The recent SVB, Signature Bank, First Republic Bank as well as one of world’s top 30 bank – Credit Sussie are experiencing huge crisis, triggering panics. And it is said the German bank has turn on red light as well. And so Paul Craig Robert’s article The US Has the World Setup for a Worse Financial Crisis than in 2008 caught my attention. Here are the main points:
- Such a crisis, because of US financial dominance and because of the interconnections of globalism, which was a huge mistake for humanity, would be international.
- One way that cause the crisis is the shrinking asset side of banks’ balance sheets but not the liabilities side caused by decades of low interest rate and the current rate hikes not seen since 2006.
- Second avenue to crisis is the $188 trillions of dollars exposure in derivatives held by the five large U.S banks, this dollar amount is much higher than in 2008, so the potential for a worse crisis exists.
- The derivative crisis that occurred in 2008 resulted from the repeal in 1999 of the Glass Steagall Act which had prevented financial crisis for 66 years since its passage in 1933. The Glass-Steagall Act separated commercial from investment banking.
Since back in the 1980s, $50 trillion has been transferred from the bottom 90% of Americans… to the richest 1%. That’s more money than the GDP of China, Japan, Germany, the United Kingdom, France, India, and Italy… combined. All going into the pockets of a short list of Americans.
Wall Street crushed our housing and financial markets in 2008… and came out $39 trillion richer in just 24 months. In 2020, as the world panicked at the start of the pandemic, Wall Street took every advantage they could to make more. And do you know what happened? The top 1% ended up with two-thirds of the wealth created from the global meltdown. Listen to this folks… For every ONE DOLLAR of new global wealth earned by the bottom 90%, the ultra-rich gained roughly $1.7 million…
Households without a college degree saw their share of the nation’s net worth shrink in 2020. Holders of a degree held 71.8% of the national total at the end of last year. The Wealth Gains That Made 2020 a Banner Year for the Richest 1%. There’s a reason the 1% has average gains TWICE as big as the ordinary investor over the span of three decades. And if you’ve ever wondered how… it’s by playing this twisted game only they know the rules to. And maybe the next round of the game has already begun. And if that take place, what’s happening now could be even worse. Are our governments continue to let the situation worse by allowing policies like low/no taxes on the super rich and high tax on the middle class?
By November 2022, more than 634 million people had contracted Covid-19. Over 6.61 million had died. Here comes several whistleblowers reveal to the public what is going on.
According to Aaron Siri, managing partner of Siri & Glimstad LLP, the vaccine manufacturer had secure unprocedent protections from liabilities three decades ago. If they prevail , then in 5-10 years, it will reset the normal health baseline in America for heart issues, cardiovascular disease. That would be the new normal. “I was always told that vaccines are safe. And if a product is safe, why do you need to give the manufacturer … essentially immunity to liability for the injuries that that product causes? Because if it’s safe, certainly in the way that our public health authorities project it safe to the public, there shouldn’t be any injuries, or there should be one in a million, as you often hear.” Aaron Siri reveals to the public in detail (Part 1): Why are Vaccine Manufacturers the most protected, and (Part 2): the dark secret of vaccine business model.
Among all these chao, Victor Davis Hanson spoke of what underspin is The top-down revolution engulfing America. And as the world is gripped by the ongoing pandemic, many questions remain about the origin of the Chinese Communist Party (CCP) virus—commonly known as the novel coronavirus. Joshua Philipp hosted the documentary expose the Wuhan Lab Leak: Tracking down covid’s origin.
