In June 2019 the Bank for International Settlements, the world’s central bank, published its Annual Economic Report. This began with the statement ‘It was perhaps too good to be true’ — the ‘it’ being the recovery from the 2007-2009 Global Financial Crisis.https://bis.org/publ/arpdf/ar2 please log in to view this image Describing financial markets as ‘jittery’, the report warned investors about the social and political backlash against what it called the ‘open international economic order’, which the BIS predicted would continue to cast a ‘long if unpredictable shadow’ over the global economy. ‘From a historical perspective,’ it continued, ‘it is not unusual to see such surges of sentiment in the wake of major economic shockwaves: the Great Depression marked the end of the previous globalisation era. This surge will be a force to contend with in the years to come.’ In July 2019, the BIS called for ‘unconventional policy’ to ‘insulate the real economy’ from further deterioration in conditions, advocating that, by offering direct credit to the economy, central banks could ‘replace commercial banks in providing loans’. https://bis.org/publ/work804.p In August 2019, the global debt-to-GDP ratio had risen to an all-time high of 322%, with total debt reaching close to $253 trillion. Germany, Italy and Japan were on the verge of a recession, and the economies of the UK and China were contracting. That same month, August 2019, BlackRock, the largest investment fund in the world with $6.5 trillion in assets under management at the time (and since then risen to $10 trillion), published a white paper titled ‘Dealing with the next downturn’. This instructed the Federal Reserve, the central banking system of the USA, to inject liquidity directly into the financial system, in order to prevent a dramatic downturn in the economy it predicted to be even worse than that of the Global Financial Crisis of 2007-2009 ]BlackRock argued that, since monetary policy (interest rates on loans and the amount of money in circulation) was exhausted, and fiscal policy (government taxation and spending) would not be sufficient to reverse such a crisis, what was needed was an ‘unprecedented response’. It therefore recommended ‘going direct’. This meant ‘finding ways to get central bank money directly into the hands of spenders’ while avoiding hyperinflation. As an example of which, BlackRock cited Germany in the early 1920s, when fascism rose from a similar financial crisis Later that month, in August 2019, central bankers from the G7 nations (the USA, the UK, Germany, France, Italy, Japan and Canada) met to discuss and approve BlackRock’s ‘unconventional’ proposals. please log in to view this image ft.com Central bankers rethink everything at Jackson Hole Policymakers debate regime shift in global economic conditions in which little is certain In September 2019, the predicted Global Financial Crisis hit when the ‘repo’ (repurchase agreement) market, whose total liabilities had reached around $4.1 trillion, experienced a sudden spike in borrowing rates from 2.43% to 10.5% in a matter of hours. https://zerohedge.com/markets/fed-wa please log in to view this image But rather than letting the banks fail and forcing a bail-in of creditors’ funds, the US Federal Reserve, following the advice of BlackRock, initiated an emergency monetary programme, injecting hundreds of billions of dollars every week into Wall Street. https://ellenbrown.com/2020/05/18/ano Over the next 6 months, the US Federal Reserve injected more than $9 trillion into the banking system, equivalent to more than 40% of the US GDP, effectively providing backup funds for the entire repo market long before anyone had heard of COVID-19. https://newyorkfed.org/markets/data-hub please log in to view this image However, the same month interest rates on the repo market spiked, September 2019, the US President decided to establish a National Influenza Task Force, a 5-year plan to accelerate vaccine development and promote vaccine technologies for a future pandemic. https://govinfo.gov/content/pkg/DC please log in to view this image In anticipation, in October 2019, Event 201, organised by the Bill & Melinda Gates Foundation, the Johns Hopkins Centre and the WHO, simulated an outbreak of a novel coronavirus that, modelled on SARS, was more transmissible ‘by people with mild symptoms’. https://centerforhealthsecurity.org/our-work/exerc And in December 2019, the World Health Organization held a Global Vaccine Safety Summit for vaccine ‘stakeholders’, including national regulatory authorities, representatives from the UN, pharmaceutical companies and funding agencies from around the world. please log in to view this image who.int Global Vaccine Safety Summit Purpose of the eventThe Global Vaccine Safety Summit is a 2-day event, from 2 to 3 December 2019, organized by the World Health Organization and held at the WHO's headquarters in Geneva, Switzerlan... Then on 17 January 2020, when total deaths worldwide attributed to COVID-19 numbered just 6, the WHO adopted the protocols for detecting and identifying SARS-CoV-2 by RT-PCR tests set out in the Corman-Drosten paper. https://eurosurveillance.org/content/10.280 Among its flaws, this set a positive ‘cycle’ threshold of 40, more than 1 trillion amplifications over that at which infectious virus can be detected. This set the template for how to turn a virus with the IFR of seasonal influenza into a pandemic. On 11 March 2020, with the global apparatus in place, the WHO partnered with the World Economic Forum to launch the ‘COVID-19 Action Platform’, a coalition of the world’s most powerful businesses that, within two months, numbered over 1,100 companies. weforum.org World Economic Forum launches COVID-19 Action Platform to fight coronavirus The World Economic Forum has launched the COVID Action Platform to catalyse private-sector support for the global public health response to COVID-19. On the same day, 11 March 2020, the World Health Organization, ignoring its own previous definitions and criteria, declared SARS-CoV-2 to be a ‘pandemic’, and lockdowns were imposed across the neoliberal democracies of Western capitalism Finally, on 15 March 2020, under the cloak of the manufactured ‘crisis’, the Federal Reserve dropped interest rates to 0.25%, and offered discount loans to its preferred banks. By July 2020, the cumulative value of these loans was $11.23 trillion. https://federalreserve.gov/newsevents/pre That’s where most of us came in. But what most of us didn’t know was that the Great Reset of the global financial system supposedly justified and even necessitated by the ‘pandemic’ was initiated 6 months before it was officially declared, and not in response to a virus. By April 2022, the total assets of the US Federal Reserve ($8.9 trillion), the European Central Bank ($9.6 trillion), the Bank of Japan ($6.2 trillion) and the Bank of China ($6.3 trillion) had risen to $31 trillion, up from $19 trillion in September 2019. And as deposits were made in the Federal Reserve, so the money made its way into commercial banks. Although deposits in the the latter had remained on an even upward trajectory through the GFC and bailouts of 2008, in September 2019 there was a direct correlation between the two. However, had the $12 trillion of helicopter money dropped on the collapsing financial sector by central banks reached transactions in the real economy, it would have triggered the hyperinflation that BlackRock had warned the Federal Reserve must be avoided. Lockdown wasn’t imposed to protect the world from a deadly virus, but because the real economy had to be shut down — with most business transactions and consumer spending suspended — in order to insulate it from the vast sums being pumped into the collapsing financial sector. And at the same time that banks were creating trillions of electronic dollars, hundreds of millions of workers were forcibly placed on furlough for months and years on end by national governments, which effectively mortgaged in advance the future labour of their populations. In doing so, governments made sure that the populations of the nation states that they now had the power to ‘lockdown’ were pushed further into debt for generations to come to the same financial institutions that had just been bailed out by the central banks with their money. Just like the austerity imposed after the last Global Financial Crisis, lockdown made certain that the bailout of the banks would be paid by the workers and small businessmen whose jobs and businesses have been bankrupted or placed into debt by the governments enforcing lockdown. So when your Jeremy Hunt tells you that rising inflation, energy prices and the cost of living is because of COVID-19 or ‘Mad-Vlad’ invading Ukraine, he’s fobbing you off with a false explanation and easy scapegoat to blame for the second Global Financial Crisis in 12 years. Image
You may say I’m a dreamer But I’m not the only one I hope some day you’ll join us And the world will live as one.