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Economic Articles from 2019

Venezuela’s gold in limbo amid tug-of-war at the Bank of England

[Justice]
Venezuela’s gold in limbo amid tug-of-war at the Bank of England
by Ronan Manly
Posted January 15, 2019

Bank mof EnglandIn early November news was placed into the British media (Reuters and The Times) revealing that the Bank of England in London, one of the world’s largest custodians of gold bars on behalf of other central banks, was refusing to allow the withdrawal and repatriation of 14 tonnes of gold belonging to Venezuela’s central bank, the Banco Central de Venezuela (BCV).

According to these media reports, the delays / refusals by the Bank of England to allow the Venezuelan gold repatriation ranged from excuses about the prohibitive cost of transport insurance to concerns about future money laundering. More…

Think about this: if central banks can steal the money of sovereign nations, do you think they will have any moral problems stealing YOUR money?

Gold & Global Financial Crisis Redux

[Economic]
Gold & Global Financial Crisis Redux
By Jim Willie CB
Posted January 14, 2018

none of them went to prisonThe Global Financial Crisis, a broader deeper more powerful systemic crisis than the Lehman Event was, has finally arrived in a great redux. It is seen in numerous areas. We have finally arrived at the ten-year anniversary of the Lehman event, a killjob whereby JPMorgan and Goldman Sachs bought a few $billion in mortgage bonds and never paid Lehman Brothers.

The firm died, called a financial failure, but was actually a strangulation. Goldman went on to capture AIG, in order to claim 100 cents per dollar on insured mortgage bonds, a second crime. The Wall Street banks, under the leader Henry Paulsen as the managing USTreasury Secretary, completed the third crime, by pitching the $700 billion TARP Fund.

They stole it, using the fund for enriching themselves with redeemed preferred stock, instead of making the funds available for lending purposes. Here ten years later, nothing has been fixed. More…

Yellow vest protesters plan massive run on French banks

[Economic]
Yellow vest protesters plan massive run on French banks
by News Corp Australia Network
Posted January 10, 2019

yellow vests are now targeting the system's achilles heelFurious yellow vests are preparing to withdraw all their euros in a massive run on French banks, as the violent protests spill over to Britain.

If a bank run succeeds, the yellow vests could cause a complete failure of France’s banking system. Unlike Australia, France operates on a Fractional Reserve System meaning their banking system holds a fraction of money that’s deposited by customers. The rest is used to make loans, creating new money.

If reports are true in saying 70 per cent of the population plans to withdraw all their euros, it means more than 46 million people will be directly revolting against the system. This could lead to a systemic banking crisis in the country where almost all the banking capital is wiped out. More…

The Facts:
In a fractional reserve system, banks do not have enough cash to payout for all their deposits. A bank run is a powerful, yet nonviolent tactic that can be used by citizens to show their displeasure.

Reflect On:
If a bank run was successful in a major western nation, what would be the consequence of such a move? You can probably be sure there would be increased calls by the elites for a “cashless society”, where the banks and the government would hold all the power, and the people would be at their mercy.

Neofeudalism Isn’t a Flaw of the System–It’s the System Working Perfectly

[Economic]
Neofeudalism Isn’t a Flaw of the System–It’s the System Working Perfectly
by Charles Hugh Smith
Posted January 10, 2018

our neo feudalism is by designThe basic idea here is the socio-economic-political system is structured such that the only possible output is neofeudalism. In other words, neofeudalism isn’t a flaw in the system that can be changed with policy tweaks or electing a new president or PM– it’s the result of the system working as designed.

Neofeudalism is a peculiarly invisible hierarchical structure of power: The New Nobility (or aristocracy if you prefer) wields vast concentrations of political, social and financial power, and does so without the formalized aristocrat-serf relationships and obligations of classic neofeudalism.

We appear to be free but we’re powerless to change the power asymmetry between the New Nobility and the commoners. More…

 

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billionaires don't EARN money, they MAKE money

You do not become a billionaire through labor. You become a billionaire through inheritance, corruption or economic rents – or, in most cases, some mixture of all three.

Grace Blakeley

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same puppet master pulling strings on both sides

Mainstream American liberals think they’re clear-eyed because they can see the propaganda strings being pulled by Fox and Donald Trump, and mainstream American conservatives think they’re clear-eyed because they can see the propaganda strings being pulled by MSNBC and the Democrats, but the propaganda strings on both trace back to the same puppet master. And seeing that is just the beginning.

Caitlin Johnstone

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discover your infinite worth

You alone are the judge of your worth and your goal is to discover infinite worth in yourself, no matter what anyone else thinks.

Deepak Chopra

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main stream media propaganda

It is obvious that the US government is destroying Assange to signal to journalists the consequences of publishing information. It is therefore also obvious that any journalist who fails to use whatever platform they have to speak out against Assange’s persecution has no intention of ever publishing anything that the US government doesn’t want published. Their silence on or support for what is being done to this man can and should be taken as an admission that they are nothing other than state propagandists.

Caitlin Johnstone

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