Posted on 11/08/2021 8:28:31 AM PST by ransomnote
In the spring of 2018, the world’s mountain of debt reached $250 trillion. Now, as 2021 draws to a close, global debt (both public and private sector) has comfortably surpassed the quarter of a quadrillion mark and is about to crash through $300 trillion (Source: Global Debt Monitor/September 14th, 2021, IIF).
What is most striking about this dismal fact is that the voices calling for debt to be reined in are far less audible than one might expect, and the concern that economists and bankers used to express at the uncontrollable rise in debt is less apparent now than it was three years ago. With all pretence to fiscal responsibility and accountability seemingly out the window, it is certainly pertinent to ask ‘What are governments, central bankers and the globalist elites up to?’.
By Tigran Kalaydjian
On October 12th this year, the US House of Representatives gave approval for the raising of the government’s borrowing limit to $28.9 trillion, thus warding off the potential danger of a federal default yet again. While the compliant mainstream media hailed this move as a sensible step that helped avert a crisis, no one was willing to highlight the fact that the absurd tax cuts given to big corporations and the very wealthy by Donald Trump in 2017 (under the so-called ‘Tax Cuts and Jobs Act’) was one of the key reasons why the government’s debt was increasing so precipitously. (Side note: The Tax Cuts and Jobs Act was one of the largest ever transfers of wealth from the majority to the super-rich minority.)
In 2015, global debt was under $220 trillion (Source: Institute of International Finance). This means that in just six years, the world has seen an increase in total indebtedness of around 35%! Meanwhile, the global debt/GDP ratio is now around 360% (Source: Bank for International Settlements). While governments around the world continue to justify these obscene increases in debt by pointing to the support measures they introduced after the onset of the COVID-19 pandemic (e.g., furlough payments, new stimulus packages, support to businesses during lockdown, etc.), the numbers hide an irrefutable fact ― incessant money printing has become the norm around the world, and the pumping of most of this bubble-generating money into financial and stock markets has made a mockery of conventional asset valuation.
However, there is a deeper and far more sinister story behind the obvious manipulation of financial markets that’s taking place, namely the plan hatched by the elites who are rolling out the Great Reset to digitalise money completely and gradually phase out cash-based transactions. Given that global debt has now surpassed all manageable levels and is on course to crash the global economy, the technocrat fanatics/globalist elite/corporate oligarchy have begun to openly speak about digitalising all monetary transactions and utilising the tremendous advances in technology (especially Artificial Intelligence) to facilitate it.
However, what they talk about less frequently is the new global digital currency that will eventually be introduced to replace the fiat currencies of today, which have been hyperprinted into oblivion, and also the sweeteners that will be used―such as the introduction of universal basic income (purely in digital form)―to make these moves more palatable. While the World Economic Forum (WEF) at Davos 2020 did openly discuss the need for creating a ‘credible and trusted’ global digital currency, and Klaus Schwab—the founder of the WEF, whose 2010 report argued that democratically elected governments were no longer the “overwhelmingly dominant actors on the world stage”— has advocated for it in the clearest of terms, what these unabashed subverters of democratic governance are not divulging is that detailed plans on what sort of digital currency will be unleashed on the world—and in what manner—already exist, and the ground is already being prepared for its introduction before the current decade is out.
Furthermore, the mendacious mainstream media will never give a platform to those who point out that the gradual abolition of cash transactions is nothing more than a nefarious assault on human privacy and the ability of people to physically touch and protect their money. The ability to make minor transactions in cash is vitally important to safeguarding privacy and keeping the prying eyes of technocrats (and potentially intelligence services) away from what people want to buy and sell. Moreover, the eventual replacement of cash with purely digital payment systems will inevitably be accompanied by the introduction of a ‘social credit’ system—like in China—that can be used to penalise and punish members of the public who fail to conform to arbitrary rules.
This relentless march towards all-encompassing technology-based tyranny is the natural and inevitable endpoint of unfettered capitalism — the concentration of all the levers of control on society in the hands of the unelected, self-appointed doyens of the capitalist/oligarchic elite who, in collaboration with power-hungry fanatics of technocracy and a political class that has been almost completely bought over, will seek to bring their ultimate plan to fruition ― the transformation of the world into a single market controlled tightly from an obscure centre, and the transformation of all of the world’s workers into direct or indirect employees of a single global conglomerate with branches across the planet (without the right to union representation of course).
As things currently stand, it is difficult to hope that these diabolical plans can be scuppered. The awakening that is undoubtedly occurring in certain strata of society—both spiritual and cognitive—appears to be too slow to create a tidal wave of pushback and disobedience that can derail the meticulously laid out schedule of events that are leading to the end dream of the oligarchy/technocracy/globalism cabal.
However, all is not lost, and at times like this merely maintaining a sense of optimism and working at the grassroots level to institute disobedience are in themselves revolutionary acts, acts that can produce ripple effects and bring about unexpected victories. To quote Benjamin Franklin, rebellion to tyrants is obedience to God. Nevertheless, it is an inescapable fact that more time is needed for the awakening that’s occurring—particularly amongst the youth—to take hold and gather steam. If civil disobedience―a fundamental human right―can slow down the implementation of at least certain aspects of the aforementioned plans, we may be in with a chance to prevent absolute tyranny from being established and to finally dispose of the cancerous and destructive system called capitalism.
As we continue seeing the world’s hedonistic billionaires compete over whose phallic-shaped rocket can take them fastest and furthest into space, let’s hope that enough human beings are accessing real news on alternative news channels and understanding the true nature of what’s going on around them. Perceptive and sentient people must not go along with these subversive plans for humanity. Do not become accomplices. Remove your money from banks, hold on to it in your homes, insist on using it for your daily purchases, and build communities of like-minded people who are committed to maintaining cash as an integral part of daily life. And for goodness’ sake, stop giving your votes to bought-off governments!
Tigran Kalaydjian is a published author, historian and freelance editor/proofreader based in Surrey.
When the debt reaches that insane level, taxes become nothing more than punishment for the masses.
Sooner or later, everyone has to sit down to a banquet of consequences.
Crashing the system so they can enact the Great Reset.
“And the second beast required all people small and great, rich and poor, free and slave, to receive a mark on their right hand or on their forehead, so that no one could buy or sell unless he had the mark—the name of the beast or the number of its name.”
I’d like the a la carte menu, please
We’re doing our part!
A new modern age collapse be upon us without a huge breakthrough of something to pay all those bills.
Yeah, we are spending as if we had free cold fusion energy for all - and maybe the elites will let us have some of it it once they achieve their population reduction goals.
“Crashing the system so they can enact the Great Reset”.
Absolutely!!
Klaus Schwab, head of the World Economic Forum who is handling the Great Reset is a dedicated Marxist and that man is as evil as they come.
Great observation.
My questions are:
Who owns this debt?
Is this just debt alone, or does it include unfunded liabilities?
The solution is simple: tax the rich, or take away all their wealth, and we’d end up with a surplus. Alternately, do away with carbon-based fuels and go with green energy all the way. Or, go full communist all over the world, and deem all the world’s debt to have been ‘paid off’.
“Crashing the system so they can enact the Great Reset.”
Yup. Cloward-Piven.
https://farleftfacts.org/far-left-ideology/radicalization-attributes/cloward-piven/
Who’s the buttmunch trying to discredit this article with the ‘qtardwonderland’ tag?
Cancel it all and start from zero. No one owes anything to anyone. Start from scratch. What’s the worse thing that can happen?
Who owes whom?
I guess it’s like this: the debt has been incurred on the account of normal people (”middle class”). So when it is called in, they take our stuff.
I did not vote for this debt and I don’t personally owe them.
Sixty plus years ago, banks could issue notes up to five times their actual cash money reserves on deposit in savings accounts and trust funds, anything over six per cent interest was usury, and to get money from the people the Federal Government issued bonds of declared face value. Credit cards were not in high use, but it was clear that they were going to be the precursors to great poverty for people who relied on them, because they will have not only stopped saving, but use them to purchase things they simply cannot afford. And it has become so.
For me, I never had or used a credit card until nine years ago. Forty years ago I loaned about $10,000 to a dear friend, who not long after went bankrupt. That sum, and all the interest it might have accumulated since, is gone forever. That "friend" got out of debt and later did well, but never gave repayment to me another thought. She freely consumed a portion of my financial future by borrowing and misusing it in the past. And people will blame me for my own disappointment.
The Democrats have been quite successful in stealing money from the taxpaying individuals and corporations, spending it now with no return expected, gave out the credit to their non-thinking, non-working, leeching parasitic supporters, and stayed in power because of it.
But now they can't even steal enough to remain in power, can they? They have created such a lust for "free things from the government" that there are now not enough taxation permitted to even begin to pay for the largess they are distributing. The governmental"budget" can never be balanced, can it?
So now I only have Social Security, and it is not enough.
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