Could you survive on just $2.50 a day? According to Compassion International, approximately half of the population of the entire planet currently lives on $2.50 a day or less. Meanwhile, those hoarding wealth at the very top of the global pyramid are rapidly becoming a lot wealthier. Don’t get me wrong – I am a very big believer in working hard and contributing something of value to society, and those that work the hardest and contribute the most should be able to reap the rewards. In this article I am in no way, shape or form criticizing true capitalism, because if true capitalism were actually being practiced all over the planet we would have far, far less poverty today. Instead, our planet is dominated by a heavily socialized debt-based central banking system that systematically transfers wealth from hard working ordinary citizens to the global elite. Those at the very top of the pyramid know that they are impoverishing everyone else, and they very much intend to keep it that way.
Let’s start with some of the hard numbers. According to Zero Hedge, Credit Suisse had just released their yearly report on global wealth, and it shows that 45.6 percent of all the wealth in the world is controlled by just 0.7 percent of the people…
As Credit Suisse tantalizingly shows year after year, the number of people who control just shy of a majority of global net worth, or 45.6% of the roughly $255 trillion in household wealth, is declining progressively relative to the total population of the world, and in 2016 the number of people who are worth more than $1 million was just 33 million, roughly 0.7% of the world’s population of adults. On the other end of the pyramid, some 3.5 billion adults had a net worth of less than $10,000, accounting for just about $6 trillion in household wealth.
And since this is a yearly report, we can go back and see how things have changed over time. When Zero Hedge did this, it was discovered that the wealth of those at the very top “has nearly doubled” over the past six years, and meanwhile the poor have gotten even poorer…
Incidentally, we tracked down the first Credit Suisse report we found in this series from 2010, where the total wealth of the top “layer” in the pyramid was a modest $69.2 trillion for the world’s millionaires. It has nearly doubled in the 6 years since then. Meanwhile, the world’s poorest have gotten, you got it, poorer, as those adults who were worth less than $10,000 in 2010 had a combined net worth of $8.2 trillion, a number which has since declined to $6.1 trillion in 2016 despite a half a billion increase in the sample size.
If these trends continue at this pace, it won’t be too long before the global elite have virtually all of the wealth and the rest of us have virtually nothing.
Perhaps you are fortunate enough to still have a good job, and you live in a large home and you will sleep in a warm bed tonight.
Well, you should consider yourself to be very blessed, because that is definitely not the case for most of the rest of the world. The following 11 facts about global poverty come from dosomething.com, and I want you to really let these numbers sink in for a moment…
- Nearly 1/2 of the world’s population — more than 3 billion people — live on less than $2.50 a day. More than 1.3 billion live in extreme poverty — less than $1.25 a day.
- 1 billion children worldwide are living in poverty. According to UNICEF, 22,000 children die each day due to poverty.
- 805 million people worldwide do not have enough food to eat. Food banks are especially important in providing food for people that can’t afford it themselves. Run a food drive outside your local grocery store so people in your community have enough to eat. Sign up for Supermarket Stakeout.
- More than 750 million people lack adequate access to clean drinking water. Diarrhea caused by inadequate drinking water, sanitation, and hand hygiene kills an estimated 842,000 people every year globally, or approximately 2,300 people per day.
- In 2011, 165 million children under the age 5 were stunted (reduced rate of growth and development) due to chronic malnutrition.
- Preventable diseases like diarrhea and pneumonia take the lives of 2 million children a year who are too poor to afford proper treatment.
- As of 2013, 21.8 million children under 1 year of age worldwide had not received the three recommended doses of vaccine against diphtheria, tetanus and pertussis.
- 1/4 of all humans live without electricity — approximately 1.6 billion people.
- 80% of the world population lives on less than $10 a day.
- Oxfam estimates that it would take $60 billion annually to end extreme global poverty–that’s less than 1/4 the income of the top 100 richest billionaires.
- The World Food Programme says, “The poor are hungry and their hunger traps them in poverty.” Hunger is the number one cause of death in the world, killing more than HIV/AIDS, malaria, and tuberculosis combined.
So how did we get here?
Debt is the primary mechanism that takes wealth from ordinary people like you and me and puts it into the hands of the global elite.
In my recent article entitled “Why Donald Trump Must Shut Down The Federal Reserve And Start Issuing Debt-Free Money“, I discussed how the Federal Reserve was designed to entrap the U.S. government in an endless debt spiral from which it could never possibly escape. And that is precisely what has happened, as the U.S. national debt has gotten more than 5000 times larger since the Federal Reserve was created in 1913.
In that very same year, the federal income tax was instituted, and that is a key part of the program for the global elite. You see, the income tax is how wealth is transferred from us to the government. And then a continuously growing national debt is how that wealth is transferred from the government to the elite.
It is a very complicated system, but at the end of the day it is all about taking money from us and getting it into their pockets.
And at this point more than 99.9 percent of the population of the world lives in a country with a central bank, and almost every nation on the planet has some form of income tax.
It is a global system that is designed to create as much debt as possible, and I recently shared with my readers that the total amount of debt in the world has hit a staggering all-time record high of 152 trillion dollars.
Interestingly, the Bible actually foretells of a time when rich men would hoard wealth in the last days. The following are the first five verses of the Book of James in the Modern English Version…
Come now, you rich men, weep and howl for your miseries that shall come upon you. 2 Your riches are corrupted and your garments are moth-eaten. 3 Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. You have stored up treasures for the last days. 4 Indeed the wages that you kept back by fraud from the laborers who harvested your fields are crying, and the cries of those who harvested have entered into the ears of the Lord of Hosts. 5 You have lived in pleasure on the earth and have been wayward. You have nourished your hearts as in a day of slaughter.
So much of the time we focus on the other great sins that we see all around us, but the truth is that one of the greatest sins of all in our world today is the sin of greed.
The borrower is the servant of the lender, and the global elite have used various forms of debt to turn the rest of the planet into their debt slaves.
As debt levels race higher and higher all over the planet, the elite are using the magic of compound interest to grab a bigger and bigger share of the pie.
Given enough time, those at the very top would have virtually everything and the rest of us would have virtually nothing. The middle class is shrinking all over the globe, and the gap between the wealthy and the poor continues to grow at an astounding pace.
But the vast majority of people out there have no idea how money, debt, taxes and central banks really work, and so they have no idea that this is purposely being done to them.
So please share this article with as many people as you can. The truth is that we don’t have to have this much global poverty, and if we correctly identify the root causes of this poverty we can start working on some real solutions.
The global elite have never been closer to their goal of a united world. Thanks to a series of interlocking treaties and international agreements, the governance of this planet is increasingly becoming globalized and centralized, but most people don’t seem alarmed by this at all. In the past 30 days, we have seen some of the biggest steps toward a one world government, a one world economy and a one world religion that we have ever witnessed, but these events have sparked very little public discussion or debate. So please share this article with as many people as you can. We need to wake people up about this before it is too late.
From September 25th to September 27th, the United Nations launched a “new universal agenda” for humanity. Those are not my words, they actually come directly out of the core document for this new agenda. The Pope traveled to New York City to give the address that kicked off this conference, thus giving his considerable endorsement to this new plan. Virtually every nation on the entire planet willingly signed up for the 17 goals that are included in this plan, but this stunning turn of events made very few international headlines.
The United Nations is promising that if we all work together that we can turn our planet into some kind of “utopia”, but the truth is that all of this talk about “unity” masks a very insidious agenda. The following comes from a recent piece by Paul McGuire, the author of a groundbreaking new book entitled “The Babylon Code”…
The UN is not asking permission, but issuing a command that the entire planet will commit to 17 sustainable development goals and 169 sustainable development targets designed to radically transform our world by 2030. The UN 2030 plan promoted by the Pope will advance Agenda 21 on steroids. Through a controlled media the mass populations will be told that this is all about saving the environment and “ending poverty.” But that is not the true agenda of Agenda 21. The true agenda of Agenda 21 is to establish a global government, global economic system, and global religion. When UN Secretary General Ban Ki-Moon spoke of “a dream of a world of peace and dignity for all” this is no different than when the Communists promised the people a “workers paradise.”
For the general population, “the 2030 Agenda” has been rebranded as “the global goals”. On September 26th, some of the biggest names in the music world (including Beyonce) promoted these new “global goals” at the “Global Citizen Festival” that was held in Central Park. And you can watch a YouTube video where some of the most famous names on the entire planet urge all of us to get behind these new “global goals” right here.
None of this is by accident. We are being trained to think of ourselves as “global citizens” that belong to a “global community”. Decades ago, most Americans would have been up in arms over something like this. But now most people just seem to accept these changes passively. Very powerful secret societies and international organizations have been moving us in this direction for a very long time, and most Americans simply have no idea what is happening. Here is more from Paul McGuire…
The United Nations is a de facto global government and does not rule by the “consent of the governed.” The United Nations is a global government to which American politicians of both parties have surrendered our Constitutional rights. If you look at the Republican Presidential debates you see the vast majority of those running are “bought men and women.” They are there to do the bidding of their true masters, the international banking families and their interlocking secret societies. If a candidate has a different set of beliefs than the “Orwellian group think” which constitutes domestic and foreign policy, he is allowed to go only so far.
Who are these powerful elite groups and the secret societies that run them? As we extensively document in our new book, The Babylon Code, co-authored by this author and Troy Anderson, a Pulitzer Prize-nominated investigative journalist, there exists a very real network of semi-secretive and secret groups. Groups like The Council on Foreign Relations, The Trilateral Commission, Royal Institute of International Affairs, United Nations, Club of Rome, The Bilderberg Group, and others control presidents, prime ministers, media networks, politicians, CEO’s, and entire nations. You will almost never hear any substantive analysis by the media, which is controlled by these groups nor of attempts at holding them accountable by governments around the world.
Another way that our planet is being “united” is through the use of international trade agreements.
The ultimate goal is for the entire world to become a “single market” with uniform laws, rules and regulations. But as we merge our economy with the rest of the globe, the United States has been losing tens of thousands of businesses and millions of jobs as the monolithic corporations that now dominate our economy shift production to areas where labor is much cheaper. This is absolutely destroying the middle class, but very few people seem to care.
Negotiations for one of the biggest international trade treaties that the world has ever seen recently concluded. The Trans-Pacific Partnership, also known as “Obamatrade”, would represent a giant step toward a truly unified global economy. The following is an excerpt from one of my previous articles…
We have just witnessed one of the most significant steps toward a one world economic system that we have ever seen. Negotiations for the Trans-Pacific Partnership have been completed, and if approved it will create the largest trading bloc on the planet. But this is not just a trade agreement. In this treaty, Barack Obama has thrown in all sorts of things that he never would have been able to get through Congress otherwise. And once this treaty is approved, it will be exceedingly difficult to ever make changes to it. So essentially what is happening is that the Obama agenda is being permanently locked in for 40 percent of the global economy.
The United States, Canada, Japan, Mexico, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam all intend to sign on to this insidious plan. Collectively, these nations have a total population of about 800 million people and a combined GDP of approximately 28 trillion dollars.
And do you want to know who pushed really hard to give Obama fast track negotiating authority so that these negotiations could be brought to a successful conclusion?
It was the traitorous Republican leadership in Congress. They did everything that they could to pave the way for Obamatrade.
We are also seeing some stunning moves in the direction of a one world religion.
In recent years, you may have noticed that it has become very trendy to say that all religions are just different paths to the same God. In fact, many prominent religious leaders are now openly proclaiming that the two biggest faiths on the entire planet, Christianity and Islam, worship the exact same deity.
For example, just consider what the Pope is saying publicly on this matter. The following is an extended excerpt from one of my recent articles on End of the American Dream…
What Pope Francis had to say at St. Patrick’s Cathedral in Manhattan has received very little coverage by the mainstream media, but it was exceedingly significant. The following is how he began his address…
I would like to express two sentiments for my Muslim brothers and sisters: Firstly, my greetings as they celebrate the feast of sacrifice. I would have wished my greeting to be warmer. My sentiments of closeness, my sentiments of closeness in the face of tragedy. The tragedy that they suffered in Mecca.
In this moment, I give assurances of my prayers. I unite myself with you all. A prayer to almighty god, all merciful.
He did not choose those words by accident. In Islam, Allah is known as “the all-merciful one”. If you doubt this, just do a Google search.
And this is not the first time Pope Francis has used such language. For instance, the following comes from remarks that he made during his very first ecumenical meeting as Pope…
I then greet and cordially thank you all, dear friends belonging to other religious traditions; first of all the Muslims, who worship the one God, living and merciful, and call upon Him in prayer, and all of you. I really appreciate your presence: in it I see a tangible sign of the will to grow in mutual esteem and cooperation for the common good of humanity.
The Catholic Church is aware of the importance of promoting friendship and respect between men and women of different religious traditions – I wish to repeat this: promoting friendship and respect between men and women of different religious traditions – it also attests the valuable work that the Pontifical Council for interreligious dialogue performs.
Pope Francis clearly believes that Christians and Muslims worship the exact same God. And so that helps to explain why he authorized “Islamic prayers and readings from the Quran” at the Vatican for the first time ever back in 2014.
What is happening is undeniable.
We are steamrolling toward a one world government, a one world economy and a one world religion.
Of course we will not get there overnight. It is going to take some time, and there are going to be quite a few bumps along the way. In fact, I believe that our planet will experience an extreme amount of chaos before we actually get there.
But every major crisis will be used as an excuse to advance this agenda. Virtually every solution that the elite offer us will involve more globalization and more centralization. We will be told that all of our problems will be solved if humanity will just come together in unity.
For some, the goal of a “united planet” where we are all working together to eradicate things like poverty, war and disease makes all the sense in the world.
For others, a one world government, a one world economy and a one world religion would simply mean setting the stage for “one world tyranny”.
So what do you think? Please feel free to share your thoughts by posting a comment below…
Why are the global elite buying extremely remote compounds that come with their own private airstrips in the middle of nowhere on the other side of the planet? And why did they start dumping stocks like crazy earlier this year? Do they know something that the rest of us don’t? The things that I am about to share with you are quite alarming. It appears that the global elite have a really good idea of what is coming, and they have already taken substantial steps to prepare for it. Sadly, most of the general population is absolutely clueless about the financial collapse that is about to take place, and thus most of them will be completely blindsided by it.
As I discussed the other day, the only way that you make money in the stock market is if you get out in time. The elite understand this very well, and that is why they have been dumping stocks for months. This is something that has even been reported in the mainstream news. For example, this comes from a CNBC article that was published on June 16th…
The so-called smart money is pulling back from market risk, with fund managers taking down exposure to stocks, increasing cash holdings and buying protection against a sharp selloff.
About two weeks before that, I discussed the same phenomenon on my website. The article that I published on May 30th was entitled “Why Is The Smart Money Suddenly Getting Out Of Stocks And Real Estate?”
Did the “smart money” know what was about to happen? Since the peak of the market, the Dow has already lost more than 2200 points. All of the gains since the end of the 2013 calendar year have already been completely wiped out.
And of course the truth is that you didn’t really need any inside information to see that it was time to get out. I have been warning my readers for months about what was coming. The signs have been clear as a bell if you were willing to look at them. Just consider the following excerpt from a recent piece by Michael Pento…
Earlier in the year margin debt had risen over $30 billion or 6.5% to $507 billion and was equal to a record 2.87% of U.S. GDP. This surpasses the previous all-time high of 2.78% set in March 2000 – the top of the last largest stock market bubble in history.
And despite the assurance of every mutual fund manager on TV that they have boatloads of cash ready to deploy at these “discounted” levels, in early August cash levels at mutual funds sank to their lowest level in history, 3.2% (see chart below). As a percentage of stock market capitalization, fund cash levels are also nearing the record low set in 2000 when the NASDAQ peaked and subsequently crashed by around 80%.
The financial markets are absolutely primed for a major crash, and when that happens many among the elite will be hightailing it to the middle of nowhere.
Earlier this year, the Mirror published an article all about this entitled “Panicked super rich buying boltholes with private airstrips to escape if poor rise up“. Here is a brief excerpt…
Robert Johnson, president of the Institute of New Economic Thinking, told people at the World Economic Forum in Davos that many hedge fund managers were already planning their escapes.
He said: “I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway.”
Keep in mind that these are not just some rumors that Robert Johnson has heard. These are people that he knows personally and that he interacts with regularly.
And Robert Johnson was not alone in this assessment. Here is more from the Mirror…
His comments were backed up by Stewart Wallis, executive director of the New Economics Foundation, who when asked about the comments told CNBC Africa: “Getaway cars, the airstrips in New Zealand and all that sort of thing, so basically a way to get off.
“If they can get off, onto another planet, some of them would.”
For some reason, the global elite seem to have a particular affinity for New Zealand. Perhaps it is because of the great natural beauty of the nation combined with the fact that it is in the middle of nowhere. The following comes from the Daily Mail…
New Zealand, which is about the size of the UK, but has a population of just 4.4 million, offers them all the modern luxuries they have come to expect – but miles from any country which may implode into chaos.
The country is 11,658 miles away from the UK, while its closest neighbour is Fiji – 1,612 miles away, more than double the distance between Lands End and John O’Groats.
Homes at the top end of the market come with tennis courts, swimming pools and media rooms – and some even boast their own personal jetties where a family can moor their boat.
But the icing on the cake for those looking to make a quick escape comes in the form of private helipads or, better, your own airstrip.
For most of us, buying a luxury bolthole with a private airstrip in New Zealand is not a possibility.
But we should all be getting prepared.
I have a contact in the food industry that has told me that her company’s sales have “been through the roof” over the past 10 days as people stock up for what is coming. In fact, she even used the word “panic” to describe what was happening.
And Americans have been buying a record number of guns as well…
Newly released August records show that the FBI posted 1.7 million background checks required of gun purchasers at federally licensed dealers, the highest number recorded in any August since gun checks began in 1998. The numbers follow new monthly highs for June (1.5 million) and July (1.6 million), a period which spans a series of deadly gun attacks — from Charleston to Roanoke — and proposals for additional firearm legislation.
For a very long time, I have been warning my readers to get prepared.
Well, now we are getting so close that panic is starting to set in.
Hopefully you are already well prepared for what is about to happen. If not, you need to kick your prepping into overdrive.
These next few months are going to change everything. Get ready while you still can.
Did you know that the 85 richest people in the world have about as much wealth as the poorest 50% of the entire global population does? In other words, 85 extremely wealthy individuals have about as much wealth as the poorest 3,500,000,000 do. This shocking statistic comes from a new report on global poverty by Oxfam. And actually Oxfam’s report probably significantly underestimates the true scope of the problem, because Oxfam relies on publicly reported numbers. At the very top of the food chain, the global elite are masters at hiding their wealth. In fact, as I have written about previously, the global elite have approximately 32 trillion dollars (that we know about) stashed in offshore banks around the world. That would be about enough to pay off the entire U.S. national debt and buy every good and service produced in the United States for an entire year. These elitists live on an entirely different planet than the rest of us do. In fact, according to Oxfam, the richest one percent of the global population has 65 times more wealth than the bottom half of the global population combined.
There is certainly nothing wrong with making money. In fact, the founders of the United States intended for this nation to be a place where free markets thrived and where everyone could pursue their dreams. Unfortunately, this country (along with the rest of the world) has moved very much in the opposite direction. Today, we have a debt-based global financial system which is dominated by gigantic predator corporations and big banks. Working together with national governments, these corporations and banks have constructed a system that I like to call “Corporatism” in which the percentage of all global wealth that is being funneled to the very top of the pyramid steadily grows over time.
The Founding Fathers were very correct to be very suspicious of large concentrations of power. In the early days of the United States, the federal government was very small and the size and scope of corporations was greatly limited. Our nation thrived and a huge middle class blossomed.
Sadly, over the past several decades the pendulum has completely swung in the other direction. Today, our society is completely and totally dominated by big banks, big corporations and big government.
And of course this is also happening in virtually every other nation on the face of the planet. The global elite have rigged the game to send just about all of the rewards their way, and it is working. The following are facts taken directly from Oxfam’s latest report…
•Almost half of the world’s wealth is now owned by just one percent of the population.
•The wealth of the one percent richest people in the world amounts to $110 trillion. That’s 65 times the total wealth of the bottom half of the world’s population.
•The bottom half of the world’s population owns the same as the richest 85 people in the world.
•Seven out of ten people live in countries where economic inequality has increased in the last 30 years.
•The richest one percent increased their share of income in 24 out of 26 countries for which we have data between 1980 and 2012.
•In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.
Starting on Wednesday, several thousand members of the global elite will gather for the World Economic Forum meetings in Davos, Switzerland. The following is how USA Today described this conference.
For several days at the end of January, presidents, prime ministers, monarchs and corporate titans jostle with actors, rock stars and major influencers for top billing at the annual meeting of the World Economic Forum. The confab takes place in the Alpine village of Davos, about 90 miles southeast of Zurich, and for a brief spell each year the pristine ski resort half-sheds its Graubünden roots and becomes a ground zero for the political and business elite.
Unless you are independently wealthy, you can forget about going to this conference. A ticket to Davos is going to cost you about $30,000, and that is on top of the $55,000 that it costs to join the organization.
Needless to say, it is an organization of the elite, by the elite and for the elite.
This year, the theme of the meeting is “The Reshaping of the World: Consequences for Society, Politics and Business“. And the founder of the World Economic Forum says that the time has come to press the “reset” button for the global economy…
It’s time to press the “reset” button on the world, the founder of the World Economic Forum said Wednesday, addressing media ahead of the WEF’s much ballyhooed annual meeting in Davos-Klosters, Switzerland, that gets underway in a week’s time.
“The world is complex, it’s fast-moving, it’s interconnected, and we in Davos want to provide a mirror to the world as it is. It is not a meeting devoted to one set of issues. It’s a meeting that address the complexity of our world,” said Klaus Schwab, the WEF’s founder and executive chairman.
At first glance, that sounds pretty good.
Personally, I would love to hit a “reset” button for the global economy.
But what the elite mean by “reset” is much different from what most of the rest of us would mean.
The following is an excerpt from the executive summary for the agenda for the 2014 World Economic Forum…
“At an international level, the formal architecture for global governance was not designed for the interdisciplinary challenges and collective action problems of today. As a result, international cooperation has yet to fully enter the information age and capture its associated productivity gains.”
For the global elite, the answers to our problems always involve more centralization and more “global governance”. In other words, the answers to our problems always involve giving them more control and more power.
The elite never actually want the pendulum to swing back in the direction of the “little guy”. The elite are generally pleased with how the game is being played because they are winning.
Most people don’t even realize that they are participants in a debt-based neo-feudalist system in which money is being used as a form of social control.
As I have written about previously, there is about 190 trillion dollars of debt in the world, but global GDP is only about 70 trillion dollars.
There is no way that all of this debt could ever be paid off at one time. It is mathematically impossible. Over time, all of this debt transfers the wealth of the planet away from us and to the global elite. If this game was allowed to go on long enough, eventually they would have nearly all of it.
And some would argue that we are already getting close to that point. A study by the World Institute for Development Economics Research discovered that the bottom half of the global population only owns approximately 1 percent of all wealth, and at this point about a billion people throughout the world go to bed hungry every night.
This is one of the reasons why I am so adamant about the fact that the Federal Reserve needs to be shut down. It is at the very heart of the debt-based system that we have in the United States, and over the past 100 years it has brought us to the brink of economic Armageddon.
Sadly, most Americans do not understand any of these things. They just assume that the debt-fueled prosperity that we have been enjoying will be able to go on indefinitely.
So is there any hope for the “little guy”?
Well, you could try to win the one billion dollar NCAA tournament bracket contest that Warren Buffett is backing.
Or you could go out and try to win the lottery or try to date a famous professional athlete.
But the odds of any of those things actually happening are so low that they aren’t even worth mentioning.
Personally, I would rather spend my time trying to wake people up and help them understand how our global system really works.
I believe that a “great awakening” is coming.
I believe that millions of people are going to start breaking out of the “matrix of control” that has such a tight grip on their lives and are going to start thinking for themselves.
I believe that as the darkness gets even darker that the light is going to get even brighter. I believe that we are going to see “renewal” on a whole bunch of different levels.
Yes, a great economic collapse is coming.
Yes, there is going to be a tremendous amount of pain.
But it won’t all be bad news.
The times ahead are going to be full of adventure and excitement for those who are willing to embrace it.
So what do you think about what is coming in the years ahead? Please feel free to share your thoughts by posting a comment below…
Karen Hudes is a graduate of Yale Law School and she worked in the legal department of the World Bank for more than 20 years. In fact, when she was fired for blowing the whistle on corruption inside the World Bank, she held the position of Senior Counsel. She was in a unique position to see exactly how the global elite rule the world, and the information that she is now revealing to the public is absolutely stunning. According to Hudes, the elite use a very tight core of financial institutions and mega-corporations to dominate the planet. The goal is control. They want all of us enslaved to debt, they want all of our governments enslaved to debt, and they want all of our politicians addicted to the huge financial contributions that they funnel into their campaigns. Since the elite also own all of the big media companies, the mainstream media never lets us in on the secret that there is something fundamentally wrong with the way that our system works.
Remember, this is not some “conspiracy theorist” that is saying these things. This is a Yale-educated attorney that worked inside the World Bank for more than two decades. The following summary of her credentials comes directly from her website…
Karen Hudes studied law at Yale Law School and economics at the University of Amsterdam. She worked in the US Export Import Bank of the US from 1980-1985 and in the Legal Department of the World Bank from 1986-2007. She established the Non Governmental Organization Committee of the International Law Section of the American Bar Association and the Committee on Multilateralism and the Accountability of International Organizations of the American Branch of the International Law Association.
Today, Hudes is trying very hard to expose the corrupt financial system that the global elite are using to control the wealth of the world. During an interview with the New American, she discussed how we are willingly allowing this group of elitists to totally dominate the resources of the planet…
A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview with The New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is confident of success.
Citing an explosive 2011 Swiss study published in the PLOS ONE journal on the “network of global corporate control,” Hudes pointed out that a small group of entities — mostly financial institutions and especially central banks — exert a massive amount of influence over the international economy from behind the scenes. “What is really going on is that the world’s resources are being dominated by this group,” she explained, adding that the “corrupt power grabbers” have managed to dominate the media as well. “They’re being allowed to do it.”
Previously, I have written about the Swiss study that Hudes mentioned. It was conducted by a team of researchers at the Swiss Federal Institute of Technology in Zurich, Switzerland. They studied the relationships between 37 million companies and investors worldwide, and what they discovered is that there is a “super-entity” of just 147 very tightly knit mega-corporations that controls 40 percent of the entire global economy…
When the team further untangled the web of ownership, it found much of it tracked back to a “super-entity” of 147 even more tightly knit companies – all of their ownership was held by other members of the super-entity – that controlled 40 per cent of the total wealth in the network. “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.
But the global elite don’t just control these mega-corporations. According to Hudes, they also dominate the unelected, unaccountable organizations that control the finances of virtually every nation on the face of the planet. The World Bank, the IMF and central banks such as the Federal Reserve literally control the creation and the flow of money worldwide.
At the apex of this system is the Bank for International Settlements. It is the central bank of central banks, and posted below is a video where you can watch Hudes tell Greg Hunter of USAWatchdog.com the following…
“We don’t have to wait for anybody to fire the Fed or Bank for International Settlements . . . some states have already started to recognize silver and gold, the precious metals, as currency”
Most people have never even heard of the Bank for International Settlements, but it is an extremely important organization. In a previous article, I described how this “central bank of the world” is literally immune to the laws of all national governments…
An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe. It is called the Bank for International Settlements, and it is the central bank of central banks. It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City. It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws. Even Wikipedia admits that “it is not accountable to any single national government.” The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system. Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does. Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”. During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on. The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.
This system did not come into being by accident. In fact, the global elite have been developing this system for a very long time. In a previous article entitled “Who Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Is Pulling The Strings“, I included a quote from Georgetown University history professor Carroll Quigley from a book that he authored all the way back in 1966 in which he discussed the big plans that the elite had for the Bank for International Settlements…
[T]he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.
And that is exactly what we have today.
We have a system of “neo-feudalism” in which all of us and our national governments are enslaved to debt. This system is governed by the central banks and by the Bank for International Settlements, and it systematically transfers the wealth of the world out of our hands and into the hands of the global elite.
But most people have no idea that any of this is happening because the global elite also control what we see, hear and think about. Today, there are just six giant media corporations that control more than 90 percent of the news and entertainment that you watch on your television in the United States.
This is the insidious system that Karen Hudes is seeking to expose. For much more, you can listen to Joyce Riley of the Power Hour interview her for an entire hour right here.
So what do you think about what Hudes is saying? Please feel free to share your thoughts by posting a comment below…
According to a study that was just released by Boston Consulting Group, the wealthiest one percent now own 39 percent of all the wealth in the world. Meanwhile, the bottom 50 percent only own 1 percent of all the wealth in the world combined. The global financial system has been designed to funnel wealth to the very top, and the gap between the wealthy and the poor continues to expand at a frightening pace. The global elite continue to hoard wealth and heap together enormous mountains of treasure in these troubled days even though the economic suffering around the planet continues to grow. So exactly how have the global elite accumulated so much wealth? Well, one of the primary ways is through the use of debt. As I have written about previously, there is about 190 trillion dollars of debt in the world but global GDP is only about 70 trillion dollars. Our debt-based global financial system systematically transfers wealth from us and our governments into the hands of the global elite. And of course the gigantic banks and corporations that the elite control are constantly gobbling up everything of value that they can find: natural resources, profitable small businesses, real estate, politicians, etc. Money, power, ownership and control are becoming very, very tightly concentrated at the top of the food chain, and that is a very dangerous thing for humanity. When too much money and power gets into too few hands, it almost always results in tyranny.
What will eventually happen when the global elite have ALL the wealth?
Will the rest of us work as serfs in a system that they have iron-fisted control over?
And what if they decide that they don’t really need billions of people working for them? Will they decide to implement population control measures in order to reduce the number of “useless eaters”? It is already happening in China and other highly centralized societies.
When all of the economic rewards of a society go to a very small handful of people, it tends to be very destabilizing. We have seen this again and again throughout history.
When people have everything taken away from them and they have nothing left to lose, they tend to become very desperate. And right now we are rapidly hurtling toward a time of great global instability. Anger and frustration are growing all over the globe, and the rate at which the gap between the wealthy and the poor is widening seems to be accelerating. Just check out these numbers…
-The wealthiest 1 percent of the global population now owns 39 percent of all the wealth on the planet.
-According to a report that was released last summer, the global elite have up to 32 TRILLION dollars stashed in offshore banks around the planet.
-According to a study conducted by Credit Suisse, the bottom two-thirds of the global population owns just 3.3% of all the wealth.
-A study by the World Institute for Development Economics Research discovered that the bottom half of the world population owns approximately 1 percent of all global wealth.
-It is estimated that the entire continent of Africa only owns approximately 1 percent of the total wealth of the world.
-Approximately 1 billion people throughout the world go to bed hungry each night.
-If you can believe it, more than 3 billion people currently live on less than 2 dollar a day.
In the world that we live in, money equals power. And the more money that the top one percent accumulate, the more power they will accumulate as well.
So exactly who are the top one percent? I discussed this at length in my previous article entitled “Who Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Is Pulling The Strings“. The global elite are absolutely obsessed with power and control and they have been working to implement their agenda for a very long time. In the end, they hope to unite the entire planet under a monolithic global system that they control. They are actually quite open about this – it is just that most people do not want to believe it.
The gap between the wealthy and the poor is rapidly growing in the United States as well. Sadly, this means that the middle class is steadily disappearing as the ranks of those that are living in poverty continues to increase.
But of course not everyone is doing badly in the U.S. right now. In fact, those that own stocks have had lots of reasons to celebrate in recent months.
So who owns stocks?
Well, the wealthy do of course. In fact, approximately 60 percent of all individually held stocks are owned by the top 5 percent of all Americans.
During the last recession, Americans lost 16 trillion dollars of wealth. Since then, about 45 percent of that wealth has been “recovered”, but the vast majority of that “recovery” has been due to rising stock prices. The following comes from a recent Washington Post article…
From the peak of the boom to the bottom of the bust, households watched a total of $16 trillion in wealth disappear amid sinking stock prices and the rubble of the real estate market. Since then, Americans have only been able to recapture 45 percent of that amount on average, after adjusting for inflation and population growth, according to the report from the St. Louis Fed released Thursday.
In addition, the report showed most of the improvement was due to gains in the stock market, which primarily benefit wealthy families. That means the recovery for other households has been even weaker.
“A conclusion that the financial damage of the crisis and recession largely has been repaired is not justified,” the report stated.
Once upon a time, the United States had the largest and most thriving middle class in the history of the world. That was a great thing. But now the middle class is being destroyed and government dependence has surged to an all-time high.
The following are some of the incredible statistics that show how wide the gap between the wealthy and the poor in America is becoming…
-The wealthiest 1 percent of all Americans now own more than a third of all the wealth in the United States.
-In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.
-According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.
-The six heirs of Wal-Mart founder Sam Walton have as much wealth as the bottom one-third of all Americans combined.
-On average, households in the top 7 percent have 24 times as much wealth as households in the bottom 93 percent.
-Between 2009 and 2011, the wealth of the bottom 93 percent of all Americans declined by 4 percent, while the wealth of the top 7 percent of all Americans increased by 28 percent.
-The poorest 50 percent of all Americans collectively own just 2.5% of all the wealth in the United States.
-The top 0.01% of all Americans make an average of $27,342,212. The bottom 90% make an average of $31,244.
For much more on how poverty is rising and the middle class is being destroyed, please see my recent article entitled “22 Facts That Prove That The Bottom 90 Percent Of America Is Systematically Getting Poorer“.
Obviously we have a huge problem here.
With each passing day, poverty is rising and more people are becoming dependent on the government.
So what is the solution to this mess?
Please feel free to voice your opinion by posting a comment below…
What would you do if you woke up one day and discovered that the banksters had “legally” stolen about 80 percent of your life savings? Most people seem to assume that most of the depositors that are getting ripped off in Cyprus are “Russian oligarchs” or “wealthy European tycoons”, but the truth is that they are only just part of the story. As you will see below, there are small businesses and aging retirees that have been absolutely devastated by the wealth confiscation that has taken place in Cyprus. Many businesses can no longer meet their payrolls or pay their bills because their funds have been frozen, and many retirees have seen retirement plans that they have been working toward for decades absolutely destroyed in a matter of days. Sometimes it can be hard to identify with events that are happening on the other side of the globe, but I want you to try to put yourself into their shoes for a few minutes. How would you feel if something like this happened to you?
For example, just consider the case of one 65-year-old retiree that has had his life savings totally wiped out by the “wealth tax” in Cyprus. His very sad story was recently featured by the Sydney Morning Herald…
”Very bad, very, very bad,” says 65-year-old John Demetriou, rubbing tears from his lined face with thick fingers. ”I lost all my money.”
John now lives in the picturesque fishing village of Liopetri on Cyprus’ south coast. But for 35 years he lived at Bondi Junction and worked days, nights and weekends in Sydney markets selling jewellery and imitation jewellery.
He had left Cyprus in the early 1970s at the height of its war with Turkey, taking his wife and young children to safety in Australia. He built a life from nothing and, gradually, a substantial nest egg. He retired to Cyprus in 2007 with about $1 million, his life savings.
He planned to spend it on his grandchildren – some of whom live in Cyprus – putting them through university and setting them up. There would be medical bills; he has a heart condition. The interest was paying for a comfortable retirement, and trips back to Australia. He also toyed with the idea of buying a boat.
He wanted to leave any big purchases a few years, to be sure this was where he would spend his retirement. There was no hurry. But now it is all gone.
”If I made the decision to stay, I was going to build a house,” John says. ”Unfortunately I didn’t make the decision yet.
”I went to sleep Friday as a rich man. I woke up a poor man.”
You can read the rest of the article right here.
How would you feel if you suddenly lost almost everything that you have been working for your entire life?
And many small and mid-size businesses have been ruined by the bank account confiscation that has taken place in Cyprus.
The following is a bank account statement that was originally posted on a Bitcoin forum that has gone absolutely viral all over the Internet. One medium size IT business has lost a staggering amount of money because of the “bail-in” that is happening in Cyprus…
The following is what the poster of this screenshot had to say about what this is going to do to his business…
Over 700k of expropriated money will be used to repay country’s debt. Probably we will get back about 20% of this amount in 6-7 years.
I’m not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation.
The business is definitely ruined, all Cypriot workers to be fired.
We are moving to small Caribbean country where authorities have more respect to people’s assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners.
Special thanks to:
– Jeroen Dijsselbloem
– Angela Merkel
– Manuel Barroso
– the rest of officials of “European Comission”
With each passing day, things just continue to get worse for those with deposits of over 100,000 euros in Cyprus. A few hours ago, a Reuters story entitled “Big depositors in Cyprus to lose far more than feared” declared that the initial estimates of the losses by big depositors in Cyprus were much too low.
And of course the truth is that those that have had their deposits frozen will be very fortunate to ever see any of that money ever again.
But just a few weeks ago, the Central Bank of Cyprus was swearing that nothing like this could ever possibly happen. Just check out the following memo from the Central Bank of Cyprus dated “11 February 2013” that was recently posted on Zero Hedge…
Sadly, the truth is that the politicians will lie to you all the way up until the very day that they confiscate your money.
You can believe our “leaders” when they swear that nothing like this will ever happen in the United States, in Canada or in other European nations if you want.
But I don’t believe them.
In fact, as an outstanding article by Ellen Brown recently detailed, the concept of a “bail-in” for “systemically important financial institutions” has been in the works for a long time…
Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.
If you do not believe that what just happened in Cyprus could happen in the United States, you need to read the rest of her article. The following is an extended excerpt from that article…
Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay. (See here and here.) But until now the bank has been obligated to pay the money back on demand in the form of cash. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.” The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price? Most people keep a deposit account so they can have ready cash to pay the bills.
The 15-page FDIC-BOE document is called “Resolving Globally Active, Systemically Important, Financial Institutions.” It begins by explaining that the 2008 banking crisis has made it clear that some other way besides taxpayer bailouts is needed to maintain “financial stability.” Evidently anticipating that the next financial collapse will be on a grander scale than either the taxpayers or Congress is willing to underwrite, the authors state:
An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company [meaning the depositors] into equity [or stock]. In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself—thus, the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country, the new equity holders would take on the corresponding risk of being shareholders in a financial institution.
No exception is indicated for “insured deposits” in the U.S., meaning those under $250,000, the deposits we thought were protected by FDIC insurance. This can hardly be an oversight, since it is the FDIC that is issuing the directive. The FDIC is an insurance company funded by premiums paid by private banks. The directive is called a “resolution process,” defined elsewhere as a plan that “would be triggered in the event of the failure of an insurer . . . .” The only mention of “insured deposits” is in connection with existing UK legislation, which the FDIC-BOE directive goes on to say is inadequate, implying that it needs to be modified or overridden.
You can find the rest of her excellent article right here. I would encourage everyone to especially pay attention to what she has to say about derivatives.
Sadly, what is happening in Cyprus right now is just the continuation of a trend. In recent years, governments all over the world have turned to the confiscation of private wealth in order to solve their financial problems. The following examples are from a recent article posted on Deviant Investor…
October 2008 – Argentina’s leftist government, facing a gigantic revenue shortfall, proposes to nationalize all private pensions so as to meet national debt payments and avoid its second default in the decade.
November 2010 – Headline – Hungary Gives Its Citizens an Ultimatum: Move Your Private Pension Fund Assets to the State or Permanently Lose Your Pension – This is an effective nationalization of all pensions.
November 2010 – Ireland elects to appropriate ten billion euros from its National Pension Reserve Fund to help fund an eighty-five billion euro rescue package for its besieged banks. Ireland also moves to consider a regulatory move that compels some private Irish pension funds to hold more Irish government debt, thereby providing the state with a captive investor base but hugely raising the risk for savers.
December 2010 – France agrees to transfer twenty billion euros worth of assets belonging to its Fonds de Reserve pour les Retraites (FRR), the funded portion of its retirement system, to help pay off recurring social benefits costs. No pensioners are consulted.
April 2012 – Argentina announces that its Economy Ministry has taken an emergency loan from the national pension fund in the amount of $4.3 billion. No pensioners were consulted.
June 2012 – Treasury Secretary Timothy Geithner unilaterally appropriates $45 billion from US federal pension funds to help tide over US deficits for the remainder of fiscal year 2011.
January 2013 – Treasury Secretary Geithner again announces that the government has begun borrowing from the federal employees pension fund to keep operating without passing the approaching “fiscal cliff” debt limit. The move effectively creates $156 billion in borrowing authority from federal pension funds.
March 2013 – Open Bank Resolution finance minister, Bill English, is proposing a Cyprus style solution for potential New Zealand bank failures. The reserve bank is in the final stages of establishing a rescue scheme which will put all bank depositors on the hook for bailing out their banks. Depositors will overnight have their savings shaved by the amount needed to keep distressed banks afloat.
Can you see the pattern?
As I wrote about the other day, no bank account, no pension fund, no retirement account and no stock portfolio will be able to be considered 100% safe ever again.
And once the global derivatives casino melts down, there are going to be a lot of major banks that are going to need to be “bailed in”.
When that day arrives, they are going to try to come after your money.
So don’t leave your entire life savings sitting in a single bank – especially not one of the banks that has a tremendous amount of exposure to derivatives.
Hopefully we can get more people to wake up and realize what is happening. We are moving into a time of great financial instability, and what worked in the past is not going to work in the future.
Be smart and get prepared while you still can.
Time is running out.
Don’t be surprised when the global elite confiscate money from your bank account one day. They are already very clearly telling you that they are going to do it. Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts. What that means is that when the chips are down, they are going to come after YOUR money. So why should anyone put a large amount of money in the bank at this point? Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails. And considering the fact that there are vast numbers of banks all over the United States and Europe that are teetering on the verge of insolvency, why would anyone want to take such a risk? What the global elite have done is that they have messed around with the fundamental trust that people have in the banking system. In order for any financial system to work, people must have faith in the safety and security of that financial system. People put their money in the bank because they think that it will be safe there. If you take away that feeling of safety, you jeopardize the entire system.
So exactly how did the big banks in Cyprus get into so much trouble? Well, they have been doing exactly what hundreds of other large banks all over the U.S. and Europe have been doing. They have been gambling with our money. In particular, the big banks in Cyprus made huge bets on Greek sovereign debt which ended up failing.
But what happened in Cyprus is just the tip of the iceberg. All over the planet major financial institutions are being incredibly reckless with client money. They are leveraged to the hilt and they have transformed the global financial system into a gigantic casino.
If they win on their bets, they become fabulously wealthy.
If they lose on their bets, they know that the politicians won’t let the banks fail. They know that they will get bailed out one way or another.
And who pays?
Either our tax dollars are used to fund a government-sponsored bailout, or as we have just witnessed in Cyprus, money is directly confiscated from our bank accounts.
And then the game begins again.
People need to understand that the precedent that has just been set in Cyprus is a game changer.
The next time that a major bank fails in Greece or Italy or Spain (or in the United States for that matter), the precedent that has been set in Cyprus will be looked to as a “template” for how to handle the situation.
Eurogroup president Jeroen Dijsselbloem has even publicly admitted that what just happened in Cyprus will serve as a model for future bank bailouts. Just check out what he said a few days ago…
“If there is a risk in a bank, our first question should be ‘Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?’. If the bank can’t do it, then we’ll talk to the shareholders and the bondholders, we’ll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders”
Dijsselbloem insists that this will cause people “to think about the risks” before they put their money somewhere…
“It will force all financial institutions, as well as investors, to think about the risks they are taking on because they will now have to realise that it may also hurt them. The risks might come towards them.”
Well, as depositors in Cyprus just found out, there is a risk that you could lose 40 percent (and that is the best case scenario) of your money if you put it in the bank.
Why would anyone want to take that risk – especially in a nation that is already experiencing very serious financial troubles such as Greece, Italy or Spain?
As if that was not enough, Dijsselbloem later went in front of the Dutch parliament and publicly defended a wealth tax like the one that was just imposed in Cyprus.
Dijsselbloem is being widely criticized, and rightfully so. But at least he is being more honest that many other politicians. His predecessor as the head of the Eurogroup, Jean-Claude Juncker, once said that “you have to lie” to the people in order to keep the financial markets calm…
Mr. Dijsselbloem’s style contrasts with that of his predecessor, Jean-Claude Juncker, Luxembourg’s prime minister, who spoke in a low mumble at news conferences and was expert at sidestepping questions. Mr. Juncker once even advocated lying as a way to prevent financial markets from panicking—as they did Monday after Mr. Dijsselbloem’s comments.
“When it becomes serious, you have to lie,” Mr. Juncker said in April 2011. “If you have pre-indicated possible decisions, you are feeding speculation in the financial markets.”
But Dijsselbloem is certainly not the only one among the global elite that is admitting what is coming next. Just check out what Joerg Kraemer, the chief economist at Commerzbank, recently told Handelsblatt about what he believes should be done in Italy…
“A tax rate of 15 percent on financial assets would probably be enough to push the Italian government debt to below the critical level of 100 percent of gross domestic product”
And as I wrote about the other day, the Finance Minister of New Zealand is proposing that bank account holders in his nation should be required to “take a haircut” if any banks in his nation fail.
They are telling us what they plan to do.
They are telling us that they plan to raid all of our bank accounts when the global financial system fails.
And calling it a “haircut” does not change the fact of what it really is. The truth is that when they confiscate money from our bank accounts it is outright theft. Just check out what the Daily Mail had to say about the situation in Cyprus…
People who rob old ladies in the street, or hold up security vans, are branded as thieves. Yet when Germany presides over a heist of billions of pounds from private savers’ Cyprus bank accounts, to ‘save the euro’ for the hundredth time, this is claimed as high statesmanship.
It is nothing of the sort. The deal to secure a €10 billion German bailout of the bankrupt Mediterranean island is one of the nastiest and most immoral political acts of modern times.
It has struck fear into the hearts of hundreds of millions of European citizens, because it establishes a dire precedent.
And when you cause paralysis in the banking system, a once thriving economy can freeze up almost overnight. The following is an excerpt from a report from someone that is actually living over in Cyprus…
As it stands now, nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY. Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed. If the banks remain closed, the economy will be destroyed and STOP COMPLETELY. Looting, robberies and theft are already on the rise. If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash. TONIGHT there are demonstrations at most street corners and especially at the parliament building (just 2 miles from me).
Many are thinking that the ECB and EU are allowing Cyprus to fail as a test ground for new financial standards.
Just wanted all you guys to know the real story of whats going on here. Prayers are appreciated (although this is very interesting to watch) many of my local friends have lots of money in the banks.
Would similar things happen in the United States if there was a major banking crisis someday?
That is something to think about.
In any event, the problems in the rest of Europe continue to get even worse…
-The stock market in Greece is crashing. It is down by more than 10 percent over the past two days.
-The stock markets in Italy and Spain are experiencing huge declines as well. Banking stocks are being hit particularly hard.
-The Bank of Spain says that the Spanish economy will sink even deeper into recession this year.
-The latest numbers from the Spanish government show that Spain’s debt problem is rapidly getting worse…
“The central government’s interest bill surged 15 percent last year to 26 billion euros, while tax receipts slumped 21 percent. The cost of servicing debt represented 30 percent of the taxes collected at the end of December, up from 20 percent a year earlier.”
-The euro took quite a tumble on Thursday and the euro will likely continue to decline steadily in the weeks and months to come.
For a very long time I have been warning that the next major wave of the economic collapse is going to originate in Europe.
Hopefully people are starting to see what I am talking about.
As this point, the major banks in Europe are leveraged about 26 to 1, and that is close to the kind of leverage that Lehman Brothers had when it finally collapsed. As a whole, European banks are drowning in debt, they are taking risks that are almost incomprehensible and now faith in those banks has been greatly undermined by what has happened in Cyprus.
Anyone that cannot see a crisis coming in Europe simply does not understand the financial world. A moment of reckoning is rapidly approaching for Europe. The following is from a recent article by Graham Summers…
At the end of the day, the reason Europe hasn’t been fixed is because CAPITAL SIMPLY ISN’T THERE. Europe and its alleged backstops are out of money. This includes Germany, the ECB and the mega-bailout funds such as the ESM.
Germany has already committed to bailouts that equal 5% of its GDP. The single largest transfer payment ever made by one country to another was the Marshall Plan in which the US transferred an amount equal to 5% of its GDP. Germany WILL NOT exceed this. So don’t count on more money from Germany.
The ECB is chock full of garbage debts which have been pledged as collateral for loans. If anyone of significance defaults in Europe, the ECB is insolvent. Sure it can print more money, but once the BIG collateral call hits, money printing is useless because the amount of money the ECB would have to print would implode the system.
And then of course there are the mega bailout funds such as the ESM. The only problem here is that Spain and Italy make up 30% of the ESM’s supposed “funding.” That’s right, nearly one third of the mega-bailout fund’s capital will come from countries that are bankrupt themselves.
What could go wrong?
Right now, close to half of all money that is on deposit at banks in Europe is uninsured. As people move that uninsured money out of the banks, the amount of money that will be required to “fix the banks” will go up even higher.
It would be wise to try to avoid the big banks at this point – especially those with very large exposure to derivatives. Any financial institution that uses customer money to make reckless bets is not to be trusted.
If you can find a small local bank or credit union to do business with you will probably be better off.
And don’t think that this kind of thing can never happen in the United States.
One of the key players that was pushing the idea of a “wealth tax” in Cyprus was the IMF. And everyone knows that the IMF is heavily dominated by the United States. In fact, the headquarters of the IMF is located right in the heart of Washington D.C. not too far from the White House. When I worked in D.C. I would walk by the IMF headquarters quite a bit.
So if the United States thought that confiscating money from bank accounts was a great idea in Cyprus, why wouldn’t they implement such a thing here under similar circumstances?
The global elite are telling us what they plan to do, and the game has dramatically changed.
Move your money while you still can.
Unfortunately, it is already too late for the people of Cyprus.