By Matthew Ehret
The western media has been hit with warnings of “financial Armageddon” and the need for a “global hegemonic synthetic currency” to replace the collapsing US dollar under a new system of green finance. These statements have been made by former and current Bank of England Governors Mark Carney and Mervyn King respectively and should not be ignored as the world sits atop the largest financial bubble in human history reminiscent of the 1929 bubble that was triggered on black Friday in the USA which unleashed a great depression across Europe and America.
While I’m not arguing that a systemic change is not vital to protect people from the effects of a general meltdown of the $1.2 trillion derivatives bubble sometimes called “the western banking system”, what such central bankers are proposing is a poison more deadly than the disease they promise to cure.
In principle, the world crisis, is no different from the artificially manufactured crises which the world faced in 1923 when unpayable Versailles debts were heaved onto a beaten Germany, which I elaborated upon in my previous report. It is also no different from the nature of the folly that unleashed unbounded speculation during the “roaring 1920s” which led to the bank-run and general meltdown. Similarly, the solutions being proposed to put out the fire by those same arsonists who lit the matches today are identical to what the world faced in 1933 as a “central bankers” solution for the world depression.
How the 1929 Crash was Manufactured
While everyone knows that the 1929 market crash unleashed four years of hell in America which quickly spread across Europe under the great depression, not many people have realized that this was not inevitable, but rather a controlled blowout….