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War, The Great Reset, WEF, Cashless Societies, CBDCs, Social Credit Systems - Complete Control & Totalitarian Tyranny – section (h) Freedom of Speech & Censorship
This video is a follow on from the previous seven videos dealing with the topics I’ve just mentioned. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s continue on talking about Social Credit Systems.

“Mustn’t grumble”
Let’s begin by imagining a situation in the workplace.

Imagine that maybe you just happen to complain about something to do with work to a work colleague,

People often complain about all sorts of things – so this won’t be anything out of the ordinary.

You complain to someone that you thought you were on friendly terms with, but a short while later you discover, much to your horror, that they have then reported what you said to a line manager.

Your credit score in due course drops.

My guess is that you won’t be best pleased with your colleague for snitching on you. You will also probably be unhappy about your boss and you will probably be less well disposed towards your job.

I talked in another video about incentivizing behaviour. Provide an incentive and you will see an outcome. This system could easily set up so as to reward people who snitch. This obviously.encourages people to snitch on one another.

But perhaps this particular scenario is in the big scheme of things it’s not such a problem. You might lose a few points but you can win them back.

You might well have to change your behaviour to ensure it doesn’t happen again.

So, that’s the workplace.

War, The Great Reset, WEF, Cashless Societies, CBDCs, Social Credit Systems - Complete Control & Totalitarian Tyranny – section (g) the Surveillance State part (ii)
This video is a follow on from the previous six videos dealing with the topics I’ve just mentioned. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s look pick up where we left off.

people must be monitored - Surveillance State
It stands to reason then that in order to assess people and ascribe points, the populace must be monitored.

Without monitoring, it would be completely impossible to assess people and ascribe a score.

So, a Surveillance State is an absolutely essential part of this. It’s an integral aspect.

So let’s look at this in a little more detail …

speed cameras
I think it’s true to say that the vast majority of drivers don’t much care for speed cameras. The fact that speed cameras are often vandalized, speaks to the level of dislike drivers have for them.

But anyway …

Systems nowadays are more sophisticated than they were. In years gone by a traffic cop might have used a hand-held radar to determine your speed. Traffic cops still operate nowadays, but the system is much more automated than it was. High tech systems mean that infringements can be detected without any human involvement.

War, The Great Reset, WEF, Cashless Societies, CBDCs, Social Credit Systems - Complete Control & Totalitarian Tyranny – section (f) the Surveillance State part (i)
This video is a follow on from the previous five videos dealing with the topics I’ve just mentioned. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s pick up where we left off and talk about Social Credit Systems some more.

Let’s look at how the System will operate

Attributing scores
In order to come up with a Social Credit score for a person, that person has to be assessed.
An assessment is carried out with regard to how a person behaves.

haphazard
This assessment can not be done in a haphazard fashion.

Points can not be attributed arbitrarily.

Quite the reverse in fact. It has to done in highly ordered manner.

automated system
Where possible the system will be automated.
Algorithms will be written.
Writing algorithms, demands a high degree of precision. This speaks to the level of order necessary.

As far as our Overlords are concerned, the higher the degree of automation the better.

Why? Well … let’s employ an analogy here to explain this issue.

War, The Great Reset, WEF, Cashless Societies, CBDCs, Social Credit Systems - Complete Control & Totalitarian Tyranny – section (e) the Workplace
This video is a follow on from the previous four videos dealing with the topics I’ve just mentioned. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s pick up where we left off and talk about Social Credit Systems some more.

The workplace
The workplace would become an extension of the State.
Fascism was described by Mussolini, the former dictator in Itlay, as a merger of state and coporate interests.

The company will become a tool of the State.

Reports will be made on you of your behaviour at work.

Are you someone who is punctual, or are you often late for work?
Is your appearance at all times as required?
Do you do whatever is asked of you by your line manager?
Do you meet all deadlines set?
Are you somewhat lazy?

I’m sure most of you are aware, but I thought it was worth mentioning anyway … that Fascism and Communism are not so very different in practice. They are both Totalitarian regimes. So same, same but different.

War, The Great Reset, WEF, Cashless Societies, CBDCs, Social Credit Systems - Complete Control & Totalitarian Tyranny – section (d)
This video is a follow on from the previous three videos dealing with the topics I’ve just mentioned. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s pick up where we left off and talk about Social Credit Systems some more.

codes of conduct
A Social Credit System is highly regulated. There would be lots and lots of rules and regulations.

This would mean that strict codes of conduct would be set for citizens, detailing how the state expects its citizens to behave in all aspects of life.

The citizens for their part, are faced with a choice. They can choose to either act in accord with these codes of conduct, or they can go against them. So, it could be argued that they are free to choose.
However, I think this misrepresents the situation somewhat - giving a false impression.

Citizens do have a choice, but choosing to go against the directives of the state is not advisable. The consequences are considerable. Transgressions are punished.

An analogy might help us here. Imagine that you have just withdrawn some cash from an ATM and some man approaches you, demanding that you hand the cash over to him. He’s holding a rather large knife. You can always choose not to hand over the money to the man that’s threatening you, but you run the risk of being stabbed. So, you have a choice, but the choice is, either lose the money, or possibly lose your life. Both are not brilliant.

Likewise, with a Social Credit System.

A Social Credit System puts pressure on people and the pressure that is applied is not without menace. State is saying is “Do as you are told, or else.”

The overwhelming majority of people will probably therefore choose to go along with what the state wants because it’s the lessor of the two evils.

Does this sound like a free society? I think not.

With a Social Credit System, society becomes an open prison. There are no bars, bur everyone is an inmate.

Attitudes & approaches
As a result, people feel forced to adopt a certain attitude to life, a mentality, or mindset. Our Overlords would want people to think in a certain way. They want people to behave and be hard working, but also be compliant, be biddable and be obedient. This is the basic ethos that permeates a society subjected to a Social Credit System. In short, what the State is essentially saying is “submit to the State and you will survive.”

Please note that I said survive. The citizens must be all the above in order just to get by. If you do something different to that which is required of you, there will be consequences. Go against the system in any way and you jeopordise your very survival.

War, The Great Reset, WEF, Cashless Societies, CBDCs, Social Credit Systems - Complete Control & Totalitarian Tyranny – section (c)
This video is a follow on from the previous two videos dealing with the topics I’ve just mentioned. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s pick up where we left off and talk about Social Credit Systems some more.

What I have so far talked about with regard to Social Credit Systems might not seem to some to be all that terrible. But, maybe by the end of the next few videos you might have changed your thinking. Or at least, be willing to give the situation some serious thought.

reward / punishment system
As I said in the previous video, the Social Credit System can be thought of as a reward and punishment scheme.

Those people with good social credit scores will be rewarded. They will be able to get better jobs
This will mean having a decent salary and they will also probably get reductions in rent. So, they will have more disposable income to spend on things that will improve their lives. Overall, it’s likely that they will enjoy a good standard of living - certainly better than those people with lower credit scores. And their children will benefit also. They will go to the best schools and universities. This will enable them to get better jobs in the future. The family as a whole over time, could experience an “escalator effect”, moving up one floor after the other.

So, what about those with not so super social credit scores? Well, they won’t benefit quite so much as those with better scores, but they will still probably do alright. Maybe they might not be able to get the best housing, or be able to afford the nicer things in life, the little luxuries, but they will most certainly be better off than others lower down in the ratings.

Poor performance
All well and good so far you might be thinking … no big deal.

It’s likely that for people who have relatively good credit scores can live fairly well. But what about people who have relatively bad credit scores?

There are always going to be people in society who, for whatever reason, don’t perform as well as others.

I’m not going to go into the reasons why this might be especially as there would probably be as many different reasons as there are people on the planet.

Anyway, once a person slips below a certain threshold, then things could start to get very difficult for them.

People who have bad Social Credit scores will surely struggle.

Consider “credit scores” and “creditworthiness” in today’s financial world generated by companies like Experian for instance. An individual’s “credit scores” and “creditworthiness” allows a lender to determine if a borrower will default on their debt. Credit scores are calculated by a person’s credit history.

As anyone who has had a bad credit score knows, it’s hard to improve “creditworthiness”. You have to work at it and it takes time. Likewise, once you’re Social Cr

War, The Great Reset, WEF, Cashless Societies, CBDCs, Social Credit Systems - Complete Control & Totalitarian Tyranny – section (b) China

This video is a follow on from the previous video dealing with the topic of Cashless Societies and Central Bank Digital Currencies (CBDCs). If you haven’t seen that video, I would recommend you doing so before watching this one.

Let’s pick up where we left off and talk about CBDCs some more.

CONTROL !!!
So, why then do Governments and Central Banks want to introduce CBDCs? Well, as I mentioned before, the reason is CONTROL. Our Overlords are control freaks of the highest order. They’re crazy for control. And they mean to have complete control.

They don’t as yet have complete control, but make no mistake, this is their ultimate intention. By eliminating cash altogether, introducing CBDCs and outlawing Cryptocurrencies, they will gain complete control.

So, these measures will give them the control that they so crave.

Basically, CBDCs represent the completion of their cherished control grid system. It’s their Holy Grail.

Moving on …

Fiat currencies
I should say that I’m not an expert on Cryptos and also that there are an awful lot of them nowadays – too many to keep track of.

But anyway …

I believe that there are some Cryptos which are linked in some way to a commodity. However, I think that I’m right in saying that, for the mostpart, Cryptos, especially Centralised Cryptos, are little better than Fiat Currencies. A Fiat Currency is an unbacked currency.

The Dollar, by the way, is a Fiat Currency - as are all the other major currencies of the world. They are backed by nothing except the good standing of the Government. Need I say more …

The proposed CBDCs would also be Fiat Currencies.

I refer you to videos I’ve done on Fiat Currencies to get a better understanding of this matter.

One of the big problems with the Fiat Currencies / CBDCs and is that Governments and Central Banks could create as much currency as they desired. They would be in control of the Money Supply and judging by history, this would not be a good thing.

Russia has recently announced that it will be fast tracking it’s introduction of its CBDC, so it should be operational in 2023. I assume that they will link it to Gold in some way so that every RubleCoin will be redeemable. But this is speculation on my part. If they do do this, then the RubleCoin would not be a fiat currency and that is very important.

Anyway …

Our Overlords are slowly, but surely moving us towards Cashless Societies, Central Bank Digital Currencies (CBDCs) as well as Social Credit Systems – and this means Complete Control and Totalitarian Tyranny. These things represent the practical part of the WEF’s wonderous “Great Reset”.

Notice that I made these plural. Each country will have their own national control grid – but these systems will all unify to create single overarching system.

Everyone on the planet therefore will be subject to the rule of our Overlords no matter which country you reside in. It’s the “Prison Planet” Alex Jones has been talking about for many years.

So, let’s look at all this in more detail.

Cash & Digital currencies - cash is no longer king
First of all, a distinction needs to be made between “cash” and any “digital currency” in any bank, or on any computer system.

Cash, obviously refers to the physical form of currency, paper money and metal coins in circulation – the ones we use every day in stores and such like. So, this includes all the bank notes and all the coins of whatever denomination.

As for digital currency what I’m referring to are the figures you see when you log in to an online account, or the figures you see when you go to an ATM to check up on your balance, or the figures you see on a monthly bank statement.

It should be said that, up until relatively recently, “cash was king”. That is not the case anymore. Cash is no longer king

War on Cash
Our Overlords have been waging war on cash for a while now. They’ve been trying to eliminate cash altogether and make all Economies 100% digital. And they’ve been doing this bit by bit.

Why would they want to do this you might ask? Well, in my opinion, it’s simply to do with control. Our Overlords don’t like cash mainly because it’s beyond their control – cash is somewhat anonymous and invisible. You can go into a shop and pay for a product using cash and our Overlords would know nothing about it. This aspect irks them.

This, by the way, is one of the reasons why they don’t like precious metals, gold and silver either. Being held in people possession they are beyond the control of our Overlords. It should also be said that silver is the people’s money. And our Overlords don’t much care for the ordinary people of this planet. There are, of course, other reasons than these but anyway ...

Our Overlords are not yet in complete control, but make no mistake, that is their ultimate objective.

So, the war on cash, conducted by our Overlords then has been carried out in order to get rid of cash completely and so that they can bring in centralized digital currencies and extend their control still further and achieve their aims.

But this is not the sum of it.

Harold Shipman was a serial killer in Britain.

He was found guilty of murdering 15 people …. but it’s not known exactly how many people he really murdered. The inquiry that was conducted afterwards identified about 218 victims, but it’s estimated that he killed about 250 people.

He was a GP, a doctor and he worked at a medical practice in Hyde, a large town near Manchester, England.

This is the reason he was dubbed “Dr Death”.

His modus operandii was to administer diamorphine. So a lethal injection ended the livs of his victims.

Shipman was only caught because another GP noticed that the number of elderly patients dying in his care was in excess of normal.

Anyway, that said, I want to conduct a thought experiment, or maybe it should better be described as a social experiment because I want to see what reaction it provokes, if any …

Let’s posit a fictious town with the same population size as the one Shipman operated in. The population of Hyde is some 34,000.

So we have a population in our fictious town of 34,000.

And let’s give that town a name. let’s call it “Compliance”.

Ok, now let’s consider the what our Overlords have called. the “vaccine”.

According to official figures, the percentage of people in the UK as a whole who have had at least 1 dose of the “vaccine” is 78%. For fully vaccinated, the percentage is just over 74%. Let’s assume fpr the purposes of this social experiment, that these figures are accurate, but let’s call it 75% just to make things easy for us.

So let’s assume that the number of people vaccinated in ”Compliance” is in line with UK percentages. So, that means of the 34,000 population, 25,500 people have been vaccinated.

Now, if what I have come to learn about the “vaccines” is to be believed and it’s true that anyone who has had the vaccine will most likely die in the next 5 years, this means that 25,500 people in Compliance will die sometime in the next 5 years.

I don’t know how many doctors there are in Hyde.

This video is a follow on from the previous video dealing with Heroin addiction. If you haven’t seen that video, I would recommend you doing so before watching this one.

Let’s pick up where we left off.

the Money Supply / Massive currency creation
So, in our analogy, money, or rather currency, can be considered as Heroin.

Ever since the Financial crisis of 2007 / 2008, the FED, the Central Bank of the US, has been engaged in a massive stimulus operation – an expansionist monetary policy called Quantative Easing (QE). It’s a large-scale asset purchasing programme. Basically, it’s currency creation.

Since the onset of the Pandemic, the Money Supply, the creation of currency, has increased markedly. Indeed, in 2020, the FED increased the money supply by some 30%. This is truly incredible.

There’s a chart you might want to look at. Those of you who are more visually orientated might appreciate this. Type “FRED M1 money supply chart” into a search engine and take a look. The line chart you will see is a classic Hockey stick shaped chart. Notice that the source is the “Board of Governors of the Federal Reserve System”, so it’s not me just fabricating stuff. And, bear in mind that this is only what they are acknowledging at an official level. There is most likely other stuff they have not made public.

Also, if you type in “FRED M2 money supply chart” into a search engine and look at the chart, then you will the see a fairly different chart – not such a dramatic rise. Be advised that, of course, the Central Banks would rather you to focus on the M2 chart because it doesn’t look quite so bad. Sorry to be course, but fuck them and fuck what they want.

Moving on …

To start off, I must acknowledge Rafi Farber of “the End Game Investor”, because much of what I’m going to say here is based on two videos that he has produced and released on YouTube.

The titles of the videos are “Silver in backwardation for the 3rd straight week” and “The fuse to the end game is 50 basis points long”.

The first video is part of his weekly presentations for the Arcadia Economics channel.

I would highly recommend you watching these videos and any others that he produces.

So, this is a retelling of these particular videos. I thought that this was important information that needed to be shared. I have added to them where I saw fit.

And obviously, I make no claim as regards the originality of the material. It’s plagiarised.

Heroin addiction
That said, let’s get into it and have a look at Heroin addiction.

A Heroin addict gets his “fix” by injecting heroin. The effects of Heroin are primarily physiological.
The Heroin he uses has a stimulating effect on his system.

How does that actually happen?

Let’s look at this in more detail

Hijacking the body’s Reward system
Heroin hijacks the body’s Reward system.

The body’s Reward system conditions behaviour, behaviour which is crucial to an individual’s continued existence. Certain behaviours favourable to prolonging life are rewarded.

This is best described by way of example, so let’s consider the consumption of food. We need food to live. We obviously can not live without it Food can be thought of as fuel. But Mother Nature has designed it so that the act of eating food is actually experienced as a pleasurable activity. Some people are real foodies – they love food. For these people, the pleasurable aspect is very much emphasised. For some though, food is little more than fuel and find little pleasure in it. I dare say that most people exist somewhere in between these extremes. We are all different and we all are situated somewhere on the spectrum.

What happens on a chemical, neurological level in the Reward System?

Dopamine is a neuro-transmitter. It functions as a chemical messenger between the billions of neurons in the brain.

Dopamine is commonly described as a “feel good” chemical – because when Dopamine is produced, the individual experiences pleasurable effects.

Certain actions, or behaviours, like eating, are closely connected to Dopamine release. So, you eat, you get a treat. I should say that the effects are relatively mild, nothing extreme, sufficient to serve a purpose, but little more than that. It’s not like you have an orgasm when you eat – as in the restaurant scene film “When Harry met Sally”. Sorry to be crude.

This is the basic mechanism of the body’s Reward system.
.
As I’ve said, Heroin hijacks this system.

Eating food might trigger the Reward system, causing small amounts of Dopamine to be released, but when Heroin enters the system, it causes the release of massive amounts of Dopamine - amounts way beyond the normal range. So, there is a ver

This video is an update on the situation regarding Russian energy exports to Europe.

Gas supplies to Germany – the NordStream & the Yamal-Europe pipeline
In late February of this year, Germany brought an end to the NordStream gas pipeline project.

This was done after Russia recognised the Donetsk and Luthansk regions as separate states, Republics in their own right. This was before the incursion into Ukraine.

In response, at the beginning of April, the Russian, state owned energy corporation Gazprom stopped delivering natural gas to Germany via the Yamal-Europe Pipeline.

As a result of the Russian military campaign in the Ukraine, the EU put in place certain sanctions on Russia

Lithuania
On 1st of April, Lithuania announced that it would be banning the import of Russian gas as a result of the alleged war crime atrocities committed by Russian troops in the Ukraine.

Payment in Rubles
There have been issues between Russia and the EU regarding not just supply, but payments as well.

In March of this year Russian authorities demanded that gas be paid for in Rubles rather than Dollars and Euros.

This demand proved to be divisive in the EU.

Poland and Bulgaria refused to comply and Moscow’s response was to cut off gas supplies to PGNiG in Poland and Bulgargaz in Bulgaria. This occurred on 26th April.

Historically, Poland imported some 50% of its Natural gas from Russia and Bulgaria some 90% - so we are talking fairly large amounts.

Polish and Bulgarian authorities contested this new measure, claiming that it amounted to breech of contract, but anyway.

In contrast, much to the chagrin of other EU countries, Hungary complied with Russian demands.

On the 6th April, Prime Minster of Hungary, Victor Orban, announced that Hungary was prepared to pay for Russian gas in Rubles as demanded by Putin and the Russian authorities. Hungary, then was the first country to break ranks with the EU directive.

Workarounds
Also, it would seem that some big energy companies in Europe have been buying Russian gas in Rubles on the sly. They are engaged in “workarounds”.

As I understand it, companies Italy, Germany and Austria have opened an accounts in Gazeprombank in order to comply with the demands from Russian authorities to pay for gas in Rubles.

Uniper SE in Germany, Eni SpA in Germany and OMV AG in Austria have opened an accounts in Gazeprombank in order to comply with the demands from Russian authorities to pay for gas in Rubles.

And this apparently does not breech sanctions. The two sets of guidelines issued by the EU have allowed room for manouvre.

The soldiers who liberated the concentration camps in Western Europe in World War II knew first-hand what evil was, or, at any rate, what evil deeds looked like.

The concentration camps were an aspect of the evil of man, made manifest in the world.

It’s difficult for me to properly imagine what those soldiers must have experienced.

But when they stepped into those camps, they were no doubt utterly appalled, sickened by what they saw. They were also, most likely shocked, bewildered by the scenes that confronted them. Nothing in their lives, up until that point could have prepared them for what they were witnessing. It was beyond their everyday, lived experience and probably beyond their comprehension. What they saw, must have been so ghastly as to, for a time, beggar belief.

But what they saw, could not be denied. It was there in front of them. Incredible though it was, nightmarish though it was, it was real. All too real. Horrifically real. And so, they were forced to accept it. They had no choice but to accept it.

What we are witnessing at present has the quality of a nightmare and is likewise beyond the comprehension of ordinary people.

For the vast majority of people Evil exists in a realm beyond their everyday, lived experience. And so, if you try to give them evidence of the Evil that is taking place now, they are likely to dismiss is as absurd. They can not entertain the possibility that mass murder is taking place. It’s just something too preposterous - too incredible to be believed.

But that does not mean it is not real, that it is not happening. All it means is that it’s beyond the comprehension of ordinary humans. And, I would argue, that’s for good reason.

Also, what we are dealing with now is perhaps not so apparent as compared to the scenes from the concentration camps. The soldiers walked in and there it was. However, that is not the case today. It’s not that obvious / evident. That said, for those that care to look, they see scenes of horror and they also recognise it as Evil.

But, if you don’t care to look, you won’t necessarily see it.

It is my belief that we are dealing with something diabolical in nature. I don’t say such things for the sake of hyperbole. Evil exists. Even if you don’t necessarily believe in evil in the Biblical sense of evil, there have been and still are, without doubt, what can really only be described as evil people in the world.

The world is populated by all sorts of people. And extremes do exist.

There are some incredibly good people in this world. And there are some incredibly bad people in this world.

Perhaps we might not care to admit it, but few of us are wholly good. By the same token, few are wholly bad.

Many people in society inhabit the middle ground – where good or bad exists in more moderate forms.

Anyway, I believe that we have to acknowledge that there are people who do bad things.

My remit in this video is very narrow.

I’m not going to talk about the Ukrainian conflict - at least not in terms of the on-going Russia incursion into Ukraine. I obviously have an opinion on this, but I won’t be sharing it here.

The focus on this video is on the cost of arming the Ukrainian forces and also the cost to Europe of hosting over 6 million Ukrainian refugees.

Billions of Dollars have been spent and are going to be spent on supplying the Ukrainians with weapons. I’m sure I’m right in saying that most of you listening are familiar with the Military Industrial Complex talked about by President Dwight D Eisenhower in his 1961, farewell address. War in big business. Also, in the words of US Major General Smedley D Butler, “War is a Racket”

Likewise, billions of Euros are going to be spent integrating the refugees into whatever country they end up in – providing housing, education and health etc

My comment on this though might perhaps not be what might be expected.

I’m not going to complain about the cost of it. Or talk about how these costs should be met.
Neither am I going to discuss the rights or wrongs of it.

What I will simply say is that it’s just a way of spending currency.

Where there is crisis, there is also opportunity. To our Overlords, Ukrainian crisis and the refugees represent an opportunity.

To keep the Central Bank con going, ever increasing amounts of currency needs to be created – kind of like a Ponzi scheme that requires new gullible investors to make contributions.

And the refugee crisis represents a pretty good way of spending currency. The more currency that is spent the better because massive currency creation is a means to an end. One of their main aims in terms of Economics is to create hyperinflation and any currency creation, for whatever reason, helps them achieve this aim. Staying with the military theme of this video, hyperinflation could be regarded as “a weapon of mass destruction”. It’s going to destroy lives and as well Economies.

“Divide and Rule” is an age old tactic used by our Overlords to control the populace of countries across the planet.

It’s been a very effective tactic throughout the ages which is why they have used it time and time again and why they are still using it.

Numerous examples of the “Divide and Rule” tactic exist. I will briefly mention just one by way of illustration.

The Republic of Ireland & Northern Ireland
For those of you who don’t know, prior to 1921, the island of Ireland was one single country. It was partioned in 1921, becoming The Republic of Ireland, aka the Irish Free State and Northern Ireland. Northern Ireland is a devolved nation, comprising of six counties in the north-eastern region of the island under British rule.

The majority of Northern Ireland’s population are known as Unionists because they wanted to maintain union with Britain. Opposing them, in the other camp, are the Republicans who wanted to unite Ireland and become part of The Republic of Ireland.

Generally speaking, the Unionists are Protestant and the Republicans are Catholics.

So we have …

Unionists v Republicans
Protestants v Catholics

These are the main dividing lines in Northern Ireland.

Ever since partition, the British have fermented division in Northern Ireland for their own nefarious ends.

I should also say the British establishment have been involving themselves in Irish affairs since the 1600s.

I recognise the fact that, in many respects, I’m very fortunate to have been born British, but I’m not proud of our Imperial past. And the Irish situation is one thing that makes me utterly ashamed to be British.

That said, I am not part of the British establishment. And I’m not responsible for the sins of my forefathers.

This is a very brief overview of the situation, but it should be sufficient for purposes of illustration.

Anyway, moving on …

A more contemporary example of the “Divide and Rule” tactic is “Identity Politics”

White v Black
Male v Female
Straight v Gay (LBGTQ etc)

This video is a follow on from the other four videos I’ve done on the Central Bank currency creation operation. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s turn our attentions now to the High Street Banks currency creation operation.

High Street Banks
High Street banks also have a part to play in creating currency in a country.

How do they do this? Well, by means of something in the banking business known as “fractional reserve banking”. Very few people seem to know about this, yet it’s a hugely important topic because it’s something that has a big effect in our economy.

I’m going to start off by telling a joke.

What’s the difference between a counterfeiter and a bank manager?
Nothing much as it happens, because both create “funny money”.

A counterfeiter makes fake paper currency, whereas a bank manager creates fake digital currency on a computer system.

Unfortunately, this isn’t just a joke. It’s actually a very serious matter.

To my way of thinking, both are crooks – but only one is a small time crook.

Can you guess which one I’m referring to? I’ll give you a moment or two … if you guessed the counterfeiter as being the small time crook, then you were correct.

Bank managers are, to my mind, by far the greater crooks. They are much more of a scourge to society because they swindle the general public on a scale that beggar’s belief. The “Fractional Reserve System” is a scam. It’s a “confidence trick” becuase it relies on people’s confidence, or trust and lack of knowledge in banking in order to work. In short, it’s a con.

The key difference between a counterfeiter and a bank manager is that a counterfeiter is considered a criminal by society and by the courts, whereas a bank manager is considered a law-abiding member of society who provides a valuable financial service for the community.

By rights, both the counterfeiter and the bank manager belong in jail because both commit fraud.

This video is a follow on from the other three videos I’ve done on the Central Bank currency creation operation. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Let’s pick up where we left off …

Point number 3
The previous point I made, in the previous video, concerned the power of the voting public to make Governments more fiscally prudent. There is another way in which this alternative system I have proposed encourages Governments to be more fiscally prudent and that is by means of the Bondholders or Investors. They also have the power to make Governments more accountable for their actions.

If Bonds are bought on the open market – assuming of course that the markets are free, and that they’re not manipulated, or rigged - then market forces will determine the price of Bonds.

This means that the market will determine whether or not the Government is acting in an appropriate manner.

If the market determines that the Government is being fiscally irresponsible by excessive Deficit Spending, then investors won’t be so interested in buying Bonds. Demand for Bonds will drop, prices will fall and yields will rise. This will in turn make debt more expensive to service and this should also alert the populace, prompting them think that something is somewhat amiss with he system.

Let’s turn our attentions to Argentina as a real world example.

The Argentinian Government is not regarded as being the most financially prudent in the world because the Argentinian Economy has a habit of failing every once in a while.

Argentinian Bonds are therefore considered rather risky.

So, when Investors carry out a risk / return assessment on Argentinian Bonds, they deem them to be relatively risky investments.

And the longer the term of the Bond, the riskier they are.

A 30 year Bond is risky because it’s possible that the Argentinian Economy might well fail sometime in that 30 year time period.

Higher risks, demand higher yields. Why? Well, the yields have to be high to overcome any objections investors might have about investing. Investors will be prepared to take the risk in investing so long as they are able to get a very good rate of return on their investment.

So, yields for Argentinian Bonds, especially 30 year Bonds, have to be high.

What is more, if investors deem the Government too risky, they won’t invest at all. This will put the Government in a predicament. It will then struggle to raise funding to finance its commitments for the fiscal year. This will become all too apparent to people living in the country. Maybe services provided by the Government will suffer.

So, this state of affairs should discourage excessive Deficit Spending and should make the Governments that bit more accountable. Ergo, Investors can make Governments more fiscally prudent.

Under the present system, demand for Bonds are artificially heightened because the Big Banks know that they have a guaranteed buyer they can offload the Bo

This video is a follow on from the other two videos I’ve done on the Central Bank currency creation operation. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Is there an alternative?
The question we need to ask now is … Is there an alternative to the Central Banking system? I would say, “Yes, I think that there is.”

If the Government wants to do Deficit Spending, it would have to inform the Treasury to issue Bonds and sell them on the open market.

The Bonds would be bought by whoever wants to buy them – banks, pension funds, speculators, big investors or ordinary, smaller investors. Investors get a return on their investments in the form of interest payments, or coupon payments. The Bonds can then be traded on the open market, bought and sold freely. True price discovery will occur in the Bond market. So, that’s the Investor side of things.

Back to the Government. From the Government side of things, by selling Bonds, the Government is able to raise funds to pay for commitments it has made for the fiscal year. So, when the Investor buys the Bonds, the Investor gives the Government currency.

And, as we talked about in the previous video, the Government would be borrowing from the future to pay for the present – because Bonds are glorified I.O.U.s. The Government has to pay back the stated sum on the Bond, the Principal, plus the Interest by the time the Bond matures, or payment is due. The maturity dates and interest payments are all calculated in the original purchase price of the Bond, but that is, for now, by the by.

All this means that by selling Bonds, that the populace would funding the Government by future taxation.

It’s that simple. Certainly, no need for any Central Bank.

So, in summary …
The Government issues Bonds.
Investors buy the Bonds.
Investors get a return on their investments.
The Government gets their funding.
In order to pay for the Bonds – to meet the future debt obligation - the Government raises currency by means of taxation.
The Government is then able to pay back the debt at some point in the future.

Advantages and disadvantages
At this juncture, I should say there are advantages and disadvantages for every system.

The advantages in the system are as follows :-

Point number 1
There would be no Central Bank. This is a massive advantage because it would mean that we wouldn’t have Central Banks stealing wealth from us in terms of any unnecessary taxation and also there would be no loss of purchasing power caused by unrestrained currency creation.

Central Banks act like some noisome parasite, feeding off our labours. Once our systems are purged of these parasites, we will be a whole lot better off financially and otherwise.

This video is a follow on from the other video I’ve done on the Central Bank currency creation operation, If you haven’t seen that video, I would recommend you doing so before watching this one.

Let’s pick up where we left off.

Central Banking is a complete con
The title of Episode 4 of Mike Maloney’s series “the Hidden Secrets of Money” is “The Biggest Scam in the History of Mankind”.

And he’s absolutely right in saying this.

In my opinion, Central Banking is a complete con.

I have gone into detail about this in other videos, so I won’t go into great detail here.

No need for Central Banks
What I will say is that, to my way of thinking, there is no need for Central Banks to exist – Why?

Well, let’s look at the fund raising operation again, but this time only considering the essential elements, rather than describing the operation that currently takes place, as we did in the previous video.
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Basically, in order to raise funds what the Government does, is to take from the future to pay for the present.

By selling Bonds, the Government raises funds to pay for present commitments.

And it has to pay back this debt in the future in accord with maturity date of the Bond and it also has to pay the interest payments whenever they are due.

The maturity dates and interest payments are all calculated in the original price of the Bond, but that is, for now, by the by.

How is this debt paid back? Well, this debt is paid back by future taxation. It’s the populace that pays for Government debt in the form of taxation.

Reducing all this still further, we can say that the Government is borrowing from the future and also, more importantly, it’s borrowing from the tax paying public.

So, what then are we left with? … Well, it’s the populace that is actually funding the Government and this is done by means of taxation. These then are the essential elements of the operation.

And what does this mean? It means that the people are the ones “bank rolling” the Government.

This is the crux of the matter - the most important point to consider.

And so, if the Government is borrowing funds from the populace, why have a Central Bank?

Why have a third party be involved in this operation, when there is no need for it?

For those of you in the audience who are more visually orientated, I have an analogy. It’s like creating a diversion on a major highway when there is no need for one. The cars are obliged to take this diversion even though the highway is perfectly serviceable – there are no roadworks taking place and there is no other problem, like an accident, or some such. There is then no need for the traffic to be diverted. The diversion serves no purpose … for the people.

Given this, we can ask the question … What purpose does the Central Bank serve?

Especially if we consider that the raising of funds can be carried out by Governments without the need for a Central Bank.

A Central Bank serves no purpose. It’s entirely unnecessary in this operation. I

The subject matter of this video and the next two videos is about how currency is created.

My guess is that most people think it’s Governments that create currency, but that’s not the case. Governments play their part, but they are not the ones that actually create the currency.

It’s Central Banks, as well as the Big banks and also the ordinary High Street banks that actually create currency in an economy.

How then does currency get created?

There are two main means by which currency gets created - two separate systems.

I will talk about the two systems one after the other.

Central Banks
Let’s look at the Central Bank currency creation scam, I mean system, first.

Mike Maloney on YouTube does a very good job of explaining the process of how currency comes into existence and other things besides. I would highly recommend you watching his whole series “the Hidden Secrets of Money”. A lot of what I’m going to say here is taken from Episode 4 of that series.

Let’s start from the very beginning.

A political party proposes an agenda in accord with their political persuasions in their manifesto.

Once elected and in office, they put forward a spending plan - outlining where the currency should be spent for the forthcoming fiscal year. In the UK, this spending plan is called “the Budget” and it’s announced to Parliament and the public by the Chancellor of the Exchequer. In the US, it’s called the Federal Budget.

In both cases, assuming that the Budget proposals are agreed upon, Government funds are allocated to services and programmes such as Defence, Social welfare and Health etc.

The Government is essentially given the green light to start spending currency as per their proposals.

But where does this currency come from? The short answer is taxes. Taxes can be considered as the revenue stream of the Government.

If revenues exceed expenditures, then the Government will have a Budget Surplus. If however, expenditures exceed revenues, then the Government will have a Budget Deficit.

So, if the Government is able to collect more in taxes than it spends in a fiscal year, then this is all well and good. If the Government is spending more in a fiscal year than it collects in taxes then this is not quite so good.

This is, so far, all very straightforward.

So far this year, it’s been pretty bad for stocks. The Stock market in the US has taken a bit of a hit of late, but I don’t think this is the “the big one – “the crash” that many of us have been waiting for – although it is part of the wider collapse that is occurring.

In this video I will talk about the US Stock Market, but this is more or less true of most stock markets around the world. Same, same, but different.

There are several things to say about this stuff.

Market can’t always go up, up and up. They have to come down once in while. To think otherwise, to expect markets to rise forevermore is simply unrealistic. In fact, I would go so far as to say it’s somewhat delusionary.

Markets fluctuate. That’s the nature of markets. They fluctuate not just on a daily basis, but by the second, by the minute – as well as hourly, daily, weekly, monthly, yearly etc. Sometimes those fluctuations are small, sometimes they are big. Perhaps people need pan out and to get some perspective and consider things through a stretch of time.

It’s also advisable to look at such things in a rather dispassionate manner – removing feelings from the equation as much as is humanly possible. Don’t let yourself be swayed by sentiment.

Also there’s a fair amount of herd mentality in operation. So, it’s best to your own thinking on the situation. And consider things carefully.

That said, the Stock market is overvalued. It’s in a bubble. The value of equities has been pumped up by QE. So, prices are artificially inflated and Stocks are due a correction.

This then is most likely a market correction – but a relatively normal market correction. Gregory Mannarino of Trader’s Choice on YouTube says it’s a normal corrective phase – he has labelled it as “a cyclical bear market”. So, it’s nothing too, too serious … especially as compared to what will probably occur.

Bear in mind that all markets are managed. The Stock Market is no exception. In the US, there is the Plunge Protection Team which steps in when markets fall. So, when we talk of “a normal market correction” I’m referring to a situation where markets are not so managed. By the way, I prefer the term “manipulated” rather than “managed” as it more accurately describes the situation we face and I should use the term becuase it better reflects my views on the matter.

The markets are somewhat jittery. Why is this? Well, I would say that if traders and investors aren’t overtly aware of what the situation is, maybe they are sensing something is seriously amiss and are reacting to that.

Perhaps then this loss of value is a foreshadowing.

Speaking via video link with the All-In Podcast crew, Elon Musk, the CEO of TESLA, on Monday, 16th May, said

“The obvious reason for inflation is that the government printed a zillion amount more money than it had.”

So, it’s like the government can’t just issue checks far in excess of revenue without there being inflation, you know, velocity of money held constant.

So unless something were to change with velocity of money

If the Federal Government writes checks, they never bounce. So that is effectively creation of more Dollars. And if there are more Dollars created then the increase in the goods and services outgrow the economy, then you have inflation – again, velocity of money held constant.

This is very basic. This is not super complicated.”

If the government could just issue massive amounts of money and deficits didn’t matter, then why don’t we just make the deficit 100 times bigger? The answer is, you can’t because it will basically turn the Dollar into something that is worthless.

And various countries have tried this experiment multiple times. It’s not like, I wonder what happens if this is done.
Have you seen Venezuela? Like the poor people of Venezuela have been just rode roughshod by their government.

So obviously, you can’t simply create money”

The true economy is the output of goods and services. It’s not money.
Money, or anything that you call money, is a way for us to conveniently exchange goods and services without having to engage in barter and to shift obligations in time. Those are the two reasons that you have money – this thing called money. It’s really a database. Money is an information system for labour allocation and for exchange of goods and services and for translating in time.

This extended quote comes from the interview from about 1 hour 16 minutes in. It’s not totally verbatim – I’ve tidied up the dialogue a bit.

This video is a follow on from the previous two videos about Japan. The first dealt with the Bonds, Risks and Yields and Pricing. The second video dealt with difference between QE and YCC, currency creation and inflation. If you haven’t seen those videos, I would recommend you doing so before watching this one.

Now, that we have an understanding of the terms and approaches, we can better appreciate what has been happening in Japan over the past however long.

The BoJ and the FED
So let’s do that, but let’s keep our focus on QE and YCC.

According to Investopedia … “Following the Asian Financial Crisis of 1997, Japan fell into an economic recession. Beginning in 2001, the BoJ began an aggressive Quantative Easing program in order to curb deflation and stimulate the economy. The Bank of Japan moved from buying Japanese Government Bonds to buying private debt and stocks. However the Quantative Easing campaign failed to meet its goals. Between 1995 and 2007, the Japanese Gross Domestic Product (GDP) fell from roughly $5.45 Trillion to $4.52 Trillion in nominal terms, despite the BoJs efforts.”

So, in the late 1990s, the Japanese authorities tried QE, but that failed to get the Japanese Economy moving, so they embarked on YCC. Bear in mind that YCC is a more extreme operation than QE.

As I said in the previous video QE and YCC expand the money supply. Both operations create currency and currency creation adversely affects a currency – causing inflation.

Does QE cause inflation?
One pertinent question perhaps to ask at this point is, “Does QE, in fact, cause inflation?”

According to Investopedia … “There is disagreement about whether Quantative Easing causes inflation and to what extent it might do so. For example, the BoJ has repeatedly engaged in QE as a way of deliberately increasing inflation within their economy. However these attempts have so far failed with inflation remaining at extremely low levels since the 1990s”

So, Investopedia seems to be citing Japan as a country that disproves the assertion that QE causes inflation .

Inflation and Deflation in Japan
Let’s therefore have a closer look at the situation in Japan to ascertain whether Investopedia are correct or not in making this claim.

Unlike most other countries, Japan doesn’t have much inflation at present. In March of this year inflation stood at 2.2%.

Indeed, a recent low inflation point, not so long ago, was in November 2020 when Japan had minus 1% Year on Year inflation. This is remarkable given the situation that much of the world finds itself in today.

The problems that Japan has been facing over the past few decades has not been with inflation, but with deflation. So, let’s look at why this might be?

This video is a follow on from the previous video dealing with the Bonds, Risks and Yields and also Pricing. If you haven’t seen that video, I would recommend you doing so before watching this one.

Let’s begin …

Quantative Easing v Yield Curve Control
I should, at this juncture, make a distinction between Quantative Easing and Yield Curve Control.

Quantative Easing
Quantative Easing (QE) is a large-scale asset purchasing programme carried out by Central Banks. The assets that they buy are Government Treasury Bonds. With QE, the Central Banks can buy other securities besides Bonds, such as Mortgage Backed Securities etc.

QE is carried out to lower interest rates and also to stimulate the Economy. I won’t be going into the stimulating the economy aspect in this video however.

What I will say is that by buying a certain number of Bonds, the Governments and Central Banks are hoping that this will move interest rates in the direction they want.

When the Central Banks buys Bonds this artificially increases demand for Bonds and this in turn raises the price and lowers the rates. As mentioned in the previous video, with Bonds, prices and interest rates are inversely correlated, so this increased demand pushes up prices and puts downward pressure on interest rates.

Yield Curve Control (YCC)
Yield Curve Control (YCC) is slightly different from QE in that it is aimed at hitting a specific target for interest rates. With YCC, Bonds are bought in whatever quantity that is required to hit that designated target rate.

Summary
In summary, QE is carried out by the Central Banks buying Bonds and other securities in a specific quantities whereas, YCC is carried out by the Central Banks buying exclusively Bonds in whatever quantity required to hit a target rate.

Investopedia says they are “dramatically different”. In the same article it says, YCC “sharply differs from QE”.

Maybe I’m just being dumb, but I can’t see how they are so very different. There are differences but, so far as I can see, the two operations are not all that different.

One could argue that, in either case, the mechanisms are the same – buying Bonds. And their general aims are the same - to lower interest rates.

The only real differences between QE and YCC have to do with their focus and the quantities involved - the biggest difference being the quantities involved. There are no set quantities with YCC. So, YCC seems to be a more extreme operation – it’s without limit. With YCC, there is an attitude of “whatever it takes”.

Be that as it may, crucially, in both instances, currency creation takes place.

This mini series is focused on the Japanese Economy.

The situation in Japan is pretty parlous at present.

The Japanese Yen has lost a lot of value in recent times. If you look at a chart for the Yen Dollar pairing, this decline becomes very apparent. It’s been in steady decline for about two years, but ever since March of this year, there’s been a very steep decline.

Why is this happening? Well, there are several aspects to this. I will do my best to break it down and explain the situation, but one of the main things to consider is Yield Curve Control.

So, let’s look at this.

Yield Curve Control
The Japanese Central Bank, the Bank of Japan (the BoJ) has been engaged in a policy of Yield Curve Control (or YCC). This sounds complicated, but really, it isn’t all that difficult to understand. Yield Curve Control is basically the Central Bank and Government trying to control the interest rates, or the yields on Government Bonds.

The Japanese Central Bank has been aiming to keep the 10 year Bond yields at as near zero as is possible. They allow for a range because they obviously don’t have complete control over all aspects of the Japanese economy. The range they have set is a quarter of a percent (or 25 basis points) to the plus side, or to the minus side of zero.

Government Bonds
Let’s look at Government Bonds. For anyone listening who doesn’t know, a Bond is a Government issued security. Bonds can be thought of glorified I.O.U.s sold by Governments to Investors.

The Government has to pay back the stated sum on the Bond, the Principal, plus the Interest by the time the Bond matures, or payment is due. Needless to say perhaps, but, a 10 year Bond matures in 10 years. There are different maturity dates for Bonds. 2 years, 5 years, 10 years and 30 years. Short term Bonds, with terms of one year or less, are known as Treasury Bills, or T Bills.

Bonds are good for Governments because they are the means by which Governments can raise funds and they are good for Investors because Investors gets a guaranteed rate of return on their investment. What is more, seen from an Investor point of view, Bonds are considered relatively safe, because it’s rare that a Government fails.

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