PREDICTION: The funny munny central banking scam will completely collapse by 2022. Here’s what you need to do now!
“Well, uh… Commissioner, Mr. President, I rise again, I’m afraid, to make the same old hoary speech that I’ve been making here for several years, and that is…”
Hold that thought for a moment.
Before we go into this man’s “hoary” speech, here’s a little background:
Those were the words of Godfrey Bloom, a Member of the European Parliament.
He spoke them way back in 2013, during a Parliament debate called, “Banking union: single supervisory mechanism.”
[You’ll find the the video link below.]
“It is my opinion,” Godfrey says, “that you do not really understand the concept of banking. All the banks are broke. Bank Santander. Deutsche Bank. Royal Bank of Scotland. They’re all broke.
“And why are they broke?” he asks.
“It isn’t an act of God. It isn’t some sort of tsunami. They’re broke because we have a system called fractional reserve banking. Which means that banks can lend money that they don’t actually have.”
“It’s a criminal scandal and it’s been going on for too long.”
To add to that problem, says Bloom, “you have moral hazard. A very significant moral hazard from the political sphere. And most of the problem starts in politics. And central banks which are part of the same political system.
“We have counterfeiting, sometimes called ‘quantitative easing.’ But counterfeiting by any other name: the artificial printing of money. Which if any ordinary person did, they’ll go to jail for a very long time. And yet governments and central banks do it all the time.
“Central banks repress the amount of interest rates are, so that we don’t have the real cost of money. And yet we blame the retail banks for manipulating LIBOR. The sheer affrontery here is actually quite astonishing. It’s central banks. It’s central banks that manipulate interest rates, Commissioner.
“And plus, underneath all this, we talk loosely, in a rather cavalier fashion do we not, about deposit guarantees! So when banks go broke through their own incompetence and chicanery, the taxpayer picks up the tab!
“It’s theft from the taxpayer!
“And until we start sending bankers, and I include central bankers, and politicians to prison for this outrage, it will continue!”
Unfortunately, we have reached the apex of criminality.
Fortunately, the funny munny central banking scam is on its way out.