GLOBAL FINACIAL CRISIS: 7.30.22 - Preparing For the Next Collapse

Preparing For the Next Collapse - Central Bank Digital Currency Is Coming – Matt Agorist - https://www.prophecynewswatch.com/article.cfm?recent_news_id=5478 The Office of Financial Research (OFR) is the independent bureau within the United States Department of the Treasury which was formed in response to the financial crisis of2007-08 -- and the subsequent Great Recession that ensued. The OFR's responsible for collecting financial data and making recommendations to the Treasury's Financial Stability Oversight Council (FSOC) based on that data, who then "responds to emerging risksto the stability of the United States' financial system." This is the same department, who for the last 2 years, oversaw one of the largest transfers of wealth in the history of the world -- and they approved every bit of it. Theirinfluence in the global economy cannot be overstated, which is why the OFR's recent white paper is particularly troublesome. On July 11, 2022, the OFR published a working paper advocating for a Central Bank Digital Currency. In their abstract, the authors claim that a CBDC will counter against bankruns by "monitoring the flow of funds into CBDC" which "allows policymakers to identify and resolve weak banks sooner, which also decreases depositors' incentive to run." While this may seem like a good way to prevent a bank run, the fact that a bank run is happening at all should send chills down your spine. The fact that the OFR is preparingfor one is unsettling enough, but the fact that their answer is a CBDC should make everyone start to pay attention. Remember in February when Canada's Prime Minister began freezing the bank accounts of protesters who stood against tyrannical mandates and arresting them? Not only did theygo after the protesters, but the government went after the bank accounts of those who provided monetary support in the form of donations as well. For practicing their free speech, Canadians were persecuted and driven into financial ruin by the government who claims to protect them. This was all carried out with zerodue process, without any democratic input at all, and with zero resistance from the banks, who later apologized. Think about the ease with which this was done using the Canadian dollar and real money inside real banks and then consider the implications had the Canadians already adoptedthe federated digital ID system with a digital asset controlled by the central bank and the state. Sounds like a conspiracy theory, doesn't it? Unfortunately, it's not and it will be here before you know it. But don't take my word for it, listen to Neil Parmenter, the President and CEO of the Canadian Bankers Association explain how this new system, supported by the World EconomicForum, will work. Plastic credit cards, ID cards, and cash are a thing of the past. Under the Great Reset, your entire financial portfolio will be controlled by the central bank and your assets relegated to a Central Bank Digital Currency (CBDC), that canbe turned off in a split second by the tyrannical regime you dare to criticize. "Canada's banks are perfectly situated to help lead the creation of a federated digital ID system between government and the private sector. The World Economic Forum agrees." ~ Neil Parmenter President & CEO Canadian Bankers Association pic.twitter.com/VT8PA14sjH -- Cecil Charles (@thececilcharles) February 23, 2022 We just witnessed Canada seize the assets of its citizens for peaceful protest, and now they are pushing a new system in which the state and central banks literally controleverything. And it's spreading -- to America. On top of this month's working paper, in February, Federal Reserve Board Governor Lael Brainard laid out plans for the United States to adopt a similar system. "It is essential that policymakers, including the Federal Reserve, plan for the future of the payment system and consider the full range of possible options to bring forwardthe potential benefits of new technologies, while safeguarding stability," Brainard said in remarks prepared for delivery to the U.S Monetary Policy Forum in New York. "A U.S. CBDC may be one potential way to ensure that people around the world who use thedollar can continue to rely on the strength and safety of U.S. currency to transact and conduct business in the digital financial system." Don't let the rhetoric about competing in the digital currency age fool you. Bitcoin and other decentralized cryptocurrencies are a threat to the global banking cartel becausethey cannot control it. The anonymity and independence fostered by cryptocurrencies on the blockchain are enemies to the ruling class who seek to maintain control through centralization. This is why China, last year, banned cryptocurrency trading and mining. It is a threat to their totalitarian grip over its citizens. It is also why they have ushered in thedigital yuan. China has been working on their own digital currency since 2014 and the e-CNY is already being pushed on its citizens. The e-CNY is completely controlled by the People's Bank of China (PBOC), the country's central bank and the Chinese Communist Party who exclusively leads the People's Republicof China. Every single transaction conducted with the e-CNY is a matter of state record. Given China's Orwellian social credit system which punishes people for smoking, bad driving, shining a negative light on the CCP, and wasting money on "frivolous purchases,"the idea of the state controlling the whole of an individual's assets is chilling. Yet this is exactly what has been unravelling in China for the last 8 years. And others are now following suit. One indicator that CBDCs are an ominous ploy by the banking cartel and the state to take over our lives is the fact that the Atlantic Council is a lead proponent of them.For those who may be unaware, the Atlantic Council is the think tank contracted by Facebook and Twitter to conduct censorship operations on their platforms. Their censorship arm, known as the Digital Forensic Research Lab, was suspected to have played a large role in the removal of hundreds of anti-establishment pages in 2018and the years after. On their website, the Atlantic Council advocates for central bank-controlled digital currencies, and notes how 87 countries - which account for over 90% of the world's grossdomestic product - are exploring a digital currency, and five countries have already launched one. One of the main reasons the council and others advocate for such a centralization of power is to limit or prevent "illicit activity." This is a prominent selling point fromboth the Atlantic Council and the equally dubious World Economic Forum. In their White Paper Series on a Digital Currency Governance Consortium, the WEF outlines a plan for private entities, i.e. central banks, and the state to work together toprevent any activity the two deem "illicit" -- like protesting forced vaccinations, for example. An outspoken opponent to the CBCDs is Maajid Nawaz who recently appeared on the Joe Rogan podcast and laid out in shocking detail the implications for such a system, whichas illustrated above is being pushed by all the world's power players. In his example, he notes that the vaccine passport system is the gateway through which the digital currency will be pushed. Nawaz detailed the new system. "So the vaccine passport infrastructure is in place. But now we know that the vaccine doesn't stop infection or transmission but the Checkpoint Charlie exists everywhere.They bring in digital banking, central banking, digital currencies. You've got a scenario now that you're checking in and out everywhere you go, using vouchers that are programmed and you can only spend where you're told you can spend them. "There's another word for that. That's called the Chinese social credit system. That's what it's called. And anyone who watches Black Mirror will know what I'm talking about,"Nawaz said. "So what they are telling us, and when I say they, who's they, people in power, that's the head of our economy, the Chancellor of the Exchequer, the second most powerful personother than the prime minister, and maybe the foreign secretary in the UK, right? "He's telling us I just played it there for you. He's telling us that's what he, as the UK, the head of the G7 want to bring in for the G7. So a scenario where like in NewYork at the moment, because the passport infrastructure is in place, you bring in that digital currency, and you've got this total control. And if I'm speaking to you the way I'm speaking now, and my employer or government... deems me as saying or doing somethinginappropriate, suddenly, I can't actually pay to come here and speak to you anymore. My digital currency won't even pay for the ticket. Because it will be known that I'm coming to speak to you, 'sorry, your vouchers don't allow you to purchase that ticketto go and speak to Joe.'" This is a system that Hitler, Stalin, or Mao would have relished. Imagine a dictator having global transaction censorship across their empires, and at the touch of a buttonthey could silence their political enemies and propel them into financial ruin. That is what's coming. -------------------------------- 14 Signs That The U.S. Economy Is Poised To Crash Really Hard During The Second Half Of 2022 - by Michael Snyder - http://theeconomiccollapseblog.com/14-signs-that-the-u-s-economy-is-poised-to-crash-really-hard-during-the-second-half-of-2022/ It looks like we are going to get official confirmation that a recession has already begun when the GDP number for the second quarter comes out later this week. But that isn�twhat we should be focusing on. Yes, things weren�t great during the first half of 2022, but they are going to be significantly worse during the second half. Small businesses are starting to fail all over the country, a housing crash of potentially epic proportionshas started, layoffs are on the rise from coast to coast and economic activity is really slowing down all around us. So if you think that things are bad now, just wait, because they will soon be a whole lot more painful. In recent days we have gotten more new numbers which seem to confirm that a major economic slowdown is upon us. The following are 14 signs that the U.S. economy is poisedto crash really hard during the second half of 2022� #1 One survey that was just released discovered that 35 percentof all small business owners in the U.S. �could not pay their rent in full or on time in June�. #2 A different survey found that 51 percent of all small businessesowners in the U.S. believe that rising prices could �force them to close their businesses within the next six months�. #3 It is being reported that 45 percent of all small businessesin the U.S. have already decided to freeze the hiring of new workers. #4 Sales of previously owned homes dropped 5.4 percent duringthe month of June. That is now the fifth month in a row that we have seen a decline. #5 In three-fourths of the metro areas that Redfin tracks, atleast 25 percent of home sellers reduced their asking price during the month of June. #6 Blackstone has prepared a war chest of 50 billion dollars sothat it can scoop up depressed real estate all over the country after housing prices have crashed in the months ahead. #7 The number of Americans applying for jobless benefits has risento the highest level in eight months. #8 Employment postings for software development jobs have droppedoff by more than 12 percent during the past four weeks. #9 The Conference Board�s index of leading economic indicatorshas now fallen for four months in a row. #10 The S&P Global Flash U.S. PMI Composite Output Index justwent negative for the very first time since the last recession. #11 The latest number for the Philadelphia Fed manufacturing indexcame in at -12.3, and that was much worse than what most experts were anticipating. Any reading below zero indicates contraction, and needless to say this reading was way below zero. #12 Inflation continues to rage out of control even as economicactivity in the U.S. significantly slows down. If you can believe it, the average price of a used vehicle in the United States has now risen to a whopping $33,341. #13 The Atlanta Fed is now projecting that U.S. economic growthfor the second quarter will come in at -1.6 percent. If it is ultimately confirmed that the U.S. economy has already been contracting for two quarters in a row, that would mean that we are officially in a recession right now. #14 Thanks in part to the rapidly tanking economy, Joe Biden�sapproval rating has plunged all the way down to 31 percent. At this point, even the tech giants are extremely concerned about what is coming. For years, nothing could seem to quash the relentless optimism of the big tech companies, and their stocks soared to absolutely absurd heights. But now everything has changed as we head into the second half of this year. The following comes from the Washington Post� Big Tech is bracing for an economic recession and an uncertain future. That, in turn, is triggering more economic angst. The biggest tech firms, most of whom report quarterly earnings next week, have offered recent hints they are hunkering down. News of layoffs and hiring slowdowns have becomecommonplace across Silicon Valley. Start-ups are saying capital is drying up. Workers are being put on notice that businesses are changing. I don�t remember ever seeing such pessimism from Silicon Valley. Incredibly, even the Biden administration is admitting that the economy is slowing down, but Janet Yellen insists that what we are witnessing is quite �appropriate� for a �healthy economy�� Treasury Secretary Janet Yellen acknowledged Sunday that the U.S. is experiencing an economic �slowdown� but downplayed the potential for a recession, arguing that the countryis in a period of �transition� following rapid economic growth. �The economy is slowing down,� Yellen said on NBC News� �Meet the Press,� adding that a correction is �appropriate� for a healthy economy. You can believe her if you want. But she also told us that inflation would be �transitory�, and we can all see how that prediction turned out. Even though we are still only in the early stages of this new recession, lines are already getting really long at food banks all over the nation. The cost of living continuesto soar to unprecedented heights, and this is hitting the poor harder than anyone. In the months ahead, we should expect to see a tsunami of layoffs, stunning declines in housing prices, hordes of small businesses going under and a tremendous spike in thenumber of bankruptcies. Needless to say, all of this will not be good for the financial markets either. The stage is clearly set for the sort of historic economic meltdown that I have been warning about for a long time, and the pain that our society will experience will be extremelysevere. I hope that you are using this summer to get prepared for the difficult times that are ahead of us. The remainder of 2022 is not going to be pleasant, and 2023 is going to be even worse. --------------------------