Bank Failures Will Force People to Accept CBDC's
March 6, 2024
Many banks are teetering on the edge of insolvency.
"If you've been suspicious that the government and banking cartel have been purposefully trying to destroy the economy, it's because they are - or at the very least they don't care if it collapses. The plan is to eventually generate a crisis so bad that all of your assets suddenly disappear, triggering the SIPC insurance program to return up to a maximum of $500,000 to every individual with accounts at one of their member banks.
This will not be returned in dollars as that would be impossible. Instead, a new currency will be issued: a Central Bank Digital Currency, and your insured savings will be returned in that. Your only other choice will be to lose everything, so I think we can have high confidence that everyone will line up to take whatever deal they are given."
By Tom Ford
(henrymakow.com)
Linked below is a very low level documentary along with the book it is based on. It discusses the astonishing and terrifying true nature of our financial system. Here's a high level synopsis.
All tradeable securities (stocks, bonds, ETFs, etc) are held by central clearing banks in large pools. In a strict, purely legal sense, the bank owns these assets and you only own a "claim" to them. The bank uses virtually all of these securities as collateral to create derivative contracts and sell them to third parties. Those third parties are first in line to get paid if the bank's assets (ie. your savings) have to be liquidated. You are last in line, meaning all of your assets, your retirement, and everything you think you own in your savings will be gone in a large enough banking crisis. Yes, this includes your 401K, your pension, and everything in your Robinhood portfolio.
This is completely legal. They've been slowly changing the laws and winning court cases for the last several decades to make this happen.
If you've been suspicious that the government and banking cartel have been purposefully trying to destroy the economy, it's because they are - or at the very least they don't care if it collapses. The plan is to eventually generate a crisis so bad that all of your assets suddenly disappear, triggering the SIPC insurance program to return up to a maximum of $500,000 to every individual with accounts at one of their member banks.
This will not be returned in dollars as that would be impossible. Instead, a new currency will be issued: a Central Bank Digital Currency, and your insured savings will be returned in that. Your only other choice will be to lose everything, so I think we can have high confidence that everyone will line up to take whatever deal they are given.
This will massively redistribute wealth. All millionaires and billionaires will be instantly erased, which will serve further as a selling point for the ignorant masses. The real goal though, of course, will be to further control our lives, give the government perfect transparency into everyone's spending, eliminate all possibility for tax evasion, and have perfect micromanaged control of the supply of money. For example, if inflation is running hot in one category, the government will be able to program quotas into your bank account, shutting off your ability to purchase certain goods at their whim.
Get out of debt. Governments will destroy your assets while still requiring you to pay your debts, as they did during the Great Depression of the 1930s. Convert useless dollars to tangible things that exist. Farmland, if you can afford it without a mortgage, is one of the best options. If you're not that rich (few are) start hoarding gold (silver if you're really broke) and tell no one.
This is probably the most important book anyone can read to gain an insight into how truly rigged the whole financial system is. The world truly is a banker's playground.
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Deckard666 comments-
Well it's a start that you see through it ... but it goes much deeper and it's far worse than you can imagine right now. I'm saying that because you recommend to buy farmland. You don't own that land. You cannot own that land. You have no money to buy it with. "Dollar" isn't money ... it's legal tender. Buy Gold with it? You cannot own that Gold. Same reason.
And I know it will piss people off but nevertheless here's the thing: You are not not wiser than the people who have planned what's coming not only for years or decades but centuries. They know that there's this bunch of wannabe smart folks who think they can save their wealth with "precious metals". Why? Because you're programmed by them to do so.
Here's what's gonna happen: The ownership and use of "precious metals" as means of barter will be forbidden. There will be a time period in which you can turn it in and receive CBDC credits for it. If you don't turn it in and are caught hiding it or trying to trade it you can be lucky only to end up in jail. But I doubt it. We're depopulating and that's a good reason as any to get rid of you.
How will they get you? Well there's this social credit system and everybody who rats someone out who hoards precious metals will receive points on his score. Extra calories per month, better transportation etc. ... everything slaves hunger for. So anybody who knows that you ever bought Gold or Silver ... you get it who's gonna turn your ass in.
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You already own nothing, and they don't care if you're happy or not.
Fred B said (March 7, 2024):
I saw a debate on YouTube about 4 years ago between a representative of the US Fed and a big wig representing the commercial banks. It was clear back then that the plan of the central banks is close down as many commercial banks as possible. With digital currency the MBA technocrats have concluded that local commercial banks are redundant. Everything can be run from a few centers. In the US over 450,000 bank clerks and tellers will lose their jobs. Loans will be granted based on digital information accessible online about the lenders. Most bank buildings will be emptied and sold. No doubt any personal service or inquiries will be automated or outsourced to some other country with low-paid staff and “don’t speaka so good Anglash”. It will be just like they improved the telephone directory system so well.
The corporate bean counters think that digital is better for everything especially if they can keep you locked down in a box with a screen in front of you for the rest of your life, and you own nothing by 2030 and have become a virtual reality anyway – if they let you live that long.