 years old, announced the ‘hard fork’ of the cryptocurrency Ethereum. By making that announcement, Buterin shattered certain tightly held assumptions about the future of trust and the nature of many vital institutions that make modern life possible. He also really pissed off a lot of people.

How? Well, to understand all that, first we need to talk about trust and its place in the fabric of our lives. Trust seems to be in short supply these days, although we have no choice but to rely on it. We trust schools and babysitters to look after our children. We trust banks to hold our money and to transfer it safely for us. We trust insurance companies to pay us should we meet with some disaster. When we make a large purchase – such as a house – we trust our solicitors or an escrow company to hold the funds until the transaction is complete. We trust regulators and governments to make sure these institutions are doing what they are supposed to be doing.

Sometimes, however, our system of trust fails us. There are runs on banks. People lose faith in currencies issued by nation-states. People stop trusting their political institutions because of the chicanery, short-sightedness and general incompetence of the self-interested clowns running the show. The response to this widespread erosion of trust has been varied, ranging from Donald Trump’s (hypocritical) pledge to ‘drain the swamp’, to the promise of so-called ‘blockchain technology’ and its associated cryptocurrencies.

The blockchain is the key to understanding Buterin’s project. A good way to wrap our minds around the concept is to think of its most famous application: Bitcoin. And the best way to think about Bitcoin is not in terms of coins at all but rather as a giant ledger.

Imagine a world in which we didn’t exchange currency, but kept track of who had what on a huge public spreadsheet, distributed across the internet. Every 10 minutes, all the transactions that took place in that slice of time are fused together into a single block. Each block includes a chain linking it to previous blocks, hence the term ‘blockchain’. The end result is a universal record book that reliably logs everything that’s ever happened via a (theoretically) tamper-proof algorithm. We don’t need to trust human bankers to tell us who owns what, because we can all see what’s written in the mathematically verified blockchain.

But Bitcoin is just one version of the blockchain. The fundamental technology has the potential to replace a much wider range of human institutions in which we use trust to reach a consensus about a state of affairs. It could provide a definitive record for property transfers, from diamonds to Porsches to original Picassos. It could be used to record contracts, to certify the authenticity of valuable goods, or to securely store your health records (and keep track of anyone who’s ever accessed them).

But there’s a catch: what about the faithful ‘execution’ of a contract? Doesn’t that require trust as well? What good is an agreement, after all, if the text is there but people don’t respect it, and don’t follow through on their obligations? Which brings us back to the crucial matter of how Buterin managed to piss off so many people.

In the beginning, Buterin was a hero to the crusaders against trust. In late 2013, at the age of 19, he wrote a document, known as the ‘Ethereum White Paper’. In it, he observed that you could hypothetically use the blockchain to store and execute computer programs – hypothetically, any computer program. This gave rise to Ethereum: a blockchain-based platform that supported self-executing contracts. The commands to execute the contract were built into the contract itself, and the contract was sealed into the (supposedly) immutable and universally visible blockchain. No trust necessary. Or so the story went.

This had extraordinary implications – one of which was that entire corporations could be encoded in the blockchain in the form of ‘decentralised autonomous organisations’ (DAOs). None of the usual trusted business partners would be required: employees, managers, human resources officers, CFOs and CEOs would be rendered otiose. No longer would shareholders need to pay massive bonuses to hedge-fund executives ‘trusted’ to make decisions about our money. In theory, at least, those executives could be replaced by a bundle of transparent, pre-set instructions stored in the blockchain.

About 11,000 people ponied up a total of $150 million to take part. What had they purchased, exactly?

On the back of a wave of excitement, Ethereum’s currency, known as ‘ethers’, went up for pre-sale in the summer of 2014. Ethers would serve a dual function as both the ‘fuel’ that powered the computations on the network, and as a medium of exchange, like bitcoins. In short order, the value of ethers started to climb, and the platform reached a ‘market capitalisation’ of around $1 billion after the pre-sale. (Full disclosure: I participated as an investor at this initial stage but have since liquidated my holdings.)…

more…

https://aeon.co/essays/trust-the-inside-story-of-the-rise-and-fall-of-ethereum

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by Makia Freeman, Contributor, Waking Times

The cashless agenda has taken a giant leap forward worldwide in the last 2 months, mainly due to Indian Prime Minister Narendra Modi. Modi took the bold, detested and despised step of banning the 2 highest denomination notes in India (the 500 and 1000 rupee notes, worth around US$7.50 and $15 respectively). This wiped out around 80% of the value of circulating cash widely used by many segments of society for trade. His reason was to cut down on the black money circulating in India upon which tax is not paid. However, from the broader perspective of the worldwide New World Order (NWO) conspiracy, converting the entire world economy to solely digital transactions is not just about extracting more tax revenue from the ruled populations; it’s about knowledge and power. It’s about surveillance on an extraordinary scale. The cashless agenda is about acquiring the capacity to monitor literally every single financial transaction that takes place on the planet.

Unsurprisingly, the new cash ban hurt many poor Indians who either don’t have a bank account or who rarely use one. Also unsurprisingly, the idea for the ban did not originate from Modi. The truth is that India is being used as the latest guinea pig to push forth the NWO cashless agenda, and a particular US Non-Governmental Organization (NGO) was instrumental in the rollout.

American NGO USAID Behind India Cash Ban

In an earlier article NGOs: Choice Tool of Subversion for the New World Order, I described how NGOs have become tools of infiltration and subversion to conduct soft coups or soft overthrows of democratically elected foreign governments. NGOs are the perfect way to destroy an enemy nation from within. By gaining inside access to that nation, an NGO can disseminate all sorts of lies and propaganda to weaken people’s faith in their leaders or their political system. NGOs can also fund “people’s” revolutions (i.e. color revolutions) to make it look like a foreign-orchestrated overthrow is a domestic grassroots uprising – just ask George Soros about that one. For this reason, some nations such as Russia, China and Israel have restricted or banned foreign NGOs from operating on their shores.

In the case of India, there are clear signs that the cash ban was planned in advance by the nefarious United States NGO USAID (instrumental in the bloody Ukraine Maidan coup of 2014). I give a hat tip to Norbert Häring, author of the recent article A well-kept open secret: Washington is behind India’s brutal experiment of abolishing most cash, who outlines how USAID was actively conspiring with the Indian Ministry of Finance to push forward the cashless agenda. He writes:

USAID had announced the establishment of „Catalyst: Inclusive Cashless Payment Partnership“, with the goal of effecting a quantum leap in cashless payment in India. The press statement of October 14 says that Catalyst “marks the next phase of partnership between USAID and Ministry of Finance to facilitate universal financial inclusion”. The statement does not show up in the list of press statements on the website of USAID (anymore?). Not even filtering statements with the word “India” would bring it up. To find it, you seem to have to know it exists, or stumble upon it in a web search. Indeed, this and other statements, which seemed rather boring before, have become a lot more interesting and revealing after November 8.”

So on top of actively pushing India into the cashless agenda, looks like USAID is also covering their tracks and trying to hide it.

Catalyst is the Catalyst …

So basically the New World Order, via the US Government and USAID, had decided that India would be the next country in which it would roll out the cashless agenda, so it set up this new organization Catalyst to disguise the non-Indian interests behind the scheme. Häring points out the big NWO players behind Catalyst:

Who are the institutions behind this decisive attack on cash? Upon the presentation of the Beyond-Cash-report, USAID declared: “Over 35 key Indian, American and international organizations have partnered with the Ministry of Finance and USAID on this initiative.” On the website catalyst.org one can see that they are mostly IT- and payment service providers who want to make money from digital payments or from the associated data generation on users. Many are veterans of what a high-ranking official of Deutsche Bundesbank called the “war of interested financial institutions on cash” … They include the Better Than Cash Alliance, the Gates Foundation (Microsoft), Omidyar Network (eBay), the Dell Foundation Mastercard, Visa, Metlife Foundation.”

Häring also points at some other key people and groups behind the war on cash in India:

“Raghuram Rajan at the helm of Reserve Bank of India from September 2013 to September 2016 … had been, and is now again, economics professor at the University of Chicago. From 2003 to 2006 he had been Chief Economist of the International Monetary Fund (IMF) in Washington. (This is a cv-item he shares with another important warrior against cash, Ken Rogoff.) He is a member of the Group of Thirty, a rather shady organization, where high ranking representatives of the world major commercial financial institutions share their thoughts and plans with the presidents of the most important central banks, behind closed doors and with no minutes taken. It becomes increasingly clear that the Group of Thirty is one of the major coordination centers of the worldwide war on cash. Its membership includes other key warriers like Rogoff, Larry Summers and others.”

Astute readers will see a familiar theme here cropping up once again. In my recent article International Fact-Checking Network: New Worldwide Ministry of Truth?, I discussed how Bill Gates (the Gates Foundation) crops up seemingly everywhere in NWO agendas such as censorship, vaccines, GMOs, Common Core education, transhumanism, eugenics, depopulation and now in the cashless agenda too. Pierre Omidyar (Omidyar Network) also got a mention in the same article as being one of the funders of the new organization IFCN poised to become a sort of Ministry of Truth. The IMF is a Rothschild tool and a harbinger of NWO One World Bank. Larry Summers was one of the guys under Obama who oversaw the “bailout”, “stimulus” or daylight robbery of the American people that took place in 2009 – but he was apparently much more worried about what Goldman Sachs would think. The Group of Thirty is a think tank of international bankers funded by – guess who – the Rockefeller Foundation.

Everywhere you look in the worldwide conspiracy, it’s the same players, the same themes and the same one agenda (through its many facets) for total domination.

Venezuela, Sweden, Australia, Greece – Everyone Joining In On the Cashless Agenda

It’s not just India. The cashless agenda is being pushed worldwide. Recently President Maduro of Venezuela announced he was going to ban the 100 bolivar note, the nation’s largest currency denomination. The pretext is essentially the same each time: to supposedly stop crime and make it harder for criminals who deal only in cash. Maduro said:

“There has been a scam and smuggling of the one hundred bills on the border with Colombia, we have tried the diplomatic way to deal with this problem with Colombia’s government; there are huge mafias.”

However as Jeff Berwick (Dollar Vigilante) points out, this is a false argument. There is no true correlation between high crime rates and high demonization bills in circulation:

“The trouble here is that removing bills doesn’t fight crime. At least one recent study shows countries with the largest currency denominations actually have the lowest crime rates. Take for instance a country like Japan which is praised for its low crime rates and has a 10,000 yen note worth around $85 as of today.

Switzerland is a prime example of the opposite end of the spectrum because not only does it have a 1,000 Swiss franc note worth roughly $1,000 USD and one of the lowest crime rates in the world, but unlike Venezuela where guns are outlawed and violence is rampant, 1 in 2 Swiss people are gun owners.”

Meanwhile Sweden has completely jumped on board the cashless agenda. The Nordic nation is on the fast track to become the first totally cashless society, as the Guardian reports:

“According to central bank the Riksbank, cash transactions made up barely 2% of the value of all payments made in Sweden last year – a figure some see dropping to 0.5% by 2020. In shops, cash is now used for barely 20% of transactions, half the number five years ago, and way below the global average of 75%.

And astonishingly, about 900 of Sweden’s 1,600 bank branches no longer keep cash on hand or take cash deposits – and many, especially in rural areas, no longer have ATMs. Circulation of Swedish krona has fallen from around 106bn in 2009 to 80bn last year.”

Australia has also joined the cashless bandwagon with some recent and shameless propaganda. Check this video of a supposedly cool, unshaven guy throwing stats at you and trying to convince you that you don’t need the $100 note any more. X22 Report has also just reported that Greece is initiating a soft cash ban. They are mandating that you spend 10% of your expenditures in digital currency! So the government is telling you in what format you must spend your money – and Greeks are getting penalized for not spending in this manner. Wow. The tyranny is just so blatant.

2017 is the Year when the War on Cash Will Accelerate

You don’t need to be an oracle to see that the war on cash is intensifying and accelerating rapidly across the world. It is a key part of the New World Order agenda, because it removes some of the last vestiges of privacy and anonymity that we still have in today’s world. Without the ability to freely transact anonymously with cash, our freedom is greatly restricted, because so much of our life revolves around the use of money: spending habits, income, expenditures, amount of tax paid, etc. To know someones’ complete financial history and current position is to have great power over them.

It seems the NWO manipulators are attempting to cement the cashless agenda in place before the world becomes too much more awake, aware and conscious. Will they succeed? Only time will tell, but there is still time to stop this agenda in its tracks if we spread enough awareness about it.

 

About the Author

Makia Freeman is the editor of The Freedom Articles and senior researcher at ToolsForFreedom.com (FaceBook here), writing on many aspects of truth and freedom, from exposing aspects of the worldwide conspiracy to suggesting solutions for how humanity can create a new system of peace and abundance

**Sources embedded throughout article.

Like Waking Times on Facebook. Follow Waking Times on Twitter.

This article (New World Order Pushing Cashless Agenda in India and Around the World) was originally created and published by The Freedom Articles and is re-posted here with permission. 

http://www.wakingtimes.com/2017/01/10/new-world-order-pushing-cashless-agenda-india-around-world/

 

 

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It is my contention here that Capitalism is a fatal delusion, and adherence to it without question is tantamount to willingly signing a species-wide death warrant.

Capitalism as we know it in the modern world is based on the assumption that there must be infinite growth, which on a finite planet means total consumption, total exhaustion of all resources that can be monetized.

Under a capitalist system, the highest goal of man is to increase his desires infinitely, in order to produce the desired goal of infinite growth. By increasing his desires infinitely, man also increases his sufferings infinitely.

As capitalism is forged on the basis of two delusions, one, that there can be infinite growth in a finite closed system, and two, that the highest aim of man is to infinitely increase his desires; we may say that to defend this system is to willingly subscribe to a suicidal form of madness.

Simply put, man will never be genuinely happy under the system of capitalism, for he is living a lie and calling it truth. There is no degree of enjoyment to be derived from the process of capitalism that is not logically offset by the inevitable cost of extinction it produces.

The history of the Western world, and of the world in general, is a history of man falling prey to the delusion that his living conditions are at base inadequate and must therefore be remedied through effort, technics and the creation of “solutions” to his “problems.”

It is almost as if somewhere in our distant past, an individual was struck by a thought in the back of his head that he couldn’t quite put his finger on, that perhaps somewhere something was a little bit wrong or off, and so he set about trying to discover this “problem” in the external world, and began to devise peculiar strategies for doing so.

In doing so, he creates more problems in the process, and must then turn his attention to solving those problems additionally, and so on. The basic illusion here is that there was ever anything “wrong” to begin with. The attitude that nature is “out of line” so to speak is itself perhaps the only example of nature being “out of line.” It is like a feedback loop of sorts, producing a painful shriek from a situation of far too much self-consciousness.

And so man has, down through the ages, chased the tail of happiness, presuming that it was anywhere but right here and now. Capitalism is just the latest form of this primal delusion, that the world is in error, and we may see it then as an extension of the Christian notion that the World is a sinful place, to be overcome, changed, or transcended.

And, ironically enough, all forms of this particular delusion do in fact create a situation of base unhappiness and unsatisfactoriness out of which their proposed solutions can rise. We see this in capitalist societies, which must necessarily produce poor millions so that we can recognise a rich few. We see it in Christian societies, where even the joy of making love has been reduced to pure mechanics, and distasteful mechanics at that.

So one should distrust any system of thought that seeks to alter what is basically a situation of harmony out of the spurious and unproven notion that it is inherently disharmonious, or the notion that there’s some pot of gold at the end of the rainbow. No-one can give a compelling argument to show why the problems that preceded us prior to these attempts at fixing the world were in fact considerably worse than those problems we have brought into existence through the act of trying to solve them.

Capitalism, and Christianity, among other worldviews, are attempts to bring under control the wiggly world, and we assume that this is what we have wanted all along. But a world completely under our control is like a game we have already finished playing: there is no surprise, no spontaneity, and as such it is as though we have already completed it. All events where the outcomes are known completely in advance may be said to have already happened. And so through trying to exercise total control, we ruin the fun of existence for ourselves, and make the world into a plastic sex doll instead of a real, intelligent, living woman. Through science, and particularly the bizarrely certain forms of scientism that are appearing more commonly today, we are slowly trending towards the same phenomena of rendering existence pointless through explaining it all and putting it under our technological thumb, turning the cosmos into dead knowledge, in many cases, rather than a living mystery.

What we need is, as a culture, to be honest with ourselves once more, and admit that no amount of material control is worth the cost of total boredom. No amount of shiny new playthings are worth the reality of child labour. No economic system can be said to work if it creates poverty as a matter of course, if it blindly trends towards total consumption of all things.

None of us genuinely want this to continue, so let’s just play a different game. As for what that is, well, finding out is half the fun.

http://disinfo.com/2017/01/capitalism-happiness-whos-fun/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+disinfo%2FoMPh+%28Disinformation%29

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cashless

Dylan Charles, Editor
Waking Times 

“Every revolution needs a good crisis in order to germinate its seed. The cashless revolution is no different.” ~Patrick Henningsen

Depending on who you ask, the idea of a cashless society is either a utopia of modern convenience or an Orwellian nightmare, but recent international events coupled with stories about ATM cyber-hacks are fair signals that a major push for the cashless society is underway and will intensify.

“It seems the acceleration toward a cashless society is becoming like one of an amusement arcade amid the range of novel payment devices coming onto the market. These innovative payment devices are yet another novelty enticing customers toward fully traceable and trackable digital transactions, indeed cultivating user familiarity with a variety of cashless and contactless methods of payment.” ~Steven Tritton

In India, the government just banned the use of two of the most commonly used bank notes, the 500 and 1000 rupee notes (worth about US$7 and $14 respectively), and is reportedly making a move to restrict gold imports. Citibank in Australia just announced that it would no longer accept coins or notes, opting instead for digital transactions only. Denmark, however, may be the first country to go fully cashless, as its government has already begun implementing a program to move retailers off of cash, with the openly stated endgame of creating a fully cashless society.

A cashless society is “no longer an illusion but a vision that can be fulfilled within a reasonable time frame,” said Michael Busk-Jepsen, executive director of the Danish Bankers Association. [Source]

Is Resistance Futile, or Just Inconvenient?

To some, convenience and trendiness are the greatest selling points of a digital currency, but in order to make it obligatory for everyone, there must be a public safety threat included in the sales pitch, so that the government can claim that it is acting in our best interests when they force us to accept a digital currency.

Because an all out ban on coins and bank notes is not something that would not be unanimously acceptable, to push for such a drastic societal and cultural change, a predictable game plan is being used. It’s the simple dialectic of problem, reaction, solution.

We saw this in play as the threat of terrorism was used to fundamentally change the bill of rights and open the door for the creation of a surveillance and police state. We are seeing this in play right now as the push to control information has been introduced as a war on so-called fake news. Now, tell-tale signs are now emerging that the same type of media push is underway to make cash seem like a risky inconvenience in the modern technological world.

False Flags in the War on Cash

Consider the following stories, which foreshadow a coming public relations campaign to warn that developments in cyber warfare make the distribution of cash via ATM’s too risky to continue.

This first report from Reuters covers ATM attacks in Europe:

Cyber criminals have remotely attacked cash machines in more than a dozen countries across Europe this year, using malicious software that forces machines to spit out cash, according to Russian cyber security firm Group IB.

Diebold Nixdorf and NCR Corp, the world’s two largest ATM makers, said they were aware of the attacks and have been working with customers to mitigate the threat. The newly disclosed heists across Europe follow the hacking of ATMs in Taiwan and Thailand that were widely reported over the summer.

Although cyber criminals have been attacking cash machines for at least five years, the early campaigns mostly involved small numbers of ATMs because hackers needed to have physical access to cash out machines.

The recent heists in Europe and Asia were run from central, remote command centers, enabling criminals to target large numbers of machines in “smash and grab” operations that seek to drain large amounts of cash before banks uncover the hacks.

“They are taking this to the next level in being able to attack a large number of machines at once,” said Nicholas Billett, Diebold Nixdorf’s senior director of core software and ATM Security. “They know they will be caught fairly quickly, so they stage it in such a way that they can get cash from as many ATMs as they can before they get shut down.” [Source]

On November 20th, 2016, the Wall Street Journal reported on the following attacks in Asia, under the headline, “Hackers Program Bank ATMs to Spew Cash – After crimes in Taiwan and Thailand, the FBI warns of similar potential attacks in U.S.”

“In Taiwan and Thailand earlier this year, the criminals programmed bank ATMs to spew cash. Gang members stood in front of the machines at the appointed hour and collected millions of dollars.

Earlier this month, the Federal Bureau of Investigation warned U.S. banks of the potential for similar attacks. The FBI said in a bulletin that it is “monitoring emerging reports indicating that well-resourced and organized malicious cyber actors have intentions to target the U.S. financial sector.”” [Source]

Of key significance is the warning that large-scale attacks on ATM’s are imminent in the United States. This will be pitched as a problem that must be solved by the cashless society, with every corner of our financial lives being watched over by the very banking system that is already plundering our economy and making debt slaves out of our posterity.

A brief primer on the concerns of centrally managed digital currencies in a cashless society:

“Liberated from the burden of physical currency, consumers could make purchases from the convenience of a mobile device. Every transaction would come equipped with fraud protection, reward points and a digital record of its time and location. Comprehensive tracking could help the Internal Revenue Service reclaim billions of tax dollars lost to unreported income, like the $80 I made selling a used refrigerator on Craigslist. Drug dealers, helpless without an anonymous medium of exchange, would acquire wholesome professions. El Chapo might become a claims adjuster.

But this universe is missing one of the fundamental aspects of human civilization. A world without paper money is a world without money. Money belongs to its current holder. It doesn’t matter if a banknote was lost or stolen at some point in the past. Money is current; that’s why it’s called currency! A bank deposit, however, grants custody of money to the bank. An account balance is not actually money, but a claim on money.

This is an important distinction. A claim is only as good as its enforceability, and in a cashless society every transaction must pass through a financial gatekeeper. Banks, being private institutions, have the right to refuse transactions at their discretion. We can’t expect every payment to be given due process.” ~Elaine Ou

Time.com reported on the move to ban large US and Euro bills by 2018, citing the need to reduce crime, making the following statement:

“Large currency denominations are associated with crime. They also make it easier to withdraw large cash sums from banks.” [Source]

As if withdrawing cash from a bank is a criminal act. As if holding any or all of your earnings in your hand is a criminal act. As if having a way to protect ourselves from inflation and currency manipulation is a crime. As if we can ever have a crime free world when we are governed and ruled over by the biggest criminals the world has ever seen.

About the Author
Dylan Charles is a student and teacher of Shaolin Kung Fu, Tai Chi and Qi Gong, a practitioner of Yoga and Taoist arts, and an activist and idealist passionately engaged in the struggle for a more sustainable and just world for future generations. He is the editor of WakingTimes.com, the proprietor of OffgridOutpost.com, a grateful father and a man who seeks to enlighten others with the power of inspiring information and action. He may be contacted at wakingtimes@gmail.com.
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This article (Problem, Reaction, Solution – How the Government Will Take Your Cash) was originally created and published by Waking Times and is published here under a Creative Commons license with attribution to Dylan Charles and WakingTimes.com. It may be re-posted freely with proper attribution, author bio, and this copyright statement.

http://www.wakingtimes.com/2016/11/23/problem-reaction-solution-government-will-take-cash/

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The debt level is more than twice the size of the global economy and unprecedented as a proportion of GDP, the Fund says

The IMF in its new report says the world faces a ‘vicious feedback loop’ where lower growth makes it difficult to reduce borrowing.
The IMF says the world faces a ‘vicious feedback loop’ where lower growth makes it difficult to reduce borrowing. Photograph: Shawn Thew/EPA

The International Monetary Fund has urged governments to take action to tackle a record $152tn debt mountain before it triggers a fresh global financial and economic crisis.

Warning that debt levels were not just high but rising, the IMF said it was vital to intervene early in order to mitigate the risks of a repeat of the damaging events that began with the collapse of the US sub-prime housing bubble almost a decade ago.

It said that new research in its half-yearly fiscal monitor covering 113 countries had shown that debt was currently 225% of global GDP, with the private sector responsible for two-thirds of the total.

Vitor Gaspar, the director of the IMF’s fiscal affairs department said: “$152tn is a record high. In places around the world we have excessive debt. In some places we have debt, in particular non-financial corporations’ debt, growing very fast.

“A crucial message from the fiscal monitor is that when private debt is on an unsustainable path it is important to intervene early on in the process to make sure financial crises and recessions can be prevented.”

The IMF says fiscal policy, the power governments have over tax and spending, could help. It suggests government-led programmes to restructure debt and tax breaks to persuade creditors to lengthen repayment periods.

Central banks have borne the brunt of attempts to boost growth for the past eight years, but the IMF said more active use of fiscal policy would provide a better mix. Excessive private debt was making global recovery more difficult and had increased the risk of financial instability. Rapid rises in private debt often led to financial-sector triggered recessions which were longer and deeper than normal downturns.

Gaspar said debt was unevenly spread and concentrated in the advanced countries of the west and some of the big emerging market economies such asChina. He advised countries where it posed a risk to financial stability to be proactive and intervene early.

The IMF’s report shows that the overall debt level has not fallen since the financial crisis and recession of 2007-09, despite the fact that the most severe downturn of the post-war era was the consequence of too much reckless borrowing.

Debt levels were high at the end of the second world war, but decades of strong growth and moderate inflation led to a steady decline in debt to GDP ratios.

Gaspar said that the reason debt levels were now higher than they were before the 2007-09 crisis was that economic growth had been so weak. Faster US expansion since the crisis had resulted in a much sharper decline in private indebtedness than in the eurozone, he added.

Some countries, including the UK, have seen a decline in non-financial private sector debt since the world economy fell into recession in 2008. But the IMF expressed concern about the rapid growth of China’s private sector debt to GDP ratio, up 70 percentage points between 2008 and 2015.

“China is so large and the debt of non-financial corporations is growing so fast that it is having significant effects on global trends,” Gaspar said.

https://www.theguardian.com/business/2016/oct/05/world-debt-has-hit-record-high-of-152tn-says-imf

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by Pedro Aquila, Staff Writer, Waking Times

The Forbes billionaire list is perhaps the most mainstream source for who the wealthiest individuals in the world are, yet, some prefer to believe in this list as the authority on wealth. How close is this to the truth?

Within the inherent characteristics of the world monetary system, we have myriad forms of stock ownership, banks and hedge funds owning corporations, banks pulling strings for entire monetary systems, obfuscating who actually owns what. The entire system is awash in practices which conceal who the most influential and wealthy individuals, hedge funds, corporations, and powers are.

As an example, Renaissance Technologies is a hedge fund that owns a large stake in pharmaceutical corporation Johnson & Johnson. Renaissance CEO Peter Brown is actually on the Forbes list, and he is married to ex-FDA commissioner Margaret Hamburg. Through the obfuscated ownership of J&J, Renaissance Technologies co-chief executive’s wife Margaret Hamburg was able to function as a revolving door between government and big pharma, as she was FDA commissioner from 2009- 2015, involved a racketeering conspiracy to ensure the profits of Johnson & Johnson.

The more one looks into it, the more wealth in this world appears to be intentionally obfuscated.

This article will examine 4 factors that imply the wealthiest individuals and entities on this planet are in fact unknown to the public, and that the ones we know to be wealthy are more or less wealthy than we are led to believe.

1. Deutsche Bank is being charged for market manipulation in Italy: massive bank may fall, and Rothschilds are buying gold.

Economic collapse is again hitting the headlines, with German Deutsche Bank centerstage (the massive bank with a long, corrupt history including involvement in a German oil pipeline in Baghdad which was central to World War I).

Deutsche Bank may go under, with comparisons to the 2007 financial crisis and Lehman Brothers being drawn.

Rothschild family members are some of the most notorious suspects when it comes to the hidden wealthiest people on Earth: in response to the Deutsche Bank situation, they are buying gold, an ominous “warning” for the rest of us.

As reported by The Free Thought Project, “Rothschild Doubles Down on Gold as Banking Collapse Begins, Germans Told to Stockpile Food/Water:”

“The most prominent bank in Germany is at risk of imminent collapse, with potentially profound effects for the EU, the United States and the rest of the world. The prospect of a cataclysmic global banking collapse of this nature has not been seen since the implosion of Lehman Brothers in 2008, and subsequent fallout in the global banking world.

But these events haven’t taken place in a vacuum, as earlier this year savvy international investor Lord Jacob Rothschild, during a semi-annual address to RIT Capital Partners, announced that they are reducing stock market and currency exposure and increasing their gold holdings, warning that the world is now in “uncharted waters” and the consequences are “impossible” to predict.”

Zero Hedge reports, “Deutsche Bank Charged By Italy For Market Manipulation, Creating False Accounts”:

“One day after its stock soared from all time lows, following what so far appears to have been a fabricated report sourced by AFP which relied on Twitter as a source that the DOJ would reduce its RMBS settlement amount with Deutsche Bank from $14 billion to below $6 billion (and which neither the DOJ nor Deutsche Bank have confirmed for obvious reasons), moments ago Bloomberg reported that six current and former managers of Deutsche Bank, including Michele Faissola, Michele Foresti and Ivor Dunbar, were charged in Milan for colluding to falsify the accounts of Italy’s third-biggest bank, Monte Paschi (which itself is so insolvent it is currently scrambling to finalize a private sector bailout) and manipulate the market.”

Fabricated reports sprinkled into a situation where the bank is going under, and on top of that they are being charged for fraud in Italy: a plethora of falsehoods illustrating exactly how money works.

2. Wachovia Bank (now owned by Wells Fargo) laundered billions for Mexican drug cartels, nad was fined less than 2% of annual profit.

If a person pays attention to the scandalous activities of powerful entities beneath the surface level, they start to notice inconsistencies that obliterate the entire mainstream perception of that entity or industry, ushering in a bottomless pit of potential criminality, expanding the realm of probable corruption into deeply unknown territory.

In other words, if the scandals we hear about are this intense, how perception shattering is what we still don’t know?

According to an article by Andrew Gavin Marshall titled “Wells Fargo: Your Neighborhood Mega-Money Laundering, Drug War Profiteering, Prison-Industry Enlarging Bank”:

“Wells Fargo is one big elite networking operation that’s not afraid to get its hands covered in blood money.

Just recently, in late July, Wells Fargo surpassed the Industrial and Commercial Bank of China (ICBC) as the world’s largest bank by market capitalization. This followed Wells Fargo reporting a 19% increase in profits over the second quarter as the bank has been busy consolidating the housing market while other big banks have retreated from it. Wells Fargo had amassed a share of almost 40% of the U.S. mortgage market by early 2013.”

According to the Guardian:

“Wachovia was acquired by Wells Fargo during the 2008 crash, just as Wells Fargo became a beneficiary of $25bn in taxpayers’ money.

‘Wachovia’s blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations,’ said Jeffrey Sloman, the federal prosecutor. Yet the total fine was less than 2% of the bank’s $12.3bn profit for 2009. On 24 March 2010, Wells Fargo stock traded at $30.86 – up 1% on the week of the court settlement.

The conclusion to the case was only the tip of an iceberg, demonstrating the role of the “legal” banking sector in swilling hundreds of billions of dollars – the blood money from the murderous drug trade in Mexico and other places in the world – around their global operations, now bailed out by the taxpayer.”

3. Money from Afghanistan’s US-tied opium trade goes unaccounted for.

How much money is being made in the Afghanistan opium trade (now the source of 90% of the world’s supply of heroin), and how is the US profiting by clearly aiding in the growth of this corrosive industry? Who exactly is becoming rich?

According to an article from Pravda:

“US government installed Hamid Karzai, CIA agent, as Afghanistan’s President in 2002 to restore the drug trade. Ahmed Wali Karzai, heroin dealer, was Hamid’s brother. “The Afghan narcotics economy was a carefully designed project of the CIA”. “A convicted heroin trafficker, Izzatullah Wasifi, was appointed by Karzai to head an anti-corruption agency.” US government made Afghanistan into anarco state. By 2006, LA Times reported Afghan heroin flooding in, but wouldn’t investigate how.1,000,000 people worldwide have been killed by heroin from US-occupied Afghanistan.”

This recent video sheds light on the continuous US occupation of Afghanistan.

One day perhaps an earth shattering revelation will come regarding exactly who is profiting from this. Until then, we can at least mark this down as another factor obfuscating who the world’s wealthiest individuals are.

4. We don’t know who owns the Federal Reserve.

We simply don’t know who owns the Federal Reserve bank. Its shareholders are private banks, we know that. We get glimpses of the strings that pull the Fed, when they generously provide private banks such as Chase with resources they would never provide to the common people…

more…

This article (Hiding the Identities of the World’s Wealthiest Individuals) was originally created and published by Waking Times and is printed here under a Creative Commons license with attribution to Pedro Aquila and WakingTimes.com. It may be re-posted freely with proper attribution. 

http://www.wakingtimes.com/2016/10/03/hiding-identities-worlds-wealthiest-individuals/

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Resultado de imagem para images of deutsche bank bailoutFrom Michael Covel, Editor, Trend Following:

Deutsche Bank is blood in the water… and the sharks smell it.

Yesterday, Bloomberg reported that major hedge funds were reducing their exposure to the German banking behemoth. The smart money is headed for the exits.

That caused the bank’s U.S.-listed shares to hit a new all-time low of $11.27 yesterday. The stock closed down nearly 7% for the day.

And that’s just the most recent bad news for Deutsche…

Earlier this week, Chancellor Angela Merkel said that Germany wasn’t going to bail it out.

That’s on top of $14 billion fine recently imposed by the U.S. Justice Department that the bank can’t afford to pay. Its current market capitalization is just $16.8 billion.

This torrent of negativity has the talking heads warning that Deutsche Bank is careening toward bankruptcy, bringing back memories of Lehman Bros. in 2008.

But it’s more than that…

Leveraged to the Hilt

What investors are finally realizing is that Deutsche Bank is insolvent, something I told my Trend Following subscribers back in July.

Deutsche has astounding leverage of 40 times. Leverage is the proportion of debts that a bank has compared with its equity/capital. That means Deutsche has 40 times more debt than equity/ capital.

Remember, Lehman Bros. was only 31 times leveraged when it imploded in 2008.

The huge concern for investors right now is whether the bank can make enough profit to start overcoming its liabilities.

But it’s trapped in a low-growth economic environment. And it’s being choked to death by the European Central Bank’s negative interest rate policy (NIRP).

Because of NIRP, EU banks like Deutsche Bank effectively have to pay the central bank to hold cash on their balance sheets. At the same time, they can’t charge high rates on the loans they make. As a result, they’re getting squeezed on net interest margins, which decimates profits.

Plus, Deutsche has more than $72 trillion of risky derivatives exposure. Derivatives are the complex financial instruments that cratered the global economy in 2008.

Deutsche Bank’s derivatives exposure is four times the size of the entire EU economy. And it acts as a counterparty to virtually every major bank in the world, across almost all asset classes.

That means its interconnectedness with the rest of the financial system is a colossal problem. If Deutsche fails, it will bring many big international banks straight down the toilet with it.

The Mother of All Bailouts

The bottom line is Germany and the EU aren’t going to let Deutsche Bank go under no matter how much fear the media is sowing. It’s far too systematically critical. Its collapse would be like Lehman Bros. on steroids.

The Eurocrats will soon float anti-bailout posturing like Merkel did earlier this week. That will give them political cover post-bailout when they tell their constituents they had no other choice. The situation was too dire in the end.

And despite Merkel’s protests, the rescue plan is already taking shape…

German news weekly Die Zeit on Wednesday reported that German and EU officials were working on an emergency plan for Deutsche “if the worst comes to the worst.” Change “if” to “when” in that quote for a more accurate assessment.

Look, no one knows what shape the rescue will take. It may be hampered by the new EU rules passed in January that require shareholder bail-ins before any taxpayer money is used for bailouts.

But make no mistake, the European Central Bank and/or the EU will step forward with a new Ponzi scheme to rescue Deutsche Bank. They can’t afford not to. It’s far too large and far too dangerous.

That will prevent a major collapse in the short term and keep the stock market artificially levitated. And that’s mission accomplished as far as the Eurocrats see it.

http://investmentwatchblog.com/is-this-crisis-like-lehman-brothers-on-steroids-this-is-what-you-need-to-know-about-the-deutsche-bank-crisis-today/

 

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