Before I tell you of the connection between the two I must tell you the truth about the true cause of the financial crash and the collapse of the banks. If you are in the UK you have heard the parliamentary version, first that it was Labours fault, then since 2011 that it was the banks fault. The reality is far more disturbing, Read on.
In 1999 the United States government scrapped a piece of legislation called the Glass-Steagall Act of 1933. This forced banks to keep high risk gambling to their own money and not that of their customers, which was the problem and cause of the crash at teh end of the 20’s. It worked well, VERY well in fact. So why then would they scrap it? The opportunity for massive profit, that’s why.
When they scrapped it economists warned them that what they were doing was dangerous and irresponsible and still they did it anyway. The idea being that the banks would, once again, go crazy and start risking customers money all over again. They wanted to cause a crash. The banks however didn’t take the bait. They actually continued to act responsibly, until we got to 2003 and the US government decided they would give them a temptation that they knew they would not be able to resist. They decided to allow all the social housing tenants the right to buy their homes.
The banks saw a chance to get their hands on large swathes of inner city real estate and, as the government there expected they raced to lend money to tenants without doing all the checks they ought to. Presumably they thought that most would be able to pay the debt and that the risks were worth taking. They overstretched themselves and, more crucially were so very wrong as to this assessment.
By 2006 they realised the error they’d made and did their best to sell those debts to other banks globally, lessening their own potential losses. They did of course conceal the truth from the buying banks, they had to and those banks, driven by the same greed didn’t look too closely, they thought they saw huge profit potential. By the time they saw the truth it was too late for them all and it hit the fan. The rest of the crash you know about and still we are reeling in the aftermath. In the UK the fingers were pointed at Labour to start with, as I said above and for THREE years Labours let the Tories and LibDems blame them, despite it not being their fault. Ask yourself why? Then in 2011 when enough people had noticed this they changed the tune and the US banks were blamed by both Labour and the others. To this day the UK government continues to peddle this LIE. That is what it is. Not once have they pointed the finger of blame at the people who engineered it, the US government, or rather the people who own the US government, the extremely rich of corporate America.
These people, if you look at the rich lists for the period 2006 to now you will see that those people made an absolute fortune during the worst years as many firms share prices plummeted, as they swept in and bought up weak and vulnerable companies. They did this quietly, with the media either intentionally misdirecting the people globally or purely by stealth. lieve the latter however as business journalists are VERY savvy. They always see whats happening and report on it, but not this time.
I first found out about Glass-Steagall in 2006 I think it was from The Curious Capitalists blog by TIME magazine, a highly reputable and respected financial blog. It was very clear in its article. I simply looked into things for myself and there it all was for all to see if they had been looking for it. I recommend you look into all the facts I have stated above and then, I defy you, tell you I am wrong. The wealthiest earned BILLIONS of USDollars from 2006 to 2011. It was sickening. At the same time the ordinary working man and woman round the globe felt the pain, and we are still feeling that pain now.
Now, quietly the US government decided to replace Glass-Steagall with something called The Volcker Rule, look it up. What you may find if you look in the right places is that many economists have warned that this new legislation is only good for controlling small and medium-sized banks/financial institutions NOT THE BIGGEST ONES. In other words it is possible, through careful manipulation of circumstances for the biggest banks to be brought down once again in the future. This will allow them to say that they were assured it would work, blame their advisors and rake in billions more in the chaos which smashes the poor 98% AGAIN!
Now, the EU referendum in the UK has the chance for us to get out of the EU and thus get away from the previously blogged TTIP and CETA trade deals which are most definitely NOT in the best interests of the people or democracy. They are solely in the interests of the same multi-national companies and wealthy business types that caused AND PROFITED from the 2006 crash. They are working towards global economic dominion. Various wars have been fought through history and no-one has secured absolute control, yet these mainly American companies are close to doing it through peaceful economic means. But even this is not, in my humble opinion going to be the end of their greed.
Once they have those treaties in place the stage will be set and the pieces moved into place. The final move will be when they decide to force the US government into defaulting on its national debt. We have been close several times from 2008 and 2011 where we all saw them failing to agree on a debt ceiling and the federal government was shutdown for a month or two. This you will notice did NOT happen in 2012 or indeed since, they set NO DEBT CEILING. WHY?? I’ll tell you why, because they are ready, they are letting it go up unchallenged now because they know that the larger the debt is the greater the shockwave effect will be when the world is forced to write-off the US’s debt, much of it being owned by China, the US’s economic rival. China has been trying to stockpile gold, hence the hike in the gold price, perhaps because they see it coming as I do and they are desperately trying to prepare some defence although it will be nowhere near enough.
When this happens it will crush every economy on the planet, even the US’s. The wealthy don’t care about this of course, they are sitting on all the money they have bled from us, through exorbitant governmental contracts over the last 40 years and they are sitting on all that wealth, waiting with their own gold supplies. When the world crashes and market prices go through the floor nations will crumble, companies will start to collapse. It will be not long after that the wealthiest 2% then step up, with their vast wealth and they will ‘save’ the world, and the livelihoods of billions of people by buying up all the valuable companies. They will have secured in one fell swoop total economic domination of the entire planet and nothing and no-one can do anything now to stop them fulfilling their goal. It’s just a matter of time. The media have done their jobs brilliantly, they have distracted the people from the truth for long enough, everything is ready. The final piece as I say are those trade treaties. Japan and China have been suckered into their own equivalents with both the US and Canada. If we do not stop those treaties from being ratified them we are all damned to a financial hell which will see all you aspirational middle class homeowners ALL losing your homes. And this just when you were getting close to having paid it all off. You will be powerless, utterly impotent to stop it happening. Any government which refuses to hand over power to these multinationals and their wealthy owners will see their countries crumble into absolute poverty. They will have no choice but to agree to any terms to save the people.
Mark my words well. Remember where you read this. I’ve been warning people on and off for the last 10 years but sadly it is ignored or blocked outright when I do. DO NOT allow you country to sign those trade deals, remember their names CETA and TTIP if you’re in the US, Canada or the EU.
This is my single biggest reason for wanting the UK out of the EU. If they agree that treaty and we are still in the EU, even if our government pretends to object to it we will still have to implement it, be bound by its undemocratic terms and then be crushed many times worse than if we are not governed by it when they pull the plug.
YOU HAVE BEEN WARNED. PLEASE LISTEN AND SHARE THIS WIDELY AND OFTEN. Thank you for reading.