As G20 debt reaches record levels, the Global Financial Mafia is ready to orchestrate another big crisis
The lunacy
of the current dominant system of financial capitalism couldn't have
been depicted more clearly: the debt pile reaches a historic high of
$135 trillion in the G20 wealthiest countries! It seems that control
has been lost completely, yet, the key centers of the Global
Financial Mafia (GFM) are ready to pull off the plug again, which
means that we should expect another major crisis in global scale
soon.
As UK's
Workers
Revolutionary Party reports:
This
week, the Washington-based International Monetary Fund (IMF) issued
another warning that the world capitalist financial system is on the
verge of a gigantic crash of historic proportions as the debt pile
reaches a historic high of $135 trillion in the G20 wealthiest
countries.
The
IMF warns that this colossal debt, run up by companies and consumers,
will be impossible to service if there is any increase in interest
rates or if central banks cut off the supply of cheap money.
Near
zero-level interest rates and the policy of pumping trillions of
paper money into the banking system after the banking crash of 2008
have had the effect of ‘breeding complacency and allowing a further
build-up of financial excess’ as companies use cheap credit to
‘load up on debt’.
Financial
investors are also loading up on cheap credit to speculate on ‘risky’
shares which, when they crash, will bring down the world’s stock
markets. While these leading financial institutions of capitalism can
see the crash coming they have no idea how to prevent it. The same
IMF report while calling for central banks to rein in cheap credit
and increase interest rates, also warns that in doing so they risk a
worldwide debt default. It says: ‘Too quick an adjustment
could cause unwanted turbulence and international spillovers.’
While
clearly warns about the consequences, IMF, one of the central GFM
tools, gives the signal for another big meltdown.
A
small-scale picture of what we will see in the close future can be
identified in Greece. It is obvious that the European Central Bank
(ECB), another central GFM tool, deliberately keeps Greece under debt
slavery, not only through financial coups, like the one the country
experienced in 2015, but also, by limiting the
flow of money to the country. This was done by excluding Greece from
the latest Quantitative Easing (QE) program, or even, by withholding
profits made by the Greek debt crisis.
Indeed, as
RT
reports:
The
European Central Bank (ECB) has profited handsomely from its holdings
of Greek government debt, according to a document seen by the
Financial Times.
A
written response to a request from a Greek MEP showed the bank
collected €7.8 billion in interest payments between 2012-2016 on
Greek sovereign bonds acquired under its Securities and Markets
bond-buying program (SMP).
Profits
are usually redistributed among the 19 eurozone central banks.
In
2016, the ECB collected more than €1.1 billion in interest payments
on the nearly €20 billion worth of Greek bonds it holds, according
to German daily Suddeutsche Zeitung.
An
analysis from the Jubilee Debt Campaign estimated Greece’s other
creditor, the International Monetary Fund, had made €2.5 billion
from its loans to the country.
According
to Leo Hoffmann-Axthelm from Transparency International, the ECB’s
participation in Greece’s bailout had led to a “conflict of
interest.”
“The
ECB expects repayments on its Greek bonds with one hand while
approving Greece’s reform progress with the other. The Bank is
literally sitting on all sides of the table,” said
Hoffmann-Axthelm.
So, the ECB
is ready to reduce money supply inside a still-struggling-to-recover
eurozone. Through another debt crisis, the ECB will be able to take
complete control of most of the countries and, furthermore, will help
the European banking cartel become more powerful by eliminating much
more competitors.
The result:
more cuts, more austerity, more privatizations, more destruction of
the welfare state, more destructive neoliberal policies for all
eurozone members, as it happened in the Greek experiment. So, maybe
the imaginary
dialogue between the “bosses”
is not that imaginary after all.
Apart from
Brexit and any possible consequences for the neoliberal globalists,
there is probably another thing that the international banking cabal
truly fears. That it may lose control of money supply monopoly
through de-centralized and uncontrolled types of money like Bitcoin &
other Cryptocurrencies. Because, first of all, it will lose
progressively the ability to manufacture financial crises, as more
and more people globally will choose to make transactions through
these Cryptocurrencies.
This
prospect could explain why Jamie Dimon recently declared
war on Bitcoin, and why the
banksters may be feeling quite uncomfortable right now by seeing its
price recovering.
Moreover, in
case that entire countries will choose to adopt a type of
Cryptocurrency, it will be extremely difficult to be controlled
through debt and artificial crises. Then, the international banking
cabal will start seeing its final days.
Comments
Post a Comment