[News with Views] "In our view... derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." —Warren BuffettThose who know me
| …Steven Yates, PhD (philosophy), expat in Chile, where he earns his bread editing English translations of the work of Chilean academics and writes books on cultural topics for love… |
Used to be called models, which allowed calibration of aligning circumstances.
A couple of weeks ago I posted an article on my Substack publication Navigating the New Normal from one Sarah Smith, pseudonym of a woman I’ve known for years. She’s done a few things under her real name, but with family to think of, in the New Normal she wants to keep her head down. She’s given me permission to draw on her ideas and resources. I’m uncomfortable doing so without crediting her for drawing the scenario below. I don’t know the probability that something bad will happen on April 8. Sarah assures me, though, that well-connected and well-informed people who have better information than I do are worried. That tells me, the odds are not zero!
OPEN BORDERS AND THE THREAT OF TERRORISM.
What are we sure of? That the Bidenistas want open borders. They threw open the southern border after ousting Trump back in 2020-21. Migrants began massing on our southern border not by the thousands but by the hundreds of thousands. Discovering they could cross the border without consequence, they came in even larger numbers. Different sources cite anywhere from 6.2 million to 10 million illegal migrants entering the U.S. since January 21, 2021. They’ve gone (or been sent) to every major city, where some have made mayhem. Only some are Hispanic. Others entering the U.S. illegally are Chinese nationals (thousands — enough to form an army on U.S. soil!). There are also likely Hezbollah loyalists able to form sleeper cells answering to Iran! Should the U.S. end up in a direct confrontation with that country, these cells could easily be activated!
In other words, it’s as if the Bidenistas are inviting a terrorist attack on U.S. soil, possibly in response to the mayhem "our" war machine has made in the Middle East, or just its unconditional support for Israel.
No one I know of thinks "Joe Biden" is doing this. With his cognitive decline, I doubt he can still find Iran on a map. Does whoever is behind him — Obama? Obama’s handlers? — have a larger agenda reflecting hatred for Western civilization? Some think so.
THE DERIVATIVES BUBBLE: COULD A TERRORIST ATTACK LEAD TO THE GREAT TAKING AND CBDCS?
A terrorist attack — or multiple attacks on the same day — if they occurred, say, in America’s Heartland, would do more than cause a major economic downturn. They could set in motion cascading defaults that would dwarf what we saw back in 2008. They could burst the derivatives bubble. Financial Endgame would follow.
The derivatives bubble is the largest bubble in human history. Its size exceeds the actual physical wealth on the planet. It is not without reason that Warren Buffett referred to derivatives as potential "financial weapons of mass destruction."
We are indebted to David Rogers Webb who smoked out what the bursting of this bubble would mean for ordinary people, revealing it in his book The Great Taking which I’ve reviewed and continued to reference.
A 1990s revision to the Uniform Commercial Code (UCC) adopted by all 50 states gives special, "protected class" legal status to the too-big-to-fail banks (Goldman Sachs, Bank of America, JP Morgan Chase, Wells Fargo). In the wake of the complete financial meltdown that would follow, the revised UCC would be used to justify digitally transferring all securities (stocks, bonds, mortgages, pensions, 401ks, etc.) to the too-big-to-fail banks, and it would be legal!
Picture awakening one morning, logging into your IRA or 401k to check its performance, and seeing that to your horror, your account balance is zero! Your money has vanished! In a panic you try to call your broker and discover that your phone isn’t working! Your bank is shuttered, surrounded by police barricades also surrounding every other local bank branch! You still can’t reach your broker. Numb, you try to process all this and wonder what happens next!
It’s the Great Taking! See again Sarah Smith’s article here, or here.
The Federal Reserve and the too-big-to-fail banks will then issue central bank digital currency (CBDC) with the backing of Uncle Sam. I envision "Joe Biden" signing an executive order establishing the new financial system supposedly to deal with the disaster and likely national panic that could end with fresh lockdowns and martial law being imposed. Smaller banks not absorbed by the too-big-to-fail leviathans will not reopen. If you had an account in one of them, your money is simply gone!
| Much more at the link. |