Remember those old ads showing a senior couple lounging on a warm beach, captioned “Let your money work for you”? Or the scene in Mary Poppins where young Michael is being advised to put his tuppence in the bank, so that it can compound into “all manner of private enterprise,” including “bonds, chattels, dividends, shares, shipyards, amalgamations . . . ”?
That may still work if you’re a Wall Street banker, but if you’re an ordinary saver with your money in the bank, you may soon be paying the bank to hold your funds rather than the reverse.
Four European central banks – the European Central Bank, the Swiss National Bank, Sweden’s Riksbank, and Denmark’s Nationalbank – have now imposed negative interest rates on the reserves they hold for commercial banks; and discussion has turned to whether it’s time to pass those costs on to consumers. The Bank of Japan and the Federal Reserve are still at ZIRP (Zero Interest Rate Policy), but several Fed officials have also begun calling for NIRP (negative rates).
The stated justification for this move is to stimulate “demand” by forcing consumers to withdraw their money and go shopping with it. When an economy is struggling, it is standard practice for a central bank to cut interest rates, making saving less attractive. This is supposed to boost spending and kick-start an economic recovery.
That is the theory, but central banks have already pushed the prime rate to zero, and still their economies are languishing. To the uninitiated observer, that means the theory is wrong and needs to be scrapped. But not to our intrepid central bankers, who are now experimenting with pushing rates below zero.
Locking the Door to Bank Runs: the Cashless Society
The problem with imposing negative interest on savers, as explained in the UK Telegraph, is that “there’s a limit, what economists called the ‘zero lower bound’. Cut rates too deeply, and savers would end up facing negative returns. In that case, this could encourage people to take their savings out of the bank and hoard them in cash. This could slow, rather than boost, the economy.”
Again, to the ordinary observer, this would seem to signal that negative interest rates won’t work and the approach needs to be abandoned. But not to our undaunted central bankers, who have chosen instead to plug this hole in their leaky theory by moving to eliminate cash as an option. If your only choice is to keep your money in a digital account in a bank and spend it with a bank card or credit card or checks, negative interest can be imposed with impunity. This is already happening in Sweden, and other countries are close behind. As reported on Wolfstreet.com:
The War on Cash is advancing on all fronts. One region that has hogged the headlines with its war against physical currency is Scandinavia. Sweden became the first country to enlist its own citizens as largely willing guinea pigs in a dystopian economic experiment: negative interest rates in a cashless society. As Credit Suisse reports, no matter where you go or what you want to purchase, you will find a small ubiquitous sign saying “Vi hanterar ej kontanter” (“We don’t accept cash”) . . . .
What you’re about to read will probably shock you to your core. We’re all familiar with genetically modified organisms in food, and we’ve even heard talks about genetically modified animals coming down the pipeline. But are you aware of the fact that the U.S. government is right now using your tax dollars to fund research into genetically modified humans?
A special investigative report by SkyWatchTV uncovers a heinous conspiracy by those entrusted with protecting our freedom and liberty to literally reengineer the human race using many of the same methods commonly used to reengineer food and plant life in the lab. And it’s all happening under the radar with little to no fanfare in the mainstream media.
A short preview of this report on YouTube exposes what the show’s hosts refer to as the coming “genetic Armageddon” – the complete undoing of creation as we know it for the purpose of enriching powerful and greedy corporations. And in the process, humanity will be reconstructed as well, presumably to be more compliant and less resistant to tyranny….
The goal all along, the report suggests, has not been to enhance humanity through biotechnology, but to replace it. And U.S. Representative Bill Foster (D-Ill.), the last scientist in Congress, warned in a testimony before Congress and in a piece for The Hill that the U.S. government has already instructed top-level researchers to begin laying the groundwork for what will eventually become a genetically engineered human race to replace the one we currently have.
“Right now, the top science departments in our government that dole out taxpayer funded revenue have already been ordered to literally create the guidelines that are going to be used for genetically modifying the human race,” Horn adds in a trailer for the series. …
Previously on The Corbett Report we discussed the technocratic agenda of the Trilaterals and their globalist ilk with “Technocracy Rising” author Patrick Wood. Today Wood joins us once again to discuss the upcoming COP21 Climate Conference in Paris and how it plays into the technocrats’ plan to control the world’s resources and implement genocidal eugenics-based austerity.
DN finally aired a portion of this explosive interview (posted to youtube august 4th) but deleted the crucial segments that show a deep policy schism between the pentagon and the whitehouse and illustrates how hidden agendas (“willful decisions” in the words of Gen. Flynn) are invariably attributed to high level “incompetence” by the likes of DN.
Watch the original video carefully to see how the content is completely altered by DN. Jump to the 9:00 mark, which is near to where DN made the first deletion, which begins after Flynn says “I argued about it.” at 10:30 and continues until the interviewer says “In 2012 your agency was saying …” The second deletion occurs after Flynn states “I mean, it was very clear what we were going to face.”
Mehdi Hassan goes Head to Head with Michael Flynn on Al Jazeera:
[no wonder Flynn was such a high-priority target in the neocons’ campaign to oust him from Trump’s cabinet . He’s wasn’t afraid to point out obama’s forked tongue regarding syrian policy and the USA’s support for ISIS -rw]
In the DN clip, fast forward to around 36:00 to see the result.
DN and those who follow it are exemplifying what it means to be a “good german”. Not peace activists at all, but fulfilling their roles as controlled opposition for the war mongers, who are quite clearly using terrorism as an instrument of statecraft, both domestically and in the foreign arena.
John McCain posing with Al-Baghdadi and friends:
The Obama administration is beginning to lose control over the narrative regarding “climate change” and “global warming,” leading it to suspend the First Amendment like it wants the rest of us who don’t buy the hoax to suspend belief in what we see and hear.
As noted by Dane Wigington at GeoEngineering Watch, the “power structure” is in panic mode as more Americans come to realize that the “man-caused warming” storyline is just that: a story.
“In recent weeks,” writes Wigington, “Washington has placed ‘gag orders’ on the following agency employees, ‘The National Weather Service,’ the ‘National Oceanic and Atmospheric Administration,’ and the ‘U.S. Department of Commerce.’ This is a massive red flag that should trigger alarm bells everywhere.” The article links to a supporting document.[PDF]
Bill Hopkins, the executive vice president for the National Weather Service Employees Organization (NWSEO), had this to say:
As a taxpayer, I find it highly disturbing that a government agency continues to push gag orders to hide how they operate. This is the work of the American government, owned by the American public, and should be open to the American public.
We’re not allowed to know how bogus the “global warming” narrative really is
Meanwhile, Jeff Ruch, the executive director for Public Employees for Environmental Responsibility (PEER), also commented on the gag orders:
The National Weather Service is about the last place where national security-style secrecy rules need to be enforced. Everyone is free to talk about the weather except for the people working inside the National Weather Service. Go figure.
Both groups have filed a federal complaint asking U.S. Special Counsel Carolyn Lerner to get the gag orders lifted.
Wigington said he spoke to an NOAA scientist some time ago, who told him, “We all know it’s going on (climate engineering) but we are afraid to speak out, we have no First Amendment protection.” Thus, the new gag order stifles speech even further while chilling federal whistleblower protections as well.
In its press release discussing the gag order, PEER noted that a key provision of the Whistleblower Protection Enhancement Act of 2012 – an Obama-era law – supposedly curbed the use of blanket nondisclosure policies or agreements, otherwise known as “gag orders,” that are implemented by federal agencies. The law allows for specific exceptions, but they must be included as part of any such confidentiality directive.
In particular, the complaint identified three areas where the order forbids employees of the affected federal agencies from disclosing information. …
The IBM effort to help the NAZIs was described as a “precision, concisely organized effort involving a melding of IBM Headquarters System Engineering, Design Automation and Management, overseen by an exuberant Thomas J. Watson” involved day to day in efforts to maneuver around State Department investigations Watson is said to in addition to the foregoing, to have turned over private National Census documents it collected for Countries throughout Europe and in America to Hitler, in a blatant effort to woo profitable business from Adolf Hitler: by helping Germany locate “all the Jews of Europe” from within demographics stored in the Census data of other countries who hired IBM, so that it could efficiently and proficiently using IBM Tabulation Equipment, sort, file and categorize those very Jews for extermination in the Death Camps, where IBM equipment during World War II continued to be programmed, serviced and SS Death Camp employees trained by IBM personnel, all of it designed by an IBM greedily seeking to achieve “2nd Largest Customer” status for the country of NAZI Germany, even when it was at war formally with the United States. Source: http://www.acsa2000.net/ibm_and_hitler.htm
In a classic Putin move, the Russian President presented evidence of G20 member states providing financial support to ISIS…during the G20 summit in Antalya. Speaking with reporters after the summit, Putin revealed:
I provided examples related to our data on the financing of Islamic State units by natural persons in various countries. The financing comes from 40 countries, as we established, including some G20 members
Putin also provided satellite images of the Islamic State’s lucrative oil smuggling operations:
I’ve demonstrated the pictures from space to our colleagues, which clearly show the true size of the illegal trade of oil and petroleum products market. Car convoys stretching for dozens of kilometers, going beyond the horizon when seen from a height of four-five thousand meters
Interestingly, immediately after the summit, the U.S. announced that its warplanes had begun to bomb ISIS truck convoys used to “smuggle the crude oil it has been producing in Syria”. What a strange coincidence. It’s as if the U.S. knew exactly where these convoys were, but didn’t feel compelled to destroy them until now. The world is full of mysteries!
But the real story here is that Putin actually got up in front of the world’s largest economic powers and told them, right to their faces, that Russia knows exactly what they are doing. …