This article was originally published by Rhoda Wilson at The Daily Exposé.
It is vital that every person understands what the proposed changes to the monetary system will mean. The changes, if allowed to happen, could be the most devastating event in our lifetime and potentially the biggest removal of liberty in modern history.
Richard Hall of Rich Planet TV has produced the video below explaining the dangers of smart money, central bank digital currency (“CBDC”) and removing cash. Everyone needs to watch this video. It needs to be shared widely, particularly with those who think blockchain is “private” and will “beat” the system and with younger generations who think cash is or should be made obsolete.
If the video above is removed from YouTube you can watch it on Bitchute HERE.
What better way to shift the world towards the changes required for the “smart money nightmare” to take effect than a crisis or a series of crises? Could recent interventions by the Bank of England be an indication of such a crisis? We don’t know and we don’t know if it is all happening by design and planned well in advance. But we do know they would “never let a good crisis go to waste.” So recent and significant disturbances in the financial markets are worth noting.
Bank of England Intervenes to Smooth the Market
The British government’s shift toward fiscal stimulus – a plan unveiled by UK Chancellor Kwasi Kwarteng – upended British financial markets. The combination of massive energy subsidies and tax cuts alarmed investors, who worried that the British budget deficit would become unsustainable. The result was a very sharp rise in bond yields, a decline in equity prices, and a historic drop in the value of the pound.
Read more: Bank of England Intervenes to Restore Financial Stability, Deloitte, 5 October 2022
In a scathing verdict on the UK’s plans, the IMF urged Kwarteng to “re-evaluate” the tax-cutting plan, which includes the scrapping of the top rate of income tax and an end to a bonus cap for bankers, saying it will “likely increase inequality.” It urged the UK government to “provide support that is more targeted and re-evaluate the tax measures” during the chancellor’s upcoming announcement.
Shortly after the IMF statement, credit rating agency Moody’s released its own damning verdict, saying the fiscal plan could threaten the country’s credibility with lenders by creating larger budget deficits.
When a government wants to raise money to pay for its spending program, one tactic is to issue bonds. In the UK, government bonds are called “gilts.” When the UK government issues gilts, it borrows money from the buyer. The loan term may be a few months, or it could extend to several decades. Bondholders receive an interest payment during the bond’s life and get back their capital when it matures. The interest rate is also known as “yield.” Today’s bond markets are worth around £100 trillion worldwide, according to the Securities Industry and Financial Markets Association. Every three months the UK’s Debt Management Office (“DMO”) publishes a Quarterly Review summarising its gilt and money markets operations over the given quarter. The latest Quarterly Review is for April – June 2022. It shows that in the first quarter of 2022 (April -June), 27.5% of the UK government debt was held by insurance companies and pension funds.
Read the full article here
