Thanks to Martin Armstrong.
4:00 COVID crisis really began with the Repo Crisis which began in 2019. US banks were suddenly not willing to lend to anybody in Europe, so the Federal Reserve had to step in. And just recently, I spoke to the top 3 major U.S. banks in New York, and they will not accept any European bond whatsoever for collateral. It's interesting to see the capital flows, and there are people who do know what's going to happen in advance and they begin to move their money; that's what our computer picks up.
5:12 He was put into prison under civil contempt, which you're not entitled to a trial. The statute says 18 months; they kept me for 7 years. I was finally released only after my case got to the Supreme Court. The Supreme Court ordered them to explain why I was in prison, and then they finally had to release me and said the case was moot. That's basically the way it goes. HSBC paid a criminal restitution of $606 million dollars.
8:30 The crisis really began when the ECB put the interest rates into negative territory; they did that in 2014. He warned them. Do not do this. You're not going to get out of it. They basically didn't listen. I think I'm at least partly responsible for why the Federal Reserve did not go that far. Once they went negative, nobody was going to buy their bonds. They were forced by law to buy the pension funds, and now all of the pension funds in Europe are insoluble. Now they have a major financial crisis.
9:30 Governments want to default on their debt. They can't do that because all the pension funds will be wiped out. Depending on the country, anywhere between 70% and 100% has to be invested in government bonds. So if you have governments default, you're going to have pension funds wiped out, then you're going to have millions of people storming their palaces with pitchforks. You'll no longer have mortgages, student loans, car loans, etc.
10:35 The problem that he has is that he is a die-hard Marxist for years. The idea of Marxism worked with the Russian Revolution only because serfdom continues in Russia and it wasn't abolished until 1861, whereas serfdom ended in the 15th century in Europe. When that ended, the people didn't own anything. All the property, all the wealth was in the hands of the aristocrats absolutely. They had nothing. So Marx's idea that let's have a revolution, go get their stuff, at least made sense, in the sense that these people didn't own anything at all to begin with. But trying to do that today is quite different: people own their own houses, their cars, they have a career, we're not starting from absolute zero, which is what made Marxism work to some degree, you know, to at least get it off the ground. But Schwab still talks of equality and things of this nature, but that's really kind of nuts because that very idea is what brought communism down.
12:12 How is he being so successful in convincing so many people that this is such a great idea? Why does he have this power?
12:21 He is a very strategic, very cunning type person. [Aren't there other leaders with these qualities who are pro-freedom, pro-capitalism?] He's not a frontman as some of these people think that he's just a frontman for Soros or DAVOS. No, he has been the brainchild behind a lot of this and they have been attracted to him. [Recall that Schwab was an acolyte of Kissinger.] He knows how to manipulate things. He's created this program Young Leaders for Tomorrow. He's taking people and basically indoctrinating them to his philosophies and then puts them in various offices. The head of the EU was on his board. The head of the IMF was on his board. The head of the ECB is on his board. Tedros from the WHO, he put him in there. The head of the United Nations was associated with the World Economic Forum. He knows exactly what he's doing. He's buying his way through government. So it's more or less indoctrinating them, and the politicians really did get scared when Trump was elected. In Washington, DC, they thought it was a fluke. No, they voted against you. You don't understand that. He beat 17 career politicians. It's not that he was the greatest white knight coming to save the world or something. It was that the voters didn't like them [i.e., the politicians] and they didn't want to hear that. So they would rather say it was a fluke. And the AFT, that did a piece in 2016 when Trump was elected, and suddenly that's when democracy became populism. Populism was bad; they just switched the words. The main reason they were so against Trump was because they were afraid that would happen to them, that the career politicians would be simply voted out. If you look at Schwab's 8 Points, besides his "You'll own nothing and you'll be happy about it," he says that the U.S. will no longer be a superpower; that will be shared by the United Nations. He has a whole bunch of things in there, in the 8 Points, that are very critical. And one of them is that democracy will no longer exist. They view that the people voted for Trump and are just too stupid and that we know better.
15:30 They view that the people voted for Trump and that they [Klaus Schwab and the DAVOS crowd] know better. If you look at the structure of Europe, the European Union, he had a hand in that. Yes, you still have a right to vote for an MP, but an MP has no right to make a law or veto a law. The laws are written by the European Commission which never stands for an election. The head of the EU is appointed. She never stands for election. So it's completely a facade that democracy even exists. It does not exist in Europe at all. The people have no right to say we don't like the way this is going, we're going to overthrow the government, we're going to vote them out. You can't vote them out.
16:20 Well, it seems that democracy has disappeared globally. We've been screaming from the rooftop that we don't want mandatory vaccines, we don't want . . . everything that's going on. We've got a dictator in Victoria now that can declare there's a pandemic even if there isn't one present. We've seen a destruction of democracy around the world. I wonder, Martin,
16:40 Are you aware of any of Australia's leaders, or Scott Morrison, or DAVOS clique, as Reiner Fuellmich called it? The carrot that Schwab is handing out [to the different governors, prime ministers, and leaders] is the end to democracy. So they think they no longer have to be accountable to anybody, so they think they're going to be able to pull this off. The whole COVID nonsense is about control. I can tell you absolutely that Schwab told people that the virus was coming. I heard rumors of that as early as September 2019. I believe not only was it deliberately created in a lab but that it was deliberately planted in China in an effort to blackmail China into joining the Great Reset. They had to get rid of Trump to do it, and they had to get both Putin and China under their wings as well. Marxism would have worked had they had Europe and the United States at the same time. But it's just nonsense. I was actually called in by China to help them become capitalists. I flew over there and it was interesting to watch. The Chinese were substantially different than the Russians. The Russians basically went from communism to an oligarchy. In China, I was impressed that they were not interfering; they were letting everything go and they were tracking it. They were tracking 249 varieties of tea in China. I had no clue there were that many. They wanted me to answer why this one tea was selling for $1 here but $5 someplace else. I asked, "Where does it come from?" And they said here. And I said, "Well, first you have transportation costs. Secondly, it must be a good tea, since some people are willing to pay more than something else." They didn't understand these things. (I wonder what year he is talking about.)
17:00 Obedience to Authority, Stanley Milgram, 1974. Came out of the Nazis during
WWII, with the "just following orders" ethic. He discovered
that if the government tells them to do something, they'll do it. This is
why you see people driving around in their car by themselves with a
mask.
Civil unrest will
accelerate the crash? Yes. Google the papers from Amazon on how to prevent a union from forming, based on a study that created a diversity
index. The more diverse a company is, the less likely they are to form a
union. From that concept, can you extrapolate what it must be like trying to
form a sovereign nation with the breadth and variety of immigration into the
United States?
