Capitalism’s Crisis and Covid Psychosis - Pt. 1 - Updated
Decoding the Largest Mass PsyOp in the History of Humanity…And How We Can Recover Our Rationality and Our Rights
The Rosetta Stone in the British Museum London,England - photostocksource.com
By James Heddle, Mary Beth Brangan, EON
Capitalism’s Crisis and Covid Psychosis
Decoding the Largest Mass PsyOp in the History of Humanity…And How We Can Recover Our Rationality and Our Rights
By James Heddle, Mary Beth Brangan, EON
This multi-part series will survey and summarize independent information sources challenging the transnationally coordinated official Covid/ Reset narrative and examine the evidence that it is an on-going global technocratic totalitarian coup attempt. Then we’ll look at the richness of resistance options and ecological, planetarian ‘reset’ scenarios. Please stay tuned…. [ Also published on Planetarian Perspectives ]
Part 1 – Covid as Cover Story and Opportunistic Coup Attempt
Covid as cover story for controlled demolition of a collapsing system
Why the system is in crisis
The Coup D’état ‘Solution’
In this first installment we look at capitalism’s crisis as context. In Part Two we survey the institutional structures and some key actors within them that are shaping our current world system. The constantly shifting roster of key individual actors strutting their ‘five minutes of fame’ on the world stage is important to know, but so is the matrix of interlinked institutions through which they are acting, for it is that system in which we, too are embedded. An awareness of both are fundamental to understanding that system and in designing our most appropriate and effective individual and collective responses.
Resisting the Normalizing of Mass Psychosis
We’re living in California where all individuals are required to wear a
mask in indoor public settings, effective indefinitely as of this writing, regardless of an individual’s vaccination status, joining ten other states. This is because of large numbers of cases of what is very much like a cold.
As this article goes on-line Austria and Australia are in uber-draconian lockdown mode, masking and social distancing mandates are back in force in many US states, while in New York state Assembly Bill 416, has been introduced proposing indefinite COVID prison camps for the unvaxxed, and NationOfChange.org has published a piece titled, Anti-vaxxers: The albatross wrapped around America’s neck. The article spins a specious scenario in which the unvaxxed overwhelm the national hospital systems when, in actual fact, “vaccination drives hospital admissions.” See also here and here.
As informed public dissent spreads, there is a totalitarian counter push to censor and ‘debunk’ the facts and to normalize the mass psychosis. In a strange twist on the Nazi’s Holocaust, in this case, the vaxxed – i.e., those already loaded on the boxcars - are calling for the train to go back and pick up all those left behind.
It’s high time for folks to wake up and smell the Corona rat. Hope this series helps.
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Brangan – Our 40-year partnership has been based on our shared view of activism as a spiritual path of planetary service. Over the past 4 decades, we’ve joined with others nationally and internationally working for social and environmental justice and election integrity through grassroots democratic action. Now as multiple human-created human created crises are converging and desperately needing our attention, our species is confronted with the added spiritual challenge of recognizing the threat to our rights, freedom and our very basic humanity posed by the Fourth Industrial Revolution/Transhumanist/ Great Reset that’s being ushered in under cover of COVID -19.
The current COVID/Transhumanist global coup attempt combines all our previous concerns about technological abuse and lack of true democratic choice in nuclear, electromagnetic frequencies (EMF) and election integrity issues. Our experiences with those issues taught us the callous industry disregard for public health, the meaning of ‘regulatory capture’ and the importance of questioning official narratives and industry PR.
Yet, to our shocked chagrin many friends and colleagues accustomed to thinking critically in those other issue areas seem to have accepted the official COVID narrative and resulting anti-democratic totalitarianism without question. Many others who did question were coerced through threat of job loss or education loss into compliance.
Now however, many are alarmed at the growing numbers of adverse effects and deaths from the inoculations that are now claiming more lives than COVID. Many injected with the experimental gene altering inoculation are now searching for ways to reverse adverse effects. (We’ll explore remedies in a subsequent installment.) Furthering confusion, the spike in illnesses and deaths in those now immune-depleted due to the mRNA treatments is being blamed on the unvaxxed and is resulting in harmful social and family division deliberately fanned by media propaganda. Hospitals are profiting from COVID falsification and ineffective protocols and fail to link the steep rise in deaths and cardiovascular events to the inoculations.
The worst damage of all is happening to our precious children. Children are suffering emotionally and physically from the COVID policies of constant fear mongering, masking, social distancing, zoom education, etc. Mental health issues are rising and IQ levels have dropped massively; teen suicides are up. And now, though the average age of death from COVID before the ‘vaccines’ was 84 with children at virtually no risk, they are being inoculated as young as 5. This horrible move is to get the liability waiver for manufacturers from lawsuits by getting onto the scheduled childhood vaccination list. Already children are reported as having heart attacks, myopericarditis, etc. at heretofore unheard of high rates. The extent of future harm is unknown, however there is evidence that the spike proteins concentrate in the ovaries and testes posing the terrifying risk of large-scale infertility.
Genetic alteration resulting from the inoculations is alarming enough. However now researchers around the world are discovering various graphene nano-particles in the injections that can act as transmitting and receiving devices activated by electromagnetic frequencies, though the injection manufacturers do not admit this.
But the merging of our biological identity with digital devices is the proudly stated Transhumanist vision and decades of patents and studies prove this technology exists. Transhumanism (de-humanization) is a war against future generations that must be defended against in the present. See also here and here.
Finding a wise and effective course in this charged situation is the evolutionary challenge of our era. We view it as the catalyst for a spiritual awakening not only for us as individuals but also, for us as a species. Will enough humans choose liberty over false promises of safety to resist this tyranny?
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Heddle – My academic training and professional experience has been in the interlinked areas of sociology, psychology, media studies and education – all of which helped equip me to recognize a psychological operation (PsyOp), a propaganda-induced public hysteria when I saw it.
The occurrence of widespread collective craziness is a phenomenon not new to social science. From the mid-eighteenth century on thinkers like Charles Mackay, Gustave Le Bon, William McDougal, Hannah Arendt and David Graeber have pondered the phenomenon and warned of its relation to totalitarian forms of government. Its name in current social-psych speak is ‘Mass Formation Psychosis’ – a pandemic of collective mental madness or delusionary group hypnosis induced by false information and fear. Whether spontaneous or induced, it’s happened before in history at different scales with witch burnings, pogroms and genocides too numerous and depressing to enumerate.
What’s different about this one is its global scale and scope and the fact that it has been intentionally induced using the entire new, digitally and electronically enhanced armamentarium of predictive programming, social engineering, false narrative creation and weaponized perception management tools now available in the 21st century for social control.
When combined with synthetic biology, nanotechnology and a globally ubiquitous 5G radiation environment, they become an existential threat to our species.
That’s why my personal alarm siren started squealing, like my partner’s, early in 2020 as the ‘Covid crisis’ just got rolling. Since that time the deep research dive we began then has resulted in the stash of over-flowing file boxes of accumulated documents of evidence and piles of books on which this series is based.
Our motivation in writing is to share what we have learned and to add our voices to the growing chorus of others around the world beginning to sing the same song.
In reaching out to individual readers we are encouraged by the words of Scottish poet, journalist, novelist, and songwriter Charles Mackay - a man of many parts - who is best remembered for his classic 1841 book Extraordinary Popular Delusions and the Madness of Crowds, in which he famously observed, “Men… think in herds… they go mad in herds, while they only recover their senses slowly, one by one.”
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COVID As Cover For The Crisis of Capitalism
“[The] nation state as a fundamental unit of man’s organized life has ceased to be the principal creative force: International banks and multinational corporations are acting and planning in terms that are far in advance of the political concepts of the nation-state.” - Zbigniew Brzezinski – 1969, four years before founding of the Trilateral Commission
The Covid Conundrum
Why and how is it that in the last two years the world economy has been destroyed, lockdowns and medical martial law ‘mandates’ have eliminated constitutional and human rights and world ‘leaders’ and national officials are reciting the same talking points in unison, while a terrified and compliant majority of national populations allow themselves to be repeatedly injected with untested, gene-altering concoctions with proven disastrously adverse health impacts, developed at ‘Warp Speed’ the under direction of military officials, for which manufacturers cannot be held liable - all to ‘protect’ them from an infection with a mortality rate less than that of seasonal flu and a recovery rate of over 99%?
We'll explore in detail the methods used In order to get a substantial percentage of the world's population to succumb to the incessant drumbeat of fear in Part Three. We need to understand the psychological operation (psy-op) in order to become less vulnerable to repeated manipulation.
This is an effort at world system analysis based on our conviction that to identify the power holders and understand the structures of their power is to empower ourselves.
To view this situation as a ‘public health crisis’ is a potentially fatal mistake.
The overarching context for the Covid Conundrum is the fact that neo-liberal, ‘free-market,’ predatory capitalism is on its ass. Its inherent contradictions and corruptions are destroying it from within, while its pursuit of perpetual, unlimited growth on a finite planet is destroying its host. Major wealth holders, financial capital managers like Blackrock, Vanguard and other big players in the global predator casino economy know this. However, we should question why tax revenue generated by us tax-payers and into our social security and medicare trust funds should be "classified information."
In the U.S., Medicare, Medicaid and Social Security trust funds are predicted by some to run short of funding by 2028, triggering widespread suffering. It is hard to know for sure, because in 2018 the U.S. government’s accounting system ‘went dark.’ As financial analyst Catherine Austin Fitts reports, that’s when the Federal Accounting Standards Advisory Board (FASAB) issued FASAB Standard 56, which allowed federal agencies to omit reporting financial data to “avoid the potential of revealing classified information.”
On the global scale, the entire world economy is teetering on the brink of hyperinflation that could make the collapse of the Weimar Republic in the 1920s look like a romp in the park.
That means that all the constituent sub-sectors and pillars of what historian Lewis Mumford called the planetary ‘Power Complex,’ and Seymour Melman termed the ‘Permanent War Economy’ are wobbling, desperate to maintain their power.
This is what scientists call a ‘dissipative system’ in a high state of fibrillation, ‘far-from-equilibrium.’ It is a condition in which small inputs and interventions – the ‘butterfly’s wings effect’ - can precipitate sweeping, system-wide ripples of transformation. That means that creative, positive inputs from us as grassroots actors can potentially have major catalytic impacts. The aphorism “Never let a crisis go to waste” cuts both ways.
That’s the good news. The bad news is that there are many contending factors and malicious actors competing to be the dominant precipitating catalyst with a wide spectrum of potential outcomes, leading to a new, post-implosion stable state.
Before an effective peoples’ response counter-strategy can be formed, mapping the structure of the global system and knowing who the major players are is necessary as well as understanding their motivations, means and methods and understanding the transnational institutional structures in which they operate. This gives us the necessary understanding for 'situational awareness' to efficiently and effectively make change.
A Question of Framing
The COVID Crisis and the advent of medical martial law overseen by a “public-private” partnership of global stake holder capitalists, Big Pharma corporations and the military / national security agency complex cannot be understood if looked at as simply a pubic health crisis. It is a world system crisis of geopolitics and economics and it is only by being understood as a world system crisis that it has any possibility of being eventually resolved in favor of humanity.
Upon switching to this larger frame of analysis, one immediately encounters two analysis-blocking myths, one at the national level, and one at the global level.
Two Party Myth
At the national U.S. level is the Duopoly Myth – the belief that the key issue is that of two political parties vying for control. Historian and political analyst Carroll Quigley put it this way in his classic tome Tragedy and Hope, "That the two political parties should represent opposed ideals and policies . . . is a foolish idea. Instead, the two parties should be almost identical . . . . The policies that are vital and necessary for America are no longer subjects of significant disagreement, but are disputable only in detail, procedure, priority, or method." A careful look shows the there is clearly continuity between ostensibly ‘Republican’ and ‘Democrat’ basic on-going policies.
Nation State Competition - 2D Chess
At the geo-political level is the two-dimensional Grand Chessboard myth famously presented in the work of Zbigniew Brzezinski and others. According to this model, the world is understood as an on-going battle between the major world powers du jour and their respective groups of vassal states contending for global dominance.
Global Governance - 3D Chess
This too leads to a faulty understanding, as Japan-based Canadian commentator James Corbett explains in his How to Play 3-D Chess and other related articles on China’s relations with the west. The old geo-political analytical models just don’t cut it any more. Corbett points out that historian Antony C. Sutton traced the dream of global governance back to the writings of American businessmen in the early 1900s. In his 1985 book, America's Secret Establishment Sutton predicted, "By about the year 2000 Communist China will be a superpower built by American technology and skill."
Technocracy and 3D Chess
Patrick M. Wood furthers this understanding in his Technocracy Rising: The Trojan horse of Global Transformation. In that book and his on-going website Technocracy News, Wood makes the case that, as one blurb puts it, “the dark horse of the New World Order is not Communism, Socialism or Fascism. It is Technocracy.”
Technocracy is the brainchild of ‘peak oil’ pundit M. King Hubert and other scientists and engineers at Columbia University who in 1932, during the height of the Great Depression, developed the idea that the world could best be run by a group of experts… like themselves.
In a 1938 edition of their magazine, The Technocrat, they laid it out like this: “Technocracy is the science of social engineering, the scientific operation of the entire social mechanism to produce and distribute goods and services to the entire population… For the first time in human history it will be done as a scientific, technical, engineering problem.”
Wood explains, “Indeed, Technocracy was an economic system based on science and social engineering. Technocrats were so certain that their scientific approach was so righteous that there would be no need for any political structures whatsoever:
‘There will be no place for Politics, Politicians, Finance or Financiers, Rackets or Racketeers… Technocracy will distribute by means of a certificate of distribution available to every citizen from birth to death.’
A Technocratic Reset
The similarity to the currently proposed system of a Universal Basic Income (UBI) and ‘social credit system’ based on a Central Bank Digital Currency (CBDC) is hard to miss.
“Today,” Wood observes, “Technocracy is embodied in the World Economic Forum’s Great Reset and the various United Nations’ manifestations of Sustainable Development: Agenda 21, Agenda 2030, New Urban Agenda, etc.”
China as Model Technocracy
Though the ideas did not catch on immediately in post-depression America, as Corbett, Wood and others document, it was later successfully exported to China, which is now best understood not as a ‘communist dictatorship,’ but as a successful technocracy. Former Google CEO Eric Schmidt insists that its authoritarian governance system should now be implemented in the U.S., ‘if America is to remain competitive.’ Schmidt, who is now with the U.S. National Security Commission on Artificial Intelligence, is in a key position to help make that happen.
It is a view shared by other Big Tech advocates of bio-digital fusion and Transhumanism. And, as Wood explains, “The dots between Technocracy and Transhumanism are easily connected once its understood that both sit atop the pseudo-science religion of Scientism, which posits that science is god and scientists and engineers are its priesthood.”
Transhumanism – Bio-Digital Fusion
The Transhumanist vision, first articulated by Julian Huxley, founder and the first Director-General of UNESCO, and developed by Max More and his colleagues at the Extropy institute, has as its goal the creation of ‘Human 2.0,’ via synthetic biology, the melding of human biology with technology and artificial intelligence. It is succinctly summarized in World Economic Forum Founder Klaus Schwab’s prediction in a speech before the Chicago Council on Global Affairs in 2019, that "The Fourth Industrial Revolution will lead to a fusion of our physical, digital, and biological identities ."
Wood summarizes, “Technocracy is to the transformation of society as Transhumanism is to the transformation of the human condition of people who would live in that society.”
Trans-humans (dehumanized humans) genetically altered and nano-computer infused will be totally controlled in thought, emotions and behavior by the ruling technocrats in this bio-digital fusion. They are designed to be modern feudal slaves.
Peter and Ginger Breggin fall into both the above-mentioned duopoly and 2D-analysis traps in their nevertheless valuable wide-ranging recent work COVID-19 and the Global Predators: We are the Prey. The Breggin’s two main criteria for identifying global predators are opposition to the presidency of Donald Trump and investment in China, which they condemn as treasonous to America.
Thus the list of “Global Perpetrators” they come up with, though useful, is U.S. billionaire-centric:
Jeff Bezos, owner of Amazon and the Washington Post
Bill Gates and the Bill & Melinda Gates Foundation (BMGF)
Warren Buffett has his own Open Society Foundation and is one of three trustees who direct the BMGF
Larry Ellison, owner of Oracle, second-largest software company in the world.
Mark Zuckerberg of FaceBook/Meta
The Walton Family, owners of Walmart
Steve Balmer, owner of Microsoft
Larry Page, co-owner of Alphabet/Google
Sergey Brin, co-owner of Alphabet/Google
Michael Bloomberg, majority owner and co-founder of Bloomberg L.P., which humbly bills itself as “the global leader in business and financial data, news and insight” for financial decision-makers. He is also Director of the New Economy Forum (NEF)
Charles and Julia Koch, owners of Koch Enterprises
Mackenzie Bezos, who owns voting rights in Amazon
Phil Knight, owner of Nike
Those listed would only represent a small minority of what David Rothkop terms the global ‘superclass.’ In his book, Superclass – The Global Power Elite and the World They Are Making, published in 2008 during that year’s financial meltdown. Rothkop posits that a shifting elite of about 6,000 individuals are able, at any given moment, to implement transnational policy agendas through the global institutions of which they are members.
Which takes us back to Corbett’s 3-D chess metaphor and makes clear why binary, 2-D analyses like the Breggins’ fall short. Corbett explains,
“What if a player thought they were playing two-dimensional chess when in fact they were playing three-dimensional chess? If for some reason they could only see the 2D chessboard, you can imagine how shocked they would be to see pieces dropping onto the board seemingly out of nowhere and taking control of squares. Where did that piece come from? Who's controlling it? Why did it appear there? What is its mission? . . . And is it just me, or is that a white piece that's been painted black?
“To say that this would be confusing for the 2D player is an understatement. It would, in fact, mean that some moves and events that happen in the game would be completely incomprehensible to those solely focused on the 2D match.
“Now what if this was the correct way to envision geopolitics? Not as a regular 2D match between nation-state opponents, but as a 3D game where nation-states compete on the regular board while shadowy forces command extra pieces that appear from some unseen board and work toward goals that are not immediately apparent?
“Does that sound far-fetched? Well, until just a few years ago the term "deep state" was itself considered to be an outlandish conspiracy theory, something so ridiculous that it was not to be countenanced at all in polite, mainstream conversation (the occasional Bill Moyers documentary notwithstanding). But since the mainstreaming of the shadow government began in earnest several years ago, the term "deep state" has entered into the popular lexicon. Even the term "deep state" belies an understanding of the extra-dimensionality of this political entity. It is not operating on the regular plane of politics, but somewhere "deeper," below the surface of what we can see.
“With the 3D chess metaphor at our disposal, then, we are better situated to understand some of the moves that the deep state is making on the "grand chessboard."
There is a large body of evidence compiled by political scholar and historian Antony Sutton, for example, in his work at Stanford and the Hoover Institution and described in his revelatory series of books, that clearly shows the involvement of Wall Street-based conspirators in backing not only the Bolshevik Revolution in Russia and the Rise of Hitler in Germany, but also the Roosevelt Administration’s ‘New Deal’ in the U.S. The return on their investments was huge in terms of their increased wealth and power and their long-term ability to steer global events.
Under Global Capitalism, There Are Only Two Classes — the Elite and Everyone Else
Australian political economist Dr. Toby Rogers recognized this pattern after hearing Robert Kennedy, Jr.’s historic speech in Milan last October.
Dr. Rogers wrote on his Substack blog,
…here is still a piece of this whole debacle that does not make sense to me. Gain-of-function research is just a euphemism for bioweapons research.
Gain-of-function research has never produced a useful consumer pharmaceutical product but it has produced a lot of bioweapons.
Bioweapons research has been going on since the first World War — every major industrialized nation has a bioweapons program (check out “Bitten: The Secret History of Lyme Disease and Biological Weapons.”)
During the Cold War the U.S. bioweapons program was designed to defeat the Soviets and counteract any attack on Americans. But under Fauci, the U.S. and China are collaborating on bioweapons research.
At first this makes no sense. Isn’t China our biggest military adversary? If so, why are we developing bioweapons together with them? And if China is our ally in developing bioweapons then who exactly is the enemy they are targeting?
I think a strong case can be made that nation-states no longer exist (or nation-states only exist as an official narrative to keep the peasants in line in each country). Under global monopoly capitalism there are just two classes — the elites and everyone else (us).
Elites around the world have more in common with each other than they do with the average citizens in their country of birth (billionaires are billionaires — it does not matter whether they made their money from state monopolies in China or illegal monopolies in the U.S.).
And the bioweapons apparently are targeting us. The only threat to the billionaires is if billions of people rise up and seize their assets. But the peasants cannot rebel if they are chronically ill and dependent on the cartel for survival.
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Our Mysterious Governance System
Catherine Austin Fitts is a former Wall Street investment banker with Dillon, Read & Co., former Assistant Secretary of Housing under Bush senior, and is now president of Solari, Inc., publisher of the Solari Report, and managing member of Solari Investment Advisory Services, LLC.
In a December 22, 2020 interview titled Planet Lockdown, Fitts said, “‘Mr. Global’ is my nickname for the committee that runs the world. The defining characteristic of life on planet Earth is that our real global governance system is a mystery. Think about it: It’s phenomenal we live on a planet and we don’t demand to know how our governance system really works. Instead, it’s a secret.”
Fabio Vighi, Professor of Critical Theory and Italian at Cardiff University terms it, ‘The Big Other that rules through invisibility.”
Prof. Vighi explains:
By now it should be clear that COVID-19 is, essentially, a symptom of financial capital running amok. More broadly, it is a symptom of a world that is no longer able to reproduce itself by profiting from human labour, thus relying on a compensatory logic of perpetual monetary doping. While the structural shrinking of the work-based economy inflates the financial sector, the latter’s volatility can only be contained through global emergencies, mass propaganda, and tyranny by biosecurity.
International attorney Dr. Reiner Fuellmich’s report entitled Humanity vs. Inhumanity, which investigates the origin and ongoing effects of the COVID crisis concludes that “we are dealing with megalomaniac psychopaths & sociopaths who must be stopped.”
In order to stop them, we have to know who they are and identify the instruments through which they wield their power
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Who Rules the World?
Back in the halcyon days of 2016 Noam Chomsky wrote an eponymous book purporting to answer that question. His answer was, the American Empire and its managers.
Just a year later another book was published that made Prof. Chomsky’s answer seem ‘so 20th century.’
Giants: The Global Power Elite by Project Censored former Director Dr. Peter Phillips followed in the footsteps of the 1956 classic sociological study by C. Wright Mills, The Power Elite, which set out to identify ‘who decides what is to be decided’ in America at that time.
The focus on the US echoed the view famously expressed by Edward Bernays, the father of public relations and propaganda, “The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government, which is the true ruling power of our country.”
Today, as the scope of Giants and the other works show, with the onset of corporate globalization, Bernays’ narrow framing and the national oligarchical patterns that Mills identified in the U.S. are now operative at the international level. Prof. Phillips names the corporations, organizations, institutions, networks and individuals that form the core of this planetary power pyramid, all members of what sociologists and world system analysts now term the Transnational Corporate Class (TCC).
The book focuses on the core of the thousands of capitalist investment firms and banks that are collectively embedded in this system of mandatory growth. Seventeen managers form this core group who control in excess of $1 Trillion in capital investments plus their 199 board directors. They cross invest in each other and in the behemoth corporations like Google, Amazon, Microsoft, etc. After those investments, they must find other ways to ensure growth. Thus we enter the Fourth Industrial Revolution that will provide growth through new asset classes such as the Internet of Bodies, which we’ll talk about later.
Giants builds on decades of work by sociologist Prof. William I. Robinson and others charting the emergence of the Transnational Corporate Class and the infrastructure of organizations and institutions that serve it.
Robinson’s prophetic 2014 book, Global Capitalism and the Crisis of Humanity described how the world now faces an unprecedented combined crisis of social inequality, environmental degradation, global violence and economic instability. He explained how, as Phillips paraphrases,
“…[T]he world system has centralized and over-accumulated capital to the point where investment opportunities are limited and that there are only three mechanisms of investing excess capital: risky financial speculation, wars and war preparation; and the privatization of public institutions. The use of these mechanisms tends to result in a government legitimation problem, in which democratic structures are continually undermined and militarized police states are emerging around the world.”
The Global Liquidity Trap
2019 was an alarming year for knowledgeable players in - and astute analysts of - the global casino economy. This is despite rosy claims from some quarters of its ‘recovery’ from the 2008 near collapse. Caught in a pincer movement between low interest rate liquidity and rising levels of debt, the globalized monetary and financial system was clearly, for those in the know, sailing between Scylla and Charybdis. “For the first time since the Great Depression,” opined the Financial Times, “the world is in a global liquidity trap.”
A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers holding cash rather than holding a debt (financial instrument) which yields so low a rate of interest." (Wikipedia)
Gita Gopinath, chief economist of the International Monetary Fund, explained, "For the first time, in 60 per cent of the global economy — including 97 per cent of advanced economies — central banks have pushed policy interest rates below 1 per cent. In one-fifth of the world they are negative…. It has led to the inescapable conclusion that the world is in a global liquidity trap, where monetary policy has limited effect. We must agree on appropriate policies to climb out."
On the GoldCore.com website, another commentator pointed out that this was coming “at a time of high domestic debt levels, no real wage growth and a global debt level of over $217 trillion.” She reported that, “Combined with low productivity across the developed world, experts are beginning to wonder how the financial system (and the individuals within) will cope.”
The Solution? Pre-emptive Bailouts
Pam Martens and Russ Martens at the Wall Street on Parade website have uncovered a deeper layer of this story. Pointing out that Wall Street banks own the New York Fed, they go on to report report, “In the last quarter of 2019 – before there was any news of COVID-19 in the U.S., and months before the World Health Organization declared COVID-19 a pandemic – the Fed pumped $4.5 trillion in cumulative repo loans to unnamed trading houses on Wall Street – its so-called ‘primary dealers.’”
They comment, “That strongly suggests to us that wall street banks had a serious problem independent of the virus outbreak. Mainstream media refused to cover this story in any depth, leaving the heavy lifting to Wall Street on Parade, which has since that time written more than ten dozen articles chronicling this fed bailout.”
Graphic: Wall Street on Parade
Referring to the above chart for a quick snapshot, their report continues,
“… A quick gauge of the depth of the crisis in the last four months of 2019 is to compare the total of repo loans made in the 2008 financial crisis to those made in 2019….
“The 2008 financial crisis was the worst in the United States since the Great Depression. Century-old Wall Street financial institutions were collapsing like a house of cards. And yet, the Fed only funneled a total of $3.144 trillion in repo loans to its primary dealers from January 2 through December 30, 2008. Instead, the Fed decided to set up an alphabet soup list of emergency bailout facilities through which it secretly issued $29 trillion in cumulative loans from December 2007 to July 2010.”
“Looking at the chart above and now having the precise tally of the $11.23 trillion in cumulative repo loans the Fed made from September 17, 2019 through July 2, 2020, it now appears that the bulk of the emergency repo loans were a stand-in operation until the Fed could roll out its full ensemble of emergency lending programs, which it carefully characterized as ‘in response to COVID-19.’
“So the question is, if the pandemic was officially declared on March 11, 2020 and the first case of COVID-19 in the U.S. was confirmed by the CDC on January 20, 2020 – what caused the financial emergency on Wall Street in the fall of 2019 that required trillions of dollars in repo loan bailouts from the Fed?
“The Fed has failed to provide any credible answers to that question.”
That’s why the overall context for the TCC’s attempted Covid Coup is the crisis of globalized capitalism itself.
Clearly, our economic system is stuck on self-destruct. However, the top wealth holders, bankers and asset managers of the world have seen it coming for decades and produced detailed plans to ‘reset’ and transform it.
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In the next installments of this series we’ll continue our inquiry into who is doing what and with which and to whom.
Check out Part Two – Global Government vs. Global Governance
In the final installment – What Is To Be Done – we’ll begin what will be an on-going exploration of what we can all do to make the ‘End Times’ be just the beginning of a peoples’ planetarian reset.
Please stay tuned, help spread the word and support our work with a tax-free donation.
James Heddle and Mary Beth Brangan co-direct EON, the Ecological Options Network a tax-exempt, non-profit organization.
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