The turbo plunder of the financial system

The financial system we have lived under since World War II irrevocably entered its final stage in March 2020. It was already on the brink of collapse in the global financial crisis of 2007/08, but could be artificially kept alive for almost 12 years by the central banks through money creation and continuous interest rate cuts. In March of last year, interest rate cuts hit zero. Since the banking system cannot live permanently with negative interest rates, a historic turning point has been reached: The global financial system can only be kept alive by unchecked money printing, and unchecked money printing is a sure recipe for the destruction of the currency and the path to hyperinflation.

Obviously, this is exactly what those who hold the levers of power also know. It seems that for this reason they have opted for a double strategy: they use the end of the system for one final, all-encompassing looting operation, while in the background they prepare a new one to be built on the ruins of the existing system. So we are in the phase of a deliberate collapse in favor of a tiny minority who currently dominate just about everything - business, politics, science and the media - and who have also managed the greatest orgy of looting in the history of the To present humanity as the fight against a disease, i.e. as a humanitarian action for the benefit of all of us.

In fact, instead of protecting our health, we have experienced something completely different in the past 18 months, namely the largest and fastest redistribution of wealth in all of human history. Never before have such unimaginable sums moved from one hand to the other in such a short time. The biggest losers in this development, along with those whose standard of living has been lowered, are the taxpayers, who are used to plug the rapidly growing holes in the state budget, and the middle class, a large part of which are currently struggling to survive. The biggest beneficiary of the development is the digital-financial complex, at the top of which are the large IT groups Amazon, Apple, Microsoft, Alphabet and Facebook as well as the asset managers BlackRock and Vanguard. The market value of the 5 major digital corporations has been more than $ 10 trillion since last week. For comparison: The German state budget, i.e. the money that will be officially available to the German government in 2021, is around 500 billion euros, which is almost 600 billion dollars.

The disproportion becomes even more extreme when you consider the following figures: 35 million people in Germany generated around 2020 trillion dollars in 4. The asset managers BlackRock and Vanguard together employ 34.000 people, i.e. less than half a per thousand of the German workforce, but manage more than 16 trillion dollars, i.e. four times what 35 million Germans generate in a year. The great redistribution also has a historically unique aspect that is rarely mentioned: a large part of the redistributed money has only been created in the last few years. The ECB's balance sheet has grown from two trillion euros to its current level of 2014 trillion euros since mid-8,2, and that of the US Federal Reserve from 4,2 to 8,4 trillion dollars in the same period.

In this way a mechanism has been triggered that works as follows: Politicians instruct the central banks to create money and to give it to large investors who pump it into the financial markets and thus ensure their own enrichment. However, this mechanism has a problem: the increasing money supply is fueling inflation more and more. But the digital-financial complex is also preparing for this: its major players have been investing more and more in tangible assets such as land and real estate for some time. In addition, a new financial system is already being prepared by central banks - digital central bank currencies with which one wants to try to outsmart the laws of the monetary economy with programmable money. Nobody knows whether this will work, not even the digital-financial complex. However, he currently wastes little time thinking about the future and prefers to devote himself to the historical possibility of plundering a system, the end of which is already in sight, according to all the rules of the art.

Ernst Wolff: The turbo plundering of the financial system The current comment 20.09.21]